<SEC-DOCUMENT>0001061630-25-000128.txt : 20251029
<SEC-HEADER>0001061630-25-000128.hdr.sgml : 20251029
<ACCEPTANCE-DATETIME>20251029064830
ACCESSION NUMBER:		0001061630-25-000128
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		138
CONFORMED PERIOD OF REPORT:	20250930
FILED AS OF DATE:		20251029
DATE AS OF CHANGE:		20251029

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKSTONE MORTGAGE TRUST, INC.
		CENTRAL INDEX KEY:			0001061630
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				946181186
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14788
		FILM NUMBER:		251426732

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		STREET 2:		24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		2126550220

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		STREET 2:		24TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CAPITAL TRUST INC
		DATE OF NAME CHANGE:	19980512
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>bxmt-20250930.htm
<DESCRIPTION>10-Q
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pre">WASHINGTON, D.C. 20549<span style="display: inline-block; height: 8.12pt"></span></span></div><div style="line-height: 1pt; position: var(--position); top: 98.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div><div style="position: var(--position); top: 99.84pt; width: 612pt"><div style="font-size: 0pt; left: 254.25pt; position: var(--position); top: 0pt; width: 103.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 103.5pt"/></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 14pt; line-height: 14pt; position: var(--position); top: 122.59pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 14pt; font-style: normal; font-weight: bold; left: 268.1pt; position: var(--position); white-space: pre">FORM <span style="display: inline-block; height: 9.48pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 14pt; font-style: normal; font-weight: bold; left: 314.35pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:DocumentType" id="f-7">10-Q</ix:nonNumeric><span style="display: inline-block; height: 9.48pt"></span></span></div><div style="line-height: 1pt; position: var(--position); top: 139.39pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div><div style="position: var(--position); top: 140.53pt; width: 612pt"><div style="font-size: 0pt; left: 254.25pt; position: var(--position); top: 0pt; width: 103.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 103.5pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 151.03pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 28.8pt; position: var(--position); white-space: pre">(Mark One) <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 162.53pt; width: 612pt"><div style="font-size: 0pt; left: 28.8pt; position: var(--position); top: 0pt; width: 534.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 19.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 515.25pt"/></tr><tr style="height: 17.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 19.5pt"><div><div style="line-height: 12pt; position: var(--position); top: 3.75pt; width: 19.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:DocumentQuarterlyReport" format="ixt:fixed-true" id="f-8">&#9746;</ix:nonNumeric><span style="display: inline-block; height: 8.32pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 19.5pt; position: var(--position); top: 0pt; width: 515.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 515.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 509.73pt">QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 184.78pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 160.26pt; position: var(--position); white-space: pre">FOR THE QUARTERLY PERIOD ENDED <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 352.63pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-9">SEPTEMBER&#160;30, 2025</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 199.28pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 298.5pt; position: var(--position); white-space: pre">OR<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 210.78pt; width: 612pt"><div style="font-size: 0pt; left: 28.8pt; position: var(--position); top: 0pt; width: 534.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 19.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 515.25pt"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 19.5pt"><div><div style="line-height: 12pt; position: var(--position); top: 3.75pt; width: 19.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:DocumentTransitionReport" format="ixt-sec:boolballotbox" id="f-10">&#9744;</ix:nonNumeric><span style="display: inline-block; height: 8.32pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 19.5pt; position: var(--position); top: 0pt; width: 515.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 515.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 509.19pt">TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934<span style="display: inline-block; height: 6.77pt"></span></span><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 511.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 243.03pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 172.6pt; position: var(--position); white-space: pre">FOR THE TRANSITION PERIOD FROM ______ TO ______<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 257.53pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 226.74pt; position: var(--position); white-space: pre">Commission File Number: <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 341.93pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityFileNumber" id="f-11">001-14788</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 272.03pt; width: 612pt"><div style="left: 207.75pt; position: var(--position); top: 0pt"><div style="position: var(--position)"><img src="bxmt-20250930_g1.gif" alt="Mortgage_Trust_Lock_Up_Standard_GIF.gif" style="height: 48.75pt; width: 196.5pt" id="i-1"/></div></div></div><div style="font-size: 12pt; line-height: 24pt; position: var(--position); top: 325.78pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 24pt; font-style: normal; font-weight: bold; left: 139.73pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityRegistrantName" id="f-12">Blackstone Mortgage Trust, Inc.</ix:nonNumeric><span style="display: inline-block; height: 16.25pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 353.38pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 194.16pt; position: var(--position); white-space: pre">(Exact name of Registrant as specified in its charter)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 366.88pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 248.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 246.75pt"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 248.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 248.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 102.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityIncorporationStateCountryCode" format="ixt-sec:stateprovnameen" id="f-13">Maryland</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 248.25pt; position: var(--position); top: 0pt; width: 246.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 246.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 99.21pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityTaxIdentificationNumber" id="f-14">94-6181186</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 248.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 248.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 74.18pt; position: var(--position); white-space: pre">(State or other jurisdiction of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 248.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 71.94pt; position: var(--position); white-space: pre">incorporation or organization)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 248.25pt; position: var(--position); top: 14.25pt; width: 246.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 246.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 94.51pt; position: var(--position); white-space: pre">(I.R.S. Employer<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 246.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 92.07pt; position: var(--position); white-space: pre">Identification No.)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 408.88pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 244.51pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine1" id="f-15">345 Park Avenue</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 317.8pt; position: var(--position); white-space: pre">, <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 322.8pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine2" id="f-16">24th Floor</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 420.38pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 246.17pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressCityOrTown" id="f-17">New York</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 289.75pt; position: var(--position); white-space: pre">, <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 294.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressStateOrProvince" format="ixt-sec:stateprovnameen" id="f-18">New York</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 338.33pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 340.83pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressPostalZipCode" id="f-19">10154</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 431.88pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 221.31pt; position: var(--position); white-space: pre">(Address of principal executive offices)(Zip Code) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 441.07pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 274.75pt; position: var(--position); white-space: pre">(<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 278.08pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:CityAreaCode" id="f-20">212</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 293.08pt; position: var(--position); white-space: pre">) <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 298.91pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:LocalPhoneNumber" id="f-21">655-0220</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 452.57pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.2pt; position: var(--position); white-space: pre">(Registrant&#8217;s telephone number, including area code) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 461.76pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 297.39pt; position: var(--position); white-space: pre">N/A <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 473.26pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 165.02pt; position: var(--position); white-space: pre">(Former name, former address and former fiscal year, if changed since last report) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 1pt; position: var(--position); top: 482.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div><div style="position: var(--position); top: 483.59pt; width: 612pt"><div style="font-size: 0pt; left: 254.25pt; position: var(--position); top: 0pt; width: 103.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 103.5pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495.09pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 230.29pt">Securities registered pursuant to Section 12(b) of the Act:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.09pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 508.59pt; width: 612pt"><div style="font-size: 0pt; left: 57pt; position: var(--position); top: 0pt; width: 498pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 105pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 118.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 90pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 177.75pt"/></tr><tr style="height: 21.75pt"><td colspan="2" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 223.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 223.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 81.66pt; position: var(--position); text-decoration: none; white-space: pre">Title of each class<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 0pt; width: 90pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 90pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31.01pt; position: var(--position); white-space: pre">Trading<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 90pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.57pt; position: var(--position); white-space: pre">symbol(s)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 0pt; width: 177.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 177.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 49.02pt; position: var(--position); white-space: pre">Name of each exchange<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 177.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 55.35pt; position: var(--position); white-space: pre">on which registered<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="2" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 223.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 223.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:Security12bTitle" id="f-22">Class A common stock, par value $0.01 per share</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 21.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 30.01pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:TradingSymbol" id="f-23">BXMT</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 21.75pt; width: 177.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 177.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 31.82pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-24">New York Stock Exchange</ix:nonNumeric><span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550.59pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.29pt">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.0899999999999pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.49pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.16pt">during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 582.9599999999999pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="font-size: 12pt; line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.39pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 124.15pt">requirements for the past 90 days. <span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 152.95000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.98pt"><ix:nonNumeric contextRef="c-1" name="dei:EntityCurrentReportingStatus" id="f-25">Yes</ix:nonNumeric><span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 166.93pt; position: var(--position); white-space: pre; width: 31.8pt"> &#9746; No &#9744;<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 198.73000000000002pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582.29pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.29pt">Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.0899999999999pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.22pt">Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.02pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="font-size: 12pt; line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.09pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 22.97pt">files). <span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 51.769999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.98pt"><ix:nonNumeric contextRef="c-1" name="dei:EntityInteractiveDataCurrent" id="f-26">Yes</ix:nonNumeric><span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 65.75pt; position: var(--position); white-space: pre; width: 31.8pt"> &#9746; No &#9744;<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 97.55pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 613.99pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.23pt">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.03pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623.89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.24pt">emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company&#8221; and &#8220;emerging growth<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.04pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633.79pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 166.87pt">company&#8221; in Rule 12b-2 of the Exchange Act.<span style="display: inline-block; height: 6.24pt"></span></span></div><div style="position: var(--position); top: 645.69pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 90pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.3pt"><ix:nonNumeric contextRef="c-1" name="dei:EntityFilerCategory" format="ixt-sec:entityfilercategoryen" id="f-27">Large accelerated filer</ix:nonNumeric><span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 0pt; width: 75pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 9.79pt"> &#9746;<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 219.75pt; position: var(--position); top: 0pt; width: 90pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 309.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.45pt">Accelerated filer<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 420pt; position: var(--position); top: 0pt; width: 75pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 62.58pt; position: var(--position); text-decoration: none; white-space: pre"> &#9744;<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td></tr><tr style="height: 3.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 18pt; width: 144.75pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">Non-accelerated filer<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 18pt; width: 75pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 9.79pt"> &#9744;<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 219.75pt; position: var(--position); top: 18pt; width: 90pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 309.75pt; position: var(--position); top: 18pt; width: 110.25pt"><div><div style="line-height: 9.5pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.83pt">Smaller reporting company<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 420pt; position: var(--position); top: 18pt; width: 75pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 62.58pt; position: var(--position); text-decoration: none; white-space: pre"> <ix:nonNumeric contextRef="c-1" name="dei:EntitySmallBusiness" format="ixt-sec:boolballotbox" id="f-28">&#9744;</ix:nonNumeric><span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td></tr><tr style="height: 3.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 219.75pt; position: var(--position); top: 36pt; width: 90pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 309.75pt; position: var(--position); top: 36pt; width: 110.25pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Emerging growth company<span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 420pt; position: var(--position); top: 36pt; width: 75pt"><div><div style="line-height: 9.5pt; position: var(--position); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9.5pt; font-style: normal; font-weight: normal; left: 62.58pt; position: var(--position); text-decoration: none; white-space: pre"> <ix:nonNumeric contextRef="c-1" name="dei:EntityEmergingGrowthCompany" format="ixt-sec:boolballotbox" id="f-29">&#9744;</ix:nonNumeric><span style="display: inline-block; height: 6.58pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702.94pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 554.3pt">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 583.0999999999999pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.29pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 361.97pt">or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 390.77000000000004pt; position: var(--position); white-space: pre; width: 2.25pt"> <span style="display: inline-block; height: 6.24pt"></span></span></div><div style="font-size: 12pt; line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 725.64pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 427.1pt">Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes <span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 455.90000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.03pt"><ix:nonNumeric contextRef="c-1" name="dei:EntityShellCompany" format="ixt:fixed-false" id="f-30">&#9744;</ix:nonNumeric><span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 462.93pt; position: var(--position); white-space: pre; width: 22.52pt"> No &#9746;<span style="display: inline-block; height: 6.24pt"></span></span></div><div style="font-size: 12pt; line-height: 9pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 737.99pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.8pt; position: var(--position); white-space: pre; width: 390.68pt">The number of the registrant&#8217;s shares of class A common stock, par value $0.01 per share, outstanding as of <span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 419.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.71pt">October&#160;22, 2025<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 482.19pt; position: var(--position); white-space: pre; width: 18.48pt"> was <span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 500.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonFraction unitRef="shares" contextRef="c-2" decimals="INF" name="dei:EntityCommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-31">167,723,732</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div><div style="position: var(--position); top: 748.34pt; width: 612pt"><div style="font-size: 0pt; left: 28.8pt; position: var(--position); top: 0pt; width: 554.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 554.25pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 757.84pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 583.05pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.89pt"></span></span><div style="font-size: 0pt; left: 28.8pt; position: var(--position); top: 1.39pt; width: 554.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 554.25pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_10"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 252.15pt; position: var(--position); white-space: pre">TABLE OF CONTENTS <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 79.3pt; width: 612pt"><div style="font-size: 0pt; left: 59.62pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 48pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 416.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 28.5pt"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 9.67pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 0pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 9.67pt; width: 416.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 0pt; width: 28.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 28.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 6.48pt; position: var(--position); text-decoration: none; white-space: pre">Page<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">PART I. <span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 20.25pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">FINANCIAL INFORMATION<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 1.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 40.5pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_16">FINANCIAL STATEMENTS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 40.5pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_16">3</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 60.75pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Consolidated Financial Statements (Unaudited):<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 81pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_19">Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 81pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_19">3</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 101.25pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 410.86pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_22">Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2025 and</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.49pt; position: var(--position); text-decoration: underline; white-space: pre; width: 2.5pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_22"> </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 15.15pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 20pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_22">2024</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 101.25pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_22">4</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 127.5pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 410.94pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_25">Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.57pt; position: var(--position); text-decoration: underline; white-space: pre; width: 2.5pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_25"> </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 15.15pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 74.43pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_25">30, 2025 and 2024</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 127.5pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_25">5</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 153.75pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 410.98pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_28">Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2025 and 2024,</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.61pt; position: var(--position); text-decoration: underline; white-space: pre; width: 2.5pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_28"> </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 15.15pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 236.83pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_28">June 30, 2025 and 2024, and September 30, 2025 and 2024</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 153.75pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_28">6</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 180pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_31">Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2025 and 2024</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 180pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_31">8</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 200.25pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_37">Notes to Consolidated Financial Statements</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 200.25pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_37">10</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 220.5pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 2.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 220.5pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_121">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_121">RESULTS OF OPERATIONS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 220.5pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_121">57</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 246.75pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 3.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 246.75pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_160">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 246.75pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_160">90</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 267pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 4.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 267pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_175">CONTROLS AND PROCEDURES</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 267pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_175">92</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">PART II.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 287.25pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">OTHER INFORMATION<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 307.5pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 1.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 307.5pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_184">LEGAL PROCEEDINGS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 307.5pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_184">93</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 327.75pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 1A.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 327.75pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_187">RISK FACTORS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 327.75pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_187">93</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 348pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 2.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 348pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_190">UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 348pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_190">94</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 368.25pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 3.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 368.25pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_193">DEFAULTS UPON SENIOR SECURITIES</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 368.25pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_193">95</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 388.5pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 4.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 388.5pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_196">MINE SAFETY DISCLOSURES</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 388.5pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_196">95</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 408.75pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 5.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 408.75pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_199">OTHER INFORMATION</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 408.75pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_199">95</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 429pt; width: 48pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 48pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 6.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 48pt; position: var(--position); top: 429pt; width: 416.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 416.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_205">EXHIBITS</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 429pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_205">96</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 449.25pt; width: 464.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 464.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_208">SIGNATURES</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 464.25pt; position: var(--position); top: 449.25pt; width: 28.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 28.5pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.87pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="#i5ae6f12e6eaa48489e39f30d79f48abd_208">97</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 252.15pt; position: var(--position); white-space: pre">TABLE OF CONTENTS<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Website Disclosure <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">We use our website (www.blackstonemortgagetrust.com) as a channel of distribution of company information. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">information we post through this channel may be deemed material. Accordingly, investors should monitor this channel, in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">addition to following our press releases, Securities and Exchange Commission, or SEC, filings and public conference calls,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">and webcasts. In addition, you may automatically receive email alerts and other information about Blackstone Mortgage<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">Trust when you enroll your email address by visiting the &#8220;Contact Us and Email Alerts&#8221; section of our website at http://<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 163.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 453.93pt">ir.blackstonemortgagetrust.com. The contents of our website and any alerts are not, however, a part of this report.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_13"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 219.94pt; position: var(--position); white-space: pre">PART I. FINANCIAL INFORMATION<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: absolute; top: 71.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_16"></div><div style="line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">ITEM 1. FINANCIAL STATEMENTS <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: absolute; top: 89pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_19"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 235.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 238pt; position: var(--position); text-decoration: none; white-space: pre">Blackstone<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 284.63pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 287.13pt; position: var(--position); text-decoration: none; white-space: pre">Mortgage<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 328.75pt; position: var(--position); white-space: pre"> Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 217.85pt; position: var(--position); white-space: pre">Consolidated Balance Sheets (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 234.64pt; position: var(--position); white-space: pre"> (in thousands, except share data) <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 137.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 344.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 344.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 0pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="f-32">377,921</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 27.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="f-33">323,483</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-34">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 42.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-35">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 57.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-36">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 57.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-37">733,936</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 72.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-38">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 72.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-39">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 87.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-40">933,635</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 87.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-41">588,185</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 344.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Investments in unconsolidated entities (includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.12pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:EquityMethodInvestmentsFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="f-42">104,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.62pt; position: var(--position); white-space: pre"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.04999999999998pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:EquityMethodInvestmentsFairValueDisclosure" scale="0" id="f-43">0</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.05pt; position: var(--position); white-space: pre"> at fair value as of <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 15.15pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.85pt; position: var(--position); white-space: pre"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.28pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.82pt; position: var(--position); white-space: pre">, respectively)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 102.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-44">182,598</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 102.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-45">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 129pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-46">834,219</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 129pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-47">572,253</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Assets<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 144pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="f-48">19,699,573</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 144pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="f-49">19,801,955</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities and Equity<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 173.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured debt, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 173.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-5" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-50">9,540,224</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 173.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.54pt"></span></span><span style="left: 30.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-6" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-51">9,696,334</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 188.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 188.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-52">2,470,067</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 188.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-53">1,936,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 203.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-specific debt, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 203.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-54">627,916</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 203.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-55">1,224,841</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 218.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loan participations sold, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 218.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 60.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilityAmount" format="ixt:fixed-zero" scale="3" id="f-56">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 218.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilityAmount" format="ixt:num-dot-decimal" scale="3" id="f-57">100,064</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 233.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term loans, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 233.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-58">1,774,913</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 233.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-59">1,732,073</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 248.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 248.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:SeniorNotes" format="ixt:num-dot-decimal" scale="3" id="f-60">785,215</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 248.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:SeniorNotes" format="ixt:num-dot-decimal" scale="3" id="f-61">771,035</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 263.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 263.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:ConvertibleNotesPayable" format="ixt:num-dot-decimal" scale="3" id="f-62">264,463</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 263.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:ConvertibleNotesPayable" format="ixt:num-dot-decimal" scale="3" id="f-63">263,616</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 278.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 278.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-64">639,372</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 278.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-65">282,847</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 293.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Liabilities<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 293.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="f-66">16,102,170</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 293.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="f-67">16,007,766</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 308.25pt; width: 344.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Commitments and contingencies (<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.41pt; position: var(--position); text-decoration: none; white-space: pre">Note 22<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.32999999999998pt; position: var(--position); white-space: pre">)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><ix:nonFraction unitRef="usd" contextRef="c-3" xsi:nil="true" name="us-gaap:CommitmentsAndContingencies" id="f-68"></ix:nonFraction></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><ix:nonFraction unitRef="usd" contextRef="c-4" xsi:nil="true" name="us-gaap:CommitmentsAndContingencies" id="f-69"></ix:nonFraction></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 323.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Equity<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 39pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 338.25pt; width: 344.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Class A common stock, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.05pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-3" decimals="INF" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="f-70"><ix:nonFraction unitRef="usdPerShare" contextRef="c-4" decimals="INF" name="us-gaap:CommonStockParOrStatedValuePerShare" scale="0" id="f-71">0.01</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.55pt; position: var(--position); white-space: pre"> par value, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.94pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-72"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-73">400,000,000</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.94pt; position: var(--position); white-space: pre"> shares authorized, <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 15.15pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-74"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="f-75">170,720,119</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 62.63pt; position: var(--position); white-space: pre"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.06pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="us-gaap:CommonStockSharesIssued" format="ixt:num-dot-decimal" scale="0" id="f-76"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-77">172,792,094</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.06pt; position: var(--position); white-space: pre"> shares issued and outstanding as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.21999999999997pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 26.55pt; width: 344.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.63pt; position: var(--position); white-space: pre"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.06pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 130.6pt; position: var(--position); white-space: pre">, respectively<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 338.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:CommonStockValue" format="ixt:num-dot-decimal" scale="3" id="f-78">1,707</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 338.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:CommonStockValue" format="ixt:num-dot-decimal" scale="3" id="f-79">1,728</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 377.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Additional paid-in capital<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 377.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:AdditionalPaidInCapitalCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-80">5,485,421</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 377.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:AdditionalPaidInCapitalCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-81">5,511,053</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 392.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accumulated other comprehensive income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 392.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-82">9,320</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 392.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-83">8,268</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 407.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accumulated deficit<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 407.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" sign="-" name="us-gaap:RetainedEarningsAccumulatedDeficit" format="ixt:num-dot-decimal" scale="3" id="f-84">1,905,746</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 407.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" sign="-" name="us-gaap:RetainedEarningsAccumulatedDeficit" format="ixt:num-dot-decimal" scale="3" id="f-85">1,733,741</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 422.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Blackstone Mortgage Trust, Inc. stockholders&#8217; equity<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 422.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:StockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="f-86">3,590,702</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 422.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:StockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="f-87">3,787,308</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 437.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 437.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:MinorityInterest" format="ixt:num-dot-decimal" scale="3" id="f-88">6,701</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 437.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:MinorityInterest" format="ixt:num-dot-decimal" scale="3" id="f-89">6,881</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 452.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Equity<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 452.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-90">3,597,403</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 452.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-91">3,794,189</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 467.25pt; width: 344.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 344.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total Liabilities and Equity<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 467.25pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LiabilitiesAndStockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="f-92">19,699,573</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 467.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:LiabilitiesAndStockholdersEquity" format="ixt:num-dot-decimal" scale="3" id="f-93">19,801,955</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 624.55pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 636.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.75pt">Note: <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.93pt">The consolidated balance sheets as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.34pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.99pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.56pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.66pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.76pt"> include assets of consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 647.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">variable interest entities, or VIEs, that can only be used to settle obligations of each respective VIE, and liabilities of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 659.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 413.86pt">consolidated VIEs for which creditors do not have recourse to Blackstone Mortgage Trust, Inc. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.1pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.08pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.84pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.08pt">, assets of the consolidated VIEs totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.23pt">$<ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-8" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="9" id="f-94">3.6</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.73pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.23pt">$<ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-8" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="9" id="f-95">2.4</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.75pt">, respectively, and liabilities of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 682.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.8pt">the consolidated VIEs totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.43pt">$<ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-8" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="9" id="f-96">2.5</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.85pt">&#160;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.28pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 253.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.43pt">$<ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-8" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="9" id="f-97">2.0</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.6pt">, respectively. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.27pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.27pt"> for further discussion of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.04pt">VIEs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 717.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 182.38pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 82.13pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_22"></div><div style="line-height: 10pt; position: var(--position); top: 82.13pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 93.63pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 195.5pt; position: var(--position); white-space: pre">Consolidated Statements of Operations (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 105.13pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 205.21pt; position: var(--position); white-space: pre">(in thousands, except share and per share data) <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 116.63pt; width: 612pt"><span style="color: #ee2724; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 128.13pt; width: 612pt"><div style="font-size: 0pt; left: 62.62pt; position: var(--position); top: 0pt; width: 486.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 216pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 216pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.24pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 30.34pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 216pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.56pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.56pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Interest and related income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 48pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:InterestAndFeeIncomeLoansAndLeases" format="ixt:num-dot-decimal" scale="3" id="f-98">345,959</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 48pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:InterestAndFeeIncomeLoansAndLeases" format="ixt:num-dot-decimal" scale="3" id="f-99">430,092</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 48pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:InterestAndFeeIncomeLoansAndLeases" format="ixt:num-dot-decimal" scale="3" id="f-100">1,037,553</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 48pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:InterestAndFeeIncomeLoansAndLeases" format="ixt:num-dot-decimal" scale="3" id="f-101">1,382,367</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Less: Interest and related expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 63pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-102">247,055</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 63pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-103">321,744</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 63pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-104">754,015</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 63pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-105">1,004,854</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 50pt; position: var(--position); text-decoration: none; white-space: pre">investments, net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 78pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-106">98,904</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 78pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-107">108,348</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 78pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-108">283,538</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 78pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-109">377,513</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 104.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 104.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-110">33,733</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 104.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-111">1,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 104.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-112">109,578</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 104.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-113">1,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 119.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Gain on extinguishment of debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 119.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:fixed-zero" scale="3" id="f-114">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 119.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="3" id="f-115">2,389</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 119.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:fixed-zero" scale="3" id="f-116">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 119.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="3" id="f-117">5,352</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NoninterestIncomeOther" scale="3" id="f-118">74</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:NoninterestIncomeOther" format="ixt:fixed-zero" scale="3" id="f-119">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NoninterestIncomeOther" scale="3" id="f-120">395</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NoninterestIncomeOther" format="ixt:fixed-zero" scale="3" id="f-121">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 149.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total net revenues<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 149.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NoninterestIncome" format="ixt:num-dot-decimal" scale="3" id="f-122">132,711</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 149.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:NoninterestIncome" format="ixt:num-dot-decimal" scale="3" id="f-123">111,951</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 149.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NoninterestIncome" format="ixt:num-dot-decimal" scale="3" id="f-124">393,511</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 149.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NoninterestIncome" format="ixt:num-dot-decimal" scale="3" id="f-125">384,079</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 164.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 178.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Management and incentive fees<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 178.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="3" id="f-126">16,849</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 178.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="3" id="f-127">18,605</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 178.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="3" id="f-128">51,120</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 178.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="3" id="f-129">56,258</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 193.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">General and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 193.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-130">12,747</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 193.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-131">13,423</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 193.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-132">38,937</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 193.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-133">40,811</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 208.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 208.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-134">43,100</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 208.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-135">2,684</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 208.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-136">137,198</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 208.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-137">3,647</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Other expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.54pt"></span></span><span style="left: 56.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:OtherNoninterestExpense" scale="3" id="f-138">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OtherNoninterestExpense" format="ixt:fixed-zero" scale="3" id="f-139">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:OtherNoninterestExpense" scale="3" id="f-140">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:OtherNoninterestExpense" format="ixt:fixed-zero" scale="3" id="f-141">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 238.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); white-space: pre">Total expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 238.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NoninterestExpense" format="ixt:num-dot-decimal" scale="3" id="f-142">72,702</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 238.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:NoninterestExpense" format="ixt:num-dot-decimal" scale="3" id="f-143">34,712</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 238.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NoninterestExpense" format="ixt:num-dot-decimal" scale="3" id="f-144">227,261</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 238.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NoninterestExpense" format="ixt:num-dot-decimal" scale="3" id="f-145">100,716</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 253.5pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Decrease (increase) in current expected credit loss <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 253.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" scale="3" id="f-146">987</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 253.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="3" id="f-147">132,470</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 253.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="3" id="f-148">94,111</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 253.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="3" id="f-149">519,747</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 279.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-150">3,924</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:fixed-zero" scale="3" id="f-151">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-152">1,035</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:fixed-zero" scale="3" id="f-153">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income (loss) before income taxes<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-154">64,920</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-155">55,231</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-156">73,174</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-157">236,384</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income tax provision<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:IncomeTaxExpenseBenefit" format="ixt:num-dot-decimal" scale="3" id="f-158">1,512</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:IncomeTaxExpenseBenefit" scale="3" id="f-159">613</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeTaxExpenseBenefit" format="ixt:num-dot-decimal" scale="3" id="f-160">3,133</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:IncomeTaxExpenseBenefit" format="ixt:num-dot-decimal" scale="3" id="f-161">2,832</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 324.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-162">63,408</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-163">55,844</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-164">70,041</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-165">239,216</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income attributable to non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 45.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" scale="3" id="f-166">11</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" scale="3" id="f-167">540</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 45.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" scale="3" id="f-168">32</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NetIncomeLossAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-169">2,063</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354.75pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss) attributable to Blackstone <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">Mortgage Trust, Inc.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 354.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-170">63,397</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 354.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-171">56,384</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 354.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-172">70,009</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 354.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:NetIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-173">241,279</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 381pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Net income (loss) per share of common stock, <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); white-space: pre">basic and diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 381pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 43.67pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-174"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-175">0.37</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 381pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.71pt"></span></span><span style="left: 40.34pt; position: var(--position)">(<ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" sign="-" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-176"><ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" sign="-" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-177">0.32</ix:nonFraction></ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 381pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 43.67pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-1" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-178"><ix:nonFraction unitRef="usdPerShare" contextRef="c-1" decimals="2" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-179">0.41</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 381pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.71pt"></span></span><span style="left: 40.34pt; position: var(--position)">(<ix:nonFraction unitRef="usdPerShare" contextRef="c-17" decimals="2" sign="-" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-180"><ix:nonFraction unitRef="usdPerShare" contextRef="c-17" decimals="2" sign="-" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-181">1.39</ix:nonFraction></ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 407.25pt; width: 216pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-average shares of common stock <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 216pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">outstanding, basic and diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216pt; position: var(--position); top: 407.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-15" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-182"><ix:nonFraction unitRef="shares" contextRef="c-15" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-183">171,812,685</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 284.25pt; position: var(--position); top: 407.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-16" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-184"><ix:nonFraction unitRef="shares" contextRef="c-16" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-185">173,637,101</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 407.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-186"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-187">171,903,127</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 407.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-188"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-189">173,881,116</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 578.13pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 182.38pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_25"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 168.99pt; position: var(--position); white-space: pre">Consolidated Statements of Comprehensive <span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 357.21000000000004pt; position: var(--position); text-decoration: none; white-space: pre">Income (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 275.58pt; position: var(--position); white-space: pre">(in thousands)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 102.3pt; width: 612pt"><div style="font-size: 0pt; left: 61.12pt; position: var(--position); top: 0pt; width: 489.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 219pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 219pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.24pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 30.34pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 0pt; width: 134.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.93pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 219pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 33.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-190">63,408</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 33.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-191">55,844</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 33.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-192">70,041</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 33.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-193">239,216</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive (loss) income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized (loss) gain on foreign currency <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">translation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 63.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-194">25,288</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 63.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-195">91,072</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 63.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-196">181,093</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 63.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-197">49,009</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Realized and unrealized gain (loss) on derivative <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">financial instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 90pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-198">25,174</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 90pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-199">90,309</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 90pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-200">178,488</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 90pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-201">47,372</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 116.25pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized loss on derivative financial <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">instruments from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" scale="3" id="f-202">364</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:fixed-zero" scale="3" id="f-203">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-204">1,553</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:fixed-zero" scale="3" id="f-205">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 142.5pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive (loss) income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 142.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-206">478</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 142.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-207">763</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 142.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-208">1,052</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 142.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-209">1,637</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 157.5pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Comprehensive income (loss)<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 157.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-210">62,930</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 157.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-211">55,081</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 157.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-212">71,093</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 157.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-213">237,579</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Comprehensive income attributable to non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 45.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" scale="3" id="f-214">11</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" scale="3" id="f-215">540</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 45.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" scale="3" id="f-216">32</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-217">2,063</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198.75pt; width: 219pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Comprehensive income (loss) attributable to <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 219pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 219pt; position: var(--position); top: 198.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-218">62,919</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 198.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:ComprehensiveIncomeNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-219">55,621</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 355.5pt; position: var(--position); top: 198.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ComprehensiveIncomeNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-220">71,061</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 198.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:ComprehensiveIncomeNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-221">239,642</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 344.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 182.38pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 756pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 179.93pt; position: var(--position); white-space: pre">Consolidated Statements of Changes in Equity (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 275.58pt; position: var(--position); white-space: pre">(in thousands) <span style="display: inline-block; height: 6.77pt"></span></span></div></div></div><div><div style="position: absolute; top: 91.8pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_28"></div><div style="position: var(--position); top: 91.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 134.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 38.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 134.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 0pt; width: 263.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 263.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 76.22pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 187.01999999999998pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 0pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 0pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 41.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 12.75pt; width: 38.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.24pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.13pt; position: var(--position); text-decoration: none; white-space: pre">Class A<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.43pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.36pt; position: var(--position); text-decoration: none; white-space: pre">Common<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.62pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.58pt; position: var(--position); text-decoration: none; white-space: pre"> Stock<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.11pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.67pt; position: var(--position); white-space: pre">Additional <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.77pt; position: var(--position); white-space: pre">Paid-<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.44pt; position: var(--position); white-space: pre">In Capital<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 40.3pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 12.75pt; width: 60.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.05pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.73pt; position: var(--position); text-decoration: none; white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.24pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.16pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.43pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.73pt; position: var(--position); text-decoration: none; white-space: pre"> Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.62pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.28pt; position: var(--position); text-decoration: none; white-space: pre">Income (Loss)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.98pt; position: var(--position); white-space: pre">Accumulated<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.31pt; position: var(--position); white-space: pre"> Deficit<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.94pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.09pt; position: var(--position); white-space: pre">Stockholders&#8217;<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.08pt; position: var(--position); white-space: pre"> Equity<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 39.17pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.11pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.44pt; position: var(--position); white-space: pre">Non-<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.11pt; position: var(--position); white-space: pre">Controlling<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7pt; position: var(--position); white-space: pre"> Interests<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.739999999999995pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.77pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.33pt; position: var(--position); white-space: pre">Equity<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.42pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 54pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-18" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-222">1,728</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-19" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-223">5,511,053</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 54pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-20" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-224">8,268</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 54pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-21" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-225">1,733,741</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 54pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-22" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-226">3,787,308</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 16.17pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-23" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-227">6,881</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-228">3,794,189</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Shares of class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">issued, net<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 68.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-24" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="3" id="f-229">1</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 33.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-25" decimals="-3" sign="-" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" scale="3" id="f-230">1</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 68.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 68.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 68.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueNewIssues" format="ixt:fixed-zero" scale="3" id="f-231">&#8212;</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 91.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Repurchases of class A common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">stock<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 91.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-24" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-232">18</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-25" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-233">31,629</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 91.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 91.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 91.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-234">31,647</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-235">31,647</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 114.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-24" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" scale="3" id="f-236">5</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 114.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-25" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-237">6,787</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 114.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 114.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 114.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-238">6,792</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 114.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 114.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-239">6,792</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 138pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 138pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-25" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-240">213</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 138pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 138pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 138pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-241">213</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 138pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 138pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-242">213</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 152.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 152.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 152.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-25" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-243">173</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 152.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 152.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 152.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-244">173</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 152.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 152.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-245">173</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 166.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net (loss) income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 166.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 166.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 166.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 166.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 32.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-28" decimals="-3" sign="-" name="us-gaap:ProfitLoss" scale="3" id="f-246">357</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 166.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 32.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" sign="-" name="us-gaap:ProfitLoss" scale="3" id="f-247">357</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 166.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 38.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-29" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-248">6</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 166.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" sign="-" name="us-gaap:ProfitLoss" scale="3" id="f-249">351</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 180.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 180.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 180.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 180.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 45.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-30" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-250">323</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 180.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 180.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-251">323</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 180.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 180.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-252">323</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 33pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 195pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Dividends declared on common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); white-space: pre">stock and deferred stock units, <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 23.11pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-26" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-253">0.47</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 44.620000000000005pt; position: var(--position); white-space: pre"> per share<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 195pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 195pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 195pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 195pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-28" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-254">80,837</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 195pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-27" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-255">80,837</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 195pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 195pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-256">80,837</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">interests<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 228pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 228pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 228pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 228pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 228pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 228pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-29" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-257">137</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 228pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-258">137</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 251.25pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2025<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 251.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-31" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-259">1,716</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 251.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-32" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-260">5,486,596</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 251.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-33" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-261">8,591</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 251.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-34" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-262">1,814,935</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 251.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-35" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-263">3,681,968</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 251.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 16.17pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-36" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-264">6,750</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 251.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-37" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-265">3,688,718</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 265.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Repurchases of class A common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">stock<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 265.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 265.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-38" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-266">39</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 265.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 265.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 265.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 35.71pt"></span></span><span style="left: 38.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-267">39</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 265.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 265.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-268">39</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 288.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 288.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 288.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-38" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-269">7,131</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 288.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 288.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 288.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 27.92pt"></span></span><span style="left: 30.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-270">7,131</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 288.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 288.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-271">7,131</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 312pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 312pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 312pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-38" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-272">160</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 312pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 312pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 312pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-273">160</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 312pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 312pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-274">160</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 326.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 326.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 326.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-38" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-275">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 326.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 326.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 326.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-276">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 326.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 326.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-277">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 340.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 340.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 340.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 340.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 340.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 27.92pt"></span></span><span style="left: 30.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-41" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-278">6,969</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 340.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 27.92pt"></span></span><span style="left: 30.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-279">6,969</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 340.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-42" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-280">15</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 340.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-281">6,984</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 354.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 354.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 354.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 35.42pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-43" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-282">1,207</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 354.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 354.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 27.92pt"></span></span><span style="left: 30.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-283">1,207</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 354.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 354.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="3" id="f-284">1,207</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 33pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 369pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Dividends declared on common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); white-space: pre">stock and deferred stock units, <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 23.11pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-40" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-285">0.47</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 44.620000000000005pt; position: var(--position); white-space: pre"> per share<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 369pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 369pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 369pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 369pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-41" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-286">80,796</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 369pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-39" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-287">80,796</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 369pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 369pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-288">80,796</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 402pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 402pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-44" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-289">1,716</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-45" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-290">5,494,020</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 402pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-46" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-291">9,798</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 402pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-47" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-292">1,888,762</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 402pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-48" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-293">3,616,772</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 16.17pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-49" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-294">6,765</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-50" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-295">3,623,537</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 416.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Repurchases of class A common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">stock<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 416.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 24.96pt"></span></span><span style="left: 27.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-51" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-296">9</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 416.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-52" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-297">16,057</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 416.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 416.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 416.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-298">16,066</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 416.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 416.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-299">16,066</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 439.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 439.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 439.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-52" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-300">7,130</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 439.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 439.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 439.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 27.92pt"></span></span><span style="left: 30.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-301">7,130</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 439.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 439.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.42pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-302">7,130</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 462.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 462.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 462.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-52" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-303">156</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 462.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 462.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 462.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-304">156</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 462.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 462.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-305">156</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 477pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 477pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 477pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-52" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-306">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 477pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 477pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 477pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-307">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 477pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-308">172</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 491.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 491.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 491.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 491.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 491.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.67pt"></span></span><span style="left: 26.3pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-54" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-309">63,397</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 491.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.67pt"></span></span><span style="left: 26.3pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-310">63,397</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 491.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-55" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-311">11</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 491.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 16.17pt"></span></span><span style="left: 18.8pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-312">63,408</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 505.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive loss<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 505.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 505.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 505.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.96pt"></span></span><span style="left: 41.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-56" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-313">478</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 505.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 505.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.46pt"></span></span><span style="left: 34.09pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-314">478</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 505.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 505.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.96pt"></span></span><span style="left: 26.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-315">478</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 33pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 519.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Dividends declared on common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); white-space: pre">stock and deferred stock units, <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 23.11pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-40" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-316">0.47</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 44.620000000000005pt; position: var(--position); white-space: pre"> per share<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 519.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 519.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 519.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 519.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-54" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-317">80,381</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 519.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 20.84pt"></span></span><span style="left: 23.47pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-53" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-318">80,381</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 519.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 519.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 13.34pt"></span></span><span style="left: 15.969999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-319">80,381</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 552.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">interests<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 552.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.54pt"></span></span><span style="left: 26.169999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 552.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 552.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 552.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 552.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 552.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-55" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-320">75</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 552.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-321">75</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 576pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 576pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-57" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-322">1,707</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 576pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-58" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-323">5,485,421</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 576pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-59" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-324">9,320</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 576pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-60" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-325">1,905,746</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 576pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-61" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-326">3,590,702</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 576pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 16.17pt"></span></span><span style="left: 23.05pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-62" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-327">6,701</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 576pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-328">3,597,403</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 756pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 179.93pt; position: var(--position); white-space: pre">Consolidated Statements of Changes in Equity (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 275.58pt; position: var(--position); white-space: pre">(in thousands) <span style="display: inline-block; height: 6.77pt"></span></span></div></div></div><div><div style="position: var(--position); top: 91.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 134.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 38.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 134.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 0pt; width: 263.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 263.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 76.22pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 187.01999999999998pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 0pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 0pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 41.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 12.75pt; width: 38.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.24pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.13pt; position: var(--position); text-decoration: none; white-space: pre">Class A<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.43pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.36pt; position: var(--position); text-decoration: none; white-space: pre">Common<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.62pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.58pt; position: var(--position); text-decoration: none; white-space: pre"> Stock<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.11pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.67pt; position: var(--position); white-space: pre">Additional <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.77pt; position: var(--position); white-space: pre">Paid-<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.44pt; position: var(--position); white-space: pre">In Capital<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 40.3pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 12.75pt; width: 60.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.05pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.73pt; position: var(--position); text-decoration: none; white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.24pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.16pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.43pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.73pt; position: var(--position); text-decoration: none; white-space: pre"> Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.62pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.28pt; position: var(--position); text-decoration: none; white-space: pre">Income (Loss)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.98pt; position: var(--position); white-space: pre">Accumulated<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.31pt; position: var(--position); white-space: pre"> Deficit<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.94pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.09pt; position: var(--position); white-space: pre">Stockholders&#8217;<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.08pt; position: var(--position); white-space: pre"> Equity<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 39.17pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.11pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.44pt; position: var(--position); white-space: pre">Non-<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.11pt; position: var(--position); white-space: pre">Controlling<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7pt; position: var(--position); white-space: pre"> Interests<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.739999999999995pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.3pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.77pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.49pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.33pt; position: var(--position); white-space: pre">Equity<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.42pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2023<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 54pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-63" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-329">1,732</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-64" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-330">5,507,459</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 54pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-65" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-331">9,454</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 54pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-66" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-332">1,150,934</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 54pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-67" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-333">4,367,711</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 11.92pt"></span></span><span style="left: 18.8pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-68" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-334">19,793</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 54pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-69" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-335">4,387,504</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 68.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-70" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" scale="3" id="f-336">4</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-71" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-337">7,907</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 68.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 68.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 68.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-338">7,911</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 68.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-339">7,911</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 91.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 91.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-71" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-340">253</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 91.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 91.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 91.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-341">253</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 91.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-342">253</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 107.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 107.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-71" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-343">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 107.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 107.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 107.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-344">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 107.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 107.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-345">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net (loss) income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 123pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 123pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 123pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 123pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-74" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-346">123,838</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 123pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 16.59pt"></span></span><span style="left: 19.22pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-347">123,838</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 123pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-75" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-348">668</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 123pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 9.84pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-349">123,170</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 138.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 138.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 138.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 45.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-76" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-350">416</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 138.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 138.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-351">416</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 138.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 138.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-352">416</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 33pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Dividends declared on common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); white-space: pre">stock and deferred stock units, <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 23.11pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-73" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-353"><ix:nonFraction unitRef="usdPerShare" contextRef="c-77" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-354">0.62</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 44.620000000000005pt; position: var(--position); white-space: pre"> per share<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 154.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 154.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 154.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 154.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-74" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-355">107,901</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 154.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 16.59pt"></span></span><span style="left: 19.22pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-72" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-356">107,901</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 154.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 154.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 9.84pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-357">107,901</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 187.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">interests<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 187.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 187.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 187.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 187.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 187.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 187.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-75" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-358">627</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 187.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 23.96pt"></span></span><span style="left: 26.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" scale="3" id="f-359">627</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2024<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 210.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-78" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-360">1,736</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-79" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-361">5,515,820</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 210.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 31.17pt"></span></span><span style="left: 38.050000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-80" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-362">9,870</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 210.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-81" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-363">1,382,673</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 210.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-82" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-364">4,144,753</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 11.92pt"></span></span><span style="left: 18.8pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-83" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-365">19,834</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-84" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-366">4,164,587</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 225.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 225.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 225.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-85" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-367">7,761</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 225.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 225.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 225.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-368">7,761</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 225.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 225.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-369">7,761</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 249pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-85" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-370">261</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 249pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 249pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 249pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-371">261</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-372">261</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 263.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 263.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 263.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-85" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-373">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 263.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 263.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 263.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-374">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 263.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 263.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-375">201</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 277.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net (loss) income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 277.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 277.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 277.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-87" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-376">61,057</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-377">61,057</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 277.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-88" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-378">855</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 277.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-379">60,202</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 291.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 291.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 291.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 291.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 45.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-89" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-380">458</ix:nonFraction><span style="display: inline-block; 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position: var(--position); top: 291.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-381">458</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 291.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 291.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-382">458</ix:nonFraction><span style="display: inline-block; 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 306pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 306pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 306pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; 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vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 306pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-86" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-386">107,873</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 306pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 306pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 9.84pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-387">107,873</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Contributions from non-<span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">controlling interests<span style="display: inline-block; 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position: var(--position); top: 339pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 339pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-88" decimals="-3" name="us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" format="ixt:num-dot-decimal" scale="3" id="f-388">1,245</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 339pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" format="ixt:num-dot-decimal" scale="3" id="f-389">1,245</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 362.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">interests<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 362.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 362.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 362.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 362.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 362.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 362.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.89pt; width: 17.59pt"></span></span><span style="left: 20.22pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-88" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="f-390">1,840</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 362.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 18.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="f-391">1,840</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 385.5pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">June&#160;30, 2024<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 385.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-90" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-392">1,736</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 385.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-91" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-393">5,524,043</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 385.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 26.92pt"></span></span><span style="left: 33.800000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-92" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-394">10,328</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 385.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-93" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-395">1,551,603</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 385.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-94" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-396">3,984,504</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 385.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 11.92pt"></span></span><span style="left: 18.8pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-95" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-397">20,094</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 385.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-96" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-398">4,004,598</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 399.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Repurchases of class A common<span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">stock<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 399.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-97" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="3" id="f-399">6</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 399.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-98" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-400">10,992</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 399.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 399.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 399.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-401">10,998</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 399.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 399.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="3" id="f-402">10,998</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 423pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">earned<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 423pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 423pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-98" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-403">7,728</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 423pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 423pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 423pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 31.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-404">7,728</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 423pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 423pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 24pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:StockGrantedDuringPeriodValueSharebasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-405">7,728</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 446.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Dividends reinvested<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 446.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 446.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-98" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-406">270</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 446.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 446.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 446.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-407">270</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 446.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 446.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:StockIssuedDuringPeriodValueDividendReinvestmentPlan" scale="3" id="f-408">270</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 460.5pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Deferred directors&#8217; compensation<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 460.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 460.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-98" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-409">256</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 460.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 460.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 460.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-410">256</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 460.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 460.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" scale="3" id="f-411">256</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 474.75pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Net (loss) income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 474.75pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 474.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 474.75pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 474.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-100" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-412">56,384</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 474.75pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-413">56,384</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 474.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-101" decimals="-3" name="us-gaap:ProfitLoss" scale="3" id="f-414">540</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 474.75pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-415">55,844</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 489pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Other comprehensive income<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 489pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 489pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 489pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 45.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-102" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-416">763</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 489pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 489pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-417">763</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 489pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 489pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetOfTax" scale="3" id="f-418">763</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 33pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 503.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); white-space: pre">Dividends declared on common <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); white-space: pre">stock and deferred stock units, <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 23.11pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-419">0.47</ix:nonFraction><span style="display: inline-block; height: 5.89pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 44.620000000000005pt; position: var(--position); white-space: pre"> per share<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 503.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 503.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 503.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 503.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-100" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-420">81,547</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 503.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 21.59pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-99" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-421">81,547</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 503.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 503.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 14.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-422">81,547</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 536.25pt; width: 134.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 17pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 8.5pt; position: var(--position); top: 13.43pt; width: 134.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 25.5pt; position: var(--position); text-decoration: none; white-space: pre">interests<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 536.25pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 536.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 536.25pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 49.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 536.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 536.25pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 42.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 536.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 18.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-101" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="f-423">4,829</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 536.25pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 18.34pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" format="ixt:num-dot-decimal" scale="3" id="f-424">4,829</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 559.5pt; width: 134.25pt"><div><div style="font-size: 12pt; line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 134.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Balance at <span style="display: inline-block; height: 5.75pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: bold; left: 42.730000000000004pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2024<span style="display: inline-block; height: 5.75pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 134.25pt; position: var(--position); top: 559.5pt; width: 38.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 38.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.67pt"></span></span><span style="left: 15.55pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-103" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-425">1,730</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 175.5pt; position: var(--position); top: 559.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-104" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-426">5,521,305</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 559.5pt; width: 60.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 26.92pt"></span></span><span style="left: 33.800000000000004pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-105" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-427">11,091</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 288pt; position: var(--position); top: 559.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 5.97pt"></span></span><span style="left: 12.850000000000001pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-106" decimals="-3" sign="-" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-428">1,689,534</ix:nonFraction>)<span style="display: inline-block; height: 5.89pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 344.25pt; position: var(--position); top: 559.5pt; width: 53.25pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 8.8pt"></span></span><span style="left: 15.68pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-107" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-429">3,844,592</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 400.5pt; position: var(--position); top: 559.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 11.92pt"></span></span><span style="left: 18.8pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-108" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-430">15,805</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 449.25pt; position: var(--position); top: 559.5pt; width: 45.75pt"><div><div style="line-height: 8.5pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.89pt; width: 1.3pt"></span></span><span style="left: 8.18pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-109" decimals="-3" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="3" id="f-431">3,860,397</ix:nonFraction><span style="display: inline-block; height: 5.89pt; width: 2.83pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 8.5pt; position: var(--position); top: 670.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; <span style="display: inline-block; height: 5.89pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 680.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 8.5pt; font-style: normal; font-weight: normal; left: 179.2pt; position: var(--position); white-space: pre">&#160;  <span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 185.56pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_31"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 194.79pt; position: var(--position); white-space: pre">Consolidated Statements of Cash Flows (Unaudited) <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 275.58pt; position: var(--position); text-decoration: none; white-space: pre">(in thousands)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); top: 88.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 361.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows from operating activities<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 39.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-432">70,041</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 39.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:ProfitLoss" format="ixt:num-dot-decimal" scale="3" id="f-433">239,216</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Adjustments to reconcile net income (loss) to net cash provided by operating <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">activities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Non-cash compensation expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 81pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-434">21,570</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 81pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-435">24,058</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Amortization of deferred fees on loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:AmortizationOfDeferredLoanOriginationFeesNet" format="ixt:num-dot-decimal" scale="3" id="f-436">45,390</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:AmortizationOfDeferredLoanOriginationFeesNet" format="ixt:num-dot-decimal" scale="3" id="f-437">50,568</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Amortization of deferred financing costs and premiums/discounts on debt <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50pt; position: var(--position); text-decoration: none; white-space: pre">obligations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 111pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-438">27,331</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 111pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-439">32,185</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 137.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Payment-in-kind interest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 137.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:PaymentInKindInterestNetOfInterestReceived" format="ixt:num-dot-decimal" scale="3" id="f-440">13,448</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 137.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:PaymentInKindInterestNetOfInterestReceived" format="ixt:num-dot-decimal" scale="3" id="f-441">9,612</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 152.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase in current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 152.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="3" id="f-442">94,111</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 152.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="3" id="f-443">519,747</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 167.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Straight-line rental income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 167.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:StraightLineRent" format="ixt:num-dot-decimal" scale="3" id="f-444">1,791</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 167.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.25pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:StraightLineRent" format="ixt:fixed-zero" scale="3" id="f-445">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 182.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Gain on extinguishment of debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 182.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:fixed-zero" scale="3" id="f-446">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 182.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="3" id="f-447">5,352</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 197.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Depreciation and amortization of real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 197.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:DepreciationAndAmortization" format="ixt:num-dot-decimal" scale="3" id="f-448">47,960</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 197.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.75pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:DepreciationAndAmortization" format="ixt:num-dot-decimal" scale="3" id="f-449">1,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 212.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Income from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 212.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-450">1,035</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 212.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.25pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:fixed-zero" scale="0" id="f-451">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 227.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized loss (gain) on derivative financial instruments, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 227.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-452">3,059</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 227.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-453">6,346</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Realized gain on derivative financial instruments, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 242.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" format="ixt:num-dot-decimal" scale="3" id="f-454">16,846</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 242.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" format="ixt:num-dot-decimal" scale="3" id="f-455">6,923</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 257.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Changes in assets and liabilities, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 272.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Other assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 272.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncreaseDecreaseInOtherOperatingAssets" format="ixt:num-dot-decimal" scale="3" id="f-456">37,181</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 272.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:IncreaseDecreaseInOtherOperatingAssets" format="ixt:num-dot-decimal" scale="3" id="f-457">52,699</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.09pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:IncreaseDecreaseInOtherOperatingLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-458">12,398</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:IncreaseDecreaseInOtherOperatingLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-459">29,978</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 302.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net cash provided by operating activities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 302.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="3" id="f-460">139,565</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 302.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" format="ixt:num-dot-decimal" scale="3" id="f-461">281,908</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 317.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows from investing activities<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 331.5pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Principal fundings of loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 331.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsForProceedsFromLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-462">3,931,823</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 331.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsForProceedsFromLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-463">982,229</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 346.5pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Principal collections, sales proceeds, and cost-recovery proceeds from loans <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 346.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProceedsFromSaleAndCollectionOfLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-464">4,771,001</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 346.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ProceedsFromSaleAndCollectionOfLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-465">3,135,968</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 372.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Origination and other fees received on loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 372.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:ProceedsFromLoanOriginationAndOtherLoanReceivableFees" format="ixt:num-dot-decimal" scale="3" id="f-466">46,882</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 372.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:ProceedsFromLoanOriginationAndOtherLoanReceivableFees" format="ixt:num-dot-decimal" scale="3" id="f-467">26,140</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 387.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Payments under derivative financial instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 387.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsForDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-468">198,264</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 387.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsForDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-469">140,566</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 402.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Receipts under derivative financial instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 402.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProceedsFromDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-470">96,102</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 402.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ProceedsFromDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-471">56,767</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 417.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Collateral deposited under derivative agreements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 417.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-472">391,380</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 417.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-473">184,220</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 432.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Return of collateral deposited under derivative agreements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 432.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-474">396,190</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 432.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-475">238,640</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 447.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 447.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsToAcquireEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-476">178,664</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 447.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsToAcquireEquityMethodInvestments" format="ixt:fixed-zero" scale="3" id="f-477">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 462.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Capital expenditures on real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 462.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="bxmt:CapitalExpenditureRealEstateOwned" format="ixt:num-dot-decimal" scale="3" id="f-478">8,480</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 462.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:CapitalExpenditureRealEstateOwned" format="ixt:fixed-zero" scale="3" id="f-479">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 477.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net cash provided by investing activities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 477.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-480">601,564</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 477.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" format="ixt:num-dot-decimal" scale="3" id="f-481">2,150,500</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 597.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); white-space: pre">continued&#8230;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 621.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 182.38pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.5pt; position: var(--position); white-space: pre">9<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 236.75pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc. <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 194.79pt; position: var(--position); white-space: pre">Consolidated Statements of Cash Flows (Unaudited)<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 275.58pt; position: var(--position); white-space: pre">(in thousands) <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 361.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 361.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 361.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows from financing activities<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings under secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 39.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-110" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-482">2,956,828</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 39.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-111" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-483">1,016,974</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments under secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 54.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-110" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-484">3,299,746</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 54.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-111" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-485">2,742,691</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Proceeds from issuance of securitized debt obligations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 69.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:ProceedsFromIssuanceOfCollateralizedLoanObligations" format="ixt:num-dot-decimal" scale="3" id="f-486">831,250</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 69.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:ProceedsFromIssuanceOfCollateralizedLoanObligations" format="ixt:fixed-zero" scale="3" id="f-487">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments of securitized debt obligations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 84.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-112" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-488">193,342</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 84.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-113" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-489">259,081</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings under asset-specific debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 99.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-114" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-490">334,460</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 99.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-115" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-491">197,141</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments under asset-specific debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 114.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-114" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-492">936,275</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 114.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-115" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:fixed-zero" scale="3" id="f-493">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments of loan participations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 129.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RepaymentsOfLoanParticipations" format="ixt:num-dot-decimal" scale="3" id="f-494">104,028</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 129.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RepaymentsOfLoanParticipations" format="ixt:num-dot-decimal" scale="3" id="f-495">235,960</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net proceeds from term loan borrowings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 144.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-116" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-496">50,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 144.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-117" decimals="-3" name="us-gaap:ProceedsFromIssuanceOfLongTermDebt" format="ixt:fixed-zero" scale="3" id="f-497">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments and repurchases of term loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-116" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-498">6,310</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-117" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-499">18,797</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 174.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repurchases of senior secured notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 174.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-118" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:fixed-zero" scale="3" id="f-500">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 174.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-119" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-501">27,222</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 189.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repayments and repurchases of convertible notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 189.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-120" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:fixed-zero" scale="3" id="f-502">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 189.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-3" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-503">31,424</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 204.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Payment of deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 204.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsOfFinancingCosts" format="ixt:num-dot-decimal" scale="3" id="f-504">36,541</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 204.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsOfFinancingCosts" format="ixt:num-dot-decimal" scale="3" id="f-505">18,126</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 219.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Contributions from non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 219.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProceedsFromMinorityShareholders" format="ixt:fixed-zero" scale="3" id="f-506">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 219.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ProceedsFromMinorityShareholders" format="ixt:num-dot-decimal" scale="3" id="f-507">1,245</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 234.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Distributions to non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 234.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsToMinorityShareholders" scale="3" id="f-508">212</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 234.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsToMinorityShareholders" format="ixt:num-dot-decimal" scale="3" id="f-509">7,296</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Dividends paid on class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 249.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsOfDividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-510">242,492</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 249.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsOfDividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-511">322,712</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 264.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Repurchases of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 264.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsForRepurchaseOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-512">47,752</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 264.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:PaymentsForRepurchaseOfCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-513">10,998</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 279.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net cash used in financing activities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="3" id="f-514">694,160</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 279.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" format="ixt:num-dot-decimal" scale="3" id="f-515">2,458,947</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net increase (decrease) in cash and cash equivalents<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" format="ixt:num-dot-decimal" scale="3" id="f-516">46,969</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 294.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" format="ixt:num-dot-decimal" scale="3" id="f-517">26,539</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents at beginning of period<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-518">323,483</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 309.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-69" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-519">350,014</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 324.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Effects of currency translation on cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-520">7,469</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 324.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-521">1,371</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents at end of period<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-522">377,921</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 339.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-109" decimals="-3" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-523">322,104</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354.75pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Supplemental disclosure of cash flows information<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 369pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Payments of interest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 369pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:InterestPaidNet" format="ixt:num-dot-decimal" scale="3" id="f-524">736,904</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 369pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:InterestPaidNet" format="ixt:num-dot-decimal" scale="3" id="f-525">993,434</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 384pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Payments of income taxes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 384pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeTaxesPaidNet" format="ixt:num-dot-decimal" scale="3" id="f-526">3,424</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 384pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:IncomeTaxesPaidNet" format="ixt:num-dot-decimal" scale="3" id="f-527">4,653</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 399pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Supplemental disclosure of non-cash investing and financing activities<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 413.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared, not paid<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 413.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DividendsPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-528">80,238</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 413.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-109" decimals="-3" name="us-gaap:DividendsPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-529">81,306</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 428.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loan principal payments held by servicer, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 428.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:LoanPrincipalPaymentsHeldByServicer" format="ixt:num-dot-decimal" scale="3" id="f-530">199,492</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 428.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:LoanPrincipalPaymentsHeldByServicer" format="ixt:num-dot-decimal" scale="3" id="f-531">26,269</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 443.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Transfer of senior loan to real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 443.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:TransferToOtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-532">358,088</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 443.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:TransferToOtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-533">139,239</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 458.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assumption of other assets and liabilities related to real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 458.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-534">48,184</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 458.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-535">16,256</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 473.25pt; width: 361.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 361.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued capital expenditures on real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 473.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" scale="3" id="f-536">19</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 473.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" scale="3" id="f-537">100</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; white-space: pre"><span style="left: 58.5pt; position: var(--position); width: 0pt"><span style="display: inline-block; height: 6.93pt; width: 36pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); top: 605.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 182.38pt; position: var(--position); white-space: pre">See accompanying notes to consolidated financial statements.<span style="display: inline-block; height: 6.94pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 25.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 37.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 186.74pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_34"></div><div style="position: absolute; top: 77.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_37"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 77.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">1. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" id="f-538" continuedAt="f-538-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ORGANIZATION<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-538-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 95pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">References herein to &#8220;Blackstone Mortgage Trust,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221; refer to Blackstone Mortgage Trust,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 396.75pt">Inc., a Maryland corporation, and its subsidiaries unless the context specifically requires otherwise.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 455.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 130pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Blackstone Mortgage Trust is a real estate finance company that originates, acquires, and manages senior loans and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">debt or credit-oriented investments collateralized by or relating to commercial real estate in North America, Europe, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Australia. Our portfolio is composed primarily of senior loans secured by high-quality, institutional assets located in major<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">markets, and sponsored by experienced, well-capitalized real estate investment owners and operators. We finance our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">investments in a variety of ways, including borrowing under our credit facilities, issuing collateralized loan obligations, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">CLOs, or single-asset securitizations, asset-specific financings, syndicating senior loan participations, and corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financing, depending on our view of the most prudent financing option available for each of our investments. We are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">externally managed by BXMT Advisors L.L.C., or our Manager, a subsidiary of Blackstone Inc., or Blackstone, and are a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 476.71pt">real estate investment trust, or REIT, traded on the New York Stock Exchange, or NYSE, under the symbol &#8220;BXMT.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.28pt"> Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 404.33pt">principal executive offices are located at 345 Park Avenue, 24th Floor, New York, New York 10154.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">We conduct our operations as a REIT for U.S. federal income tax purposes. We generally will not be subject to U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">income taxes on our taxable income to the extent that we annually distribute all of our net taxable income to stockholders<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">and maintain our qualification as a REIT. We also operate our business in a manner that permits us to maintain an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">exclusion from registration under the Investment Company Act of 1940, as amended. We are organized as a holding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.08pt">company and conduct our business primarily through our various subsidiaries.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 332.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_40"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 10pt">2. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" id="f-539" continuedAt="f-539-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.97pt">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 329.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-539-1" continuedAt="f-539-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 350pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">principles generally accepted in the United States of America, or GAAP, for interim financial information and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The consolidated financial statements, including the notes<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">thereto, are unaudited and exclude some of the disclosures required in audited financial statements. We believe we have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">made all necessary adjustments, consisting of only normal recurring items, so that the consolidated financial statements are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">presented fairly and that estimates made in preparing our consolidated financial statements are reasonable and prudent. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">operating results presented for interim periods are not necessarily indicative of the results that may be expected for any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">other interim period or for the entire year. The accompanying unaudited consolidated interim financial statements should<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.87pt">the fiscal year ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.83pt"> filed with the Securities and Exchange Commission, or the SEC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:BasisOfAccountingPolicyPolicyTextBlock" id="f-540" continuedAt="f-540-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.37pt">Basis of Presentation<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-540-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The accompanying consolidated financial statements include, on a consolidated basis, our accounts, the accounts of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">wholly-owned subsidiaries, majority-owned subsidiaries, and variable interest entities, or VIEs, of which we are the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 414.72pt">primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ConsolidationPolicyTextBlock" id="f-541" continuedAt="f-541-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.47pt">Principles of Consolidation<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 173.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-541-1" continuedAt="f-541-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We consolidate all entities that we control through either majority ownership or voting rights. In addition, we consolidate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">all VIEs of which we are considered the primary beneficiary. VIEs are defined as entities in which equity investors (i) do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">not have an interest with the characteristics of a controlling financial interest and/or (ii) do not have sufficient equity at risk<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for the entity to finance its activities without additional subordinated financial support from other parties. The entity that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">consolidates a VIE is known as its primary beneficiary and is generally the entity with (i) the power to direct the activities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">that most significantly affect the VIE&#8217;s economic performance and (ii) the right to receive benefits from the VIE or the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">obligation to absorb losses of the VIE that could be significant to the VIE. Entities that do not qualify as VIEs are generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">considered voting interest entities, or VOEs, and are evaluated for consolidation under the voting interest model. VOEs are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 662.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.71pt">consolidated when we control the entity through a majority voting interest or other means.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">For consolidated entities, the non-controlling partner&#8217;s share of the assets, liabilities, and operations of each joint venture is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">included in non-controlling interests as a component of total equity. The non-controlling partner&#8217;s interest is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.59pt">computed as the joint venture partner&#8217;s ownership percentage.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">11<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-2" continuedAt="f-539-3"><div><ix:continuation id="f-541-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">When the requirements for consolidation are not met and we have significant influence over the operations of the entity, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.89pt">investment is accounted for under the equity method of accounting.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.97pt"> Investments in unconsolidated entities for which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not elected the fair value option, or FVO, are initially recorded at cost and subsequently adjusted for our pro-rata<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">share of net income, contributions and distributions. When we elect the FVO, we record our share of the net asset value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 214.44pt">the entity and any related unrealized gains and losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We review our investments in unconsolidated entities for impairment each quarter or when there is an event or change in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">circumstances that indicates a decrease in value. If there is a decrease in value due to a series of operating losses or other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 492.2pt">factors, the investment is evaluated to determine if the loss in value is considered other than temporary. Although a curren<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">t<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">fair value below the carrying value of the investment is an indicator of impairment, we will only recognize an impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">if the loss in value is determined to be an other than temporary impairment. If an impairment is determined to be other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">temporary, we will record an impairment charge sufficient to reduce the investment&#8217;s carrying value to its fair value, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">would result in a new cost basis. This new cost basis will be used for future periods when recording subsequent income or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.82pt">loss and cannot be written up to a higher value as a result of increases in fair value.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In 2017, we entered into a joint venture with Walker &amp; Dunlop Inc., or Walker &amp; Dunlop, to originate, hold, and finance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">multifamily bridge loans, which we refer to as our Multifamily Joint Venture. Pursuant to the terms of the agreements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.83pt">governing the joint venture, Walker &amp; Dunlop contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.33000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-122" decimals="2" name="us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners" scale="-2" id="f-542">15</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 212pt"> of the venture&#8217;s equity capital and we contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-123" decimals="2" name="us-gaap:MinorityInterestOwnershipPercentageByParent" scale="-2" id="f-543">85</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">We consolidate our Multifamily Joint Venture as we have a controlling financial interest. The non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">included on our consolidated balance sheets represent the equity interests in our Multifamily Joint Venture that are owned<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">by Walker &amp; Dunlop. A portion of our Multifamily Joint Venture&#8217;s consolidated equity and results of operations are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">allocated to these non-controlling interests based on Walker &amp; Dunlop&#8217;s pro rata ownership of our Multifamily Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">Venture.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">In 2024, we entered into a joint venture with a Blackstone-advised investment vehicle to invest in triple net lease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.6pt">properties, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.8pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.81pt">. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.79pt">Net Lease Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.14pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-124" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-544">75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.05pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.3pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.86pt">We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.59pt"> do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.71pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.83pt"> as we do not have a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.11pt">controlling financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.44pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.32pt"> is accounted for under the equity method, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.13pt">is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.67pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.16pt"> on our consolidated balance sheets, and our pro-rata share of income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.59pt">(loss) is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In the second quarter of 2025, we entered into a joint venture with a Blackstone-advised investment vehicle to acquire<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.46pt">portfolios of performing commercial mortgage loans, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.6pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.78pt">. During<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.19pt">the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.81pt">, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.72pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.37pt"> acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.12pt"> portfolios of performing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 287.08pt">commercial mortgage loans. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.04pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.68pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-125" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-545">35</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.79pt"> as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.17pt">. We do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.24pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.46pt"> as we do not have a controlling<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.36pt">financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.8pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.8pt"> is accounted for using the FVO, and is recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.83pt">as an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.54pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.51pt"> on our consolidated balance sheets, and our pro-rata share of any unrealized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.77pt">gains and losses is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:UseOfEstimates" id="f-546" continuedAt="f-546-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">Use of Estimates<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-546-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 551.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.74pt">period. Actual results may ultimately differ materially from those estimates.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 604pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:RevenueRecognitionInterest" id="f-547" continuedAt="f-547-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.2pt">Revenue Recognition<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 148.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-547-1" continuedAt="f-547-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Interest income from our loans receivable portfolio is recognized over the life of each loan using the effective interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">method and is recorded on the accrual basis. Recognition of fees, premiums, and discounts associated with these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.05pt">investments is deferred and recorded over the term of the loan as an adjustment to yield.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.08pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.84pt">Income accrual is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">suspended for loans at the earlier of the date at which payments become 90 days past due or when, in our opinion, recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.48pt">of income and principal becomes doubtful<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 229.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 321.01pt"> Interest received is then recorded as income or as a reduction in the amortized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">cost basis, based on the specific facts and circumstances, until accrual is resumed when the loan becomes contractually<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.79pt">current <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.94pt">and performance is demonstrated to be resumed.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.24pt"> In addition, for loans we originate, the related origination expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">are deferred and recognized as a reduction to interest income, however expenses related to loans we acquire are included in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.63pt">general and administrative expenses as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-3" continuedAt="f-539-4"><div><ix:continuation id="f-547-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">The sources of revenue from our REO assets, which is included in revenue from real estate owned on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 337.33pt">statements of operations, and the related revenue recognition policies are as follows:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Rental income primarily consists of base rent income arising from tenant leases at our office and multifamily properties.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">We begin to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.68pt">space.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Other operating income primarily consists of income from our hospitality properties and tenant reimbursement income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Revenue from our hospitality properties consists primarily of room revenue and food and beverage revenue. Room revenue<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.78pt">maintenance, real estate taxes, and other recoverable costs included in lease agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">We evaluate the collectibility of receivables related to rental revenue on an individual lease basis and exercise judgment in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">assessing collectability considering the length of time a receivable has been outstanding, tenant credit-worthiness, payment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">history, available information about the financial condition of the tenant, and current economic trends, among other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.04pt">Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock" id="f-548" continuedAt="f-548-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.49pt">Cash and Cash Equivalents<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-548-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Cash and cash equivalents represent cash held in banks and liquid investments with original maturities of three months or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.98pt">less<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.4pt"> We may have bank balances in excess of federally insured amounts; however, we deposit our cash and cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">equivalents with high credit-quality institutions to minimize credit risk exposure. We have not experienced, and do not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.69pt">expect, any losses on our cash or cash equivalents. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.77pt">As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.58pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.02pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.6pt">we had<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.52pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 543.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="INF" name="us-gaap:RestrictedCash" format="ixt:fixed-zero" scale="0" id="f-549"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="INF" name="us-gaap:RestrictedCash" format="ixt:fixed-zero" scale="0" id="f-550">no</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.15pt">restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.06pt"> cash on our consolidated balance <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.41pt">sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:FinanceLoansAndLeasesReceivablePolicy" id="f-551" continuedAt="f-551-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.65pt">Loans Receivable<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-551-1" continuedAt="f-551-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">We originate and purchase commercial real estate debt and related instruments generally to be held as long-term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.5pt; width: 612pt"><ix:continuation id="f-551-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.94pt">investments at amortized cost.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:CreditLossFinancialInstrumentPolicyTextBlock" id="f-552" continuedAt="f-552-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 173.69pt">Current Expected Credit Losses Reserve<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-552-1" continuedAt="f-552-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The current expected credit loss, or CECL, reserve required under the Financial Accounting Standards Board, or FASB,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Accounting Standards Codification, or ASC, Topic 326 &#8220;Financial Instruments &#8211; Credit Losses,&#8221; or ASC 326, reflects our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">current estimate of potential credit losses related to our loans and notes receivable included in our consolidated balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">sheets. Changes to the CECL reserves are recognized through net income on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">While ASC 326 does not require any particular method for determining the CECL reserves, it does specify the reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">should be based on relevant information about past events, including historical loss experience, current portfolio and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">market conditions, and reasonable and supportable forecasts for the duration of each respective loan. In addition, other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">a few narrow exceptions, ASC 326 requires that all financial instruments subject to the CECL model have some amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">loss reserve to reflect the principle underlying the CECL model that all loans and similar assets have some inherent risk of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.16pt">loss, regardless of credit quality, subordinate capital, or other mitigating factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We estimate our CECL reserves primarily using the Weighted-Average Remaining Maturity, or WARM method, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">has been identified as an acceptable loss-rate method for estimating CECL reserves in FASB Staff Q&amp;A Topic 326, No. 1.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The WARM method requires us to reference historic loan loss data across a comparable data set and apply such loss rate to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">each of our loans over their expected remaining term, taking into consideration expected economic conditions over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">relevant time frame. We apply the WARM method for the majority of our loan portfolio, which consists of loans that share<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">similar risk characteristics. In certain instances, for loans with unique risk characteristics, we may instead use a probability-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 469.45pt">weighted model that considers the likelihood of default and expected loss given default for each such individual loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 663pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Application of the WARM method to estimate CECL reserves requires judgment, including (i) the appropriate historical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">loan loss reference data, (ii) the expected timing and amount of future loan fundings and repayments, and (iii) the current<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit quality of our portfolio and our expectations of performance and market conditions over the relevant time period. To<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">estimate the historic loan losses relevant to our portfolio, we have augmented our historical loan performance, with market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">loan loss data licensed from Trepp LLC. This database includes commercial mortgage-backed securities, or CMBS, issued<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.35pt">since January 1, 1999 through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.04pt">August&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.45pt">. Within this database, we focused our historical loss reference calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-552-2" continuedAt="f-552-3"><ix:continuation id="f-539-4" continuedAt="f-539-5"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">on the most relevant subset of available CMBS data, which we determined based on loan metrics that are most comparable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">to our loan portfolio including asset type, geography, and origination loan-to-value, or LTV. We believe this CMBS data,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">which includes month-over-month loan and property performance, is the most relevant, available, and comparable dataset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.57pt">to our portfolio.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Our loans typically include commitments to fund incremental proceeds to our borrowers over the life of the loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">future funding commitments are also subject to the CECL model. The CECL reserve related to future loan fundings is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">recorded as a component of other liabilities on our consolidated balance sheets. This CECL reserve is estimated using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same process outlined above for our outstanding loan balances, and changes in this component of the CECL reserve will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">similarly impact our consolidated net income. For both the funded and unfunded portions of our loans, we consider our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.25pt">internal risk rating of each loan as the primary credit quality indicator underlying our assessment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The CECL reserves are measured on a collective basis wherever similar risk characteristics exist within a pool of similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.37pt">assets. We have identified the following pools and measure the reserve for credit losses using the following methods:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 526.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.25pt">U.S. Loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.68pt">: WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.02pt">Non-U.S. Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.87pt"> WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.04pt">Unique Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.98pt"> a probability of default and loss given default model, assessed on an individual basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.58pt">Impaired Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.07999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 381.21pt">impairment is indicated when it is deemed probable that we will not be able to collect all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">amounts due to us pursuant to the contractual terms of the loan. Determining that a loan is impaired requires<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">significant judgment from management and is based on several factors including (i) the underlying collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">performance, (ii) discussions with the borrower, (iii) borrower events of default, and (iv) other facts that impact<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">the borrower&#8217;s ability to pay the contractual amounts due under the terms of the loan. If a loan is determined to be<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">impaired, we record the impairment as a component of our CECL reserves by applying the practical expedient for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">collateral dependent loans. The CECL reserves are assessed on an individual basis for these loans by comparing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">the estimated fair value of the underlying collateral, less costs to sell, to the book value of the respective loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">These valuations require significant judgments, which include assumptions regarding capitalization rates, discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">rates, leasing, creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">sponsorship, actions of other lenders, and other factors deemed relevant by us. Actual losses, if any, could<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">ultimately differ materially from these estimates. We only expect to charge off the impairment losses in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.87pt">consolidated financial statements prepared in accordance with GAAP if and when such amounts are deemed non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">recoverable. This is generally at the time a loan is repaid or foreclosed, or the underlying collateral assets are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">otherwise consolidated. However, non-recoverability may also be concluded if, in our determination, it is nearly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.65pt">certain that all amounts due will not be collected.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 499.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.82pt">Contractual Term and Unfunded Loan Commitments<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 270.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Expected credit losses are estimated over the contractual term of each loan, adjusted for expected repayments. As part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">our quarterly review of our loan portfolio, we assess the expected repayment date of each loan, which is used to determine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.71pt">the contractual term for purposes of computing our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Additionally, the expected credit losses over the contractual period of our loans are subject to the obligation to extend<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">credit through our unfunded loan commitments. The CECL reserve for unfunded loan commitments is adjusted quarterly,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">as we consider the expected timing of future funding obligations over the estimated life of the loan. The considerations in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">estimating our CECL reserve for unfunded loan commitments are similar to those used for the related outstanding loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.52pt">receivable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.02000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.67pt">Credit Quality Indicator<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 156.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Our risk rating is our primary credit quality indicator in assessing our current expected credit loss reserve. We perform a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">quarterly risk review of our portfolio of loans, and assign each loan a risk rating based on a variety of factors, including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">without limitation, origination LTV, debt yield, property type, geographic and local market dynamics, physical condition,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">cash flow volatility, leasing and tenant profile, loan structure and exit plan, and project sponsorship. Based on a 5-point<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-5" continuedAt="f-539-6"><div><ix:continuation id="f-552-3" continuedAt="f-552-4"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">scale, our loans are rated &#8220;l&#8221; through &#8220;5,&#8221; from less risk to greater risk, relative to our loan portfolio in the aggregate, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.41pt">ratings are defined as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">1 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.4pt">Very Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 158.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">2 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.82pt">Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">3 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.02pt">Medium Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 152.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">4 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.63pt">High Risk/Potential for Loss:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.87pt"> A loan that has a risk of realizing a principal loss.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">5 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.94pt">Impaired/Loss Likely:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.93pt"> A loan that has a very high risk of realizing a principal loss or has otherwise incurred a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.05pt">principal loss.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 194pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.37pt">Estimation of Economic Conditions<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 200.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 211.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">In addition to the WARM method computations and probability-weighted models described above, our CECL reserves are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">also adjusted to reflect our estimation of the current and future economic conditions that impact the performance of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">commercial real estate assets securing our loans. These estimations include unemployment rates, interest rates, expectations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">of inflation and/or recession, and other macroeconomic factors impacting the likelihood and magnitude of potential credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">losses for our loans during their anticipated term. In addition to the CMBS data we have licensed from Trepp LLC, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">have also licensed certain macroeconomic financial forecasts to inform our view of the potential future impact that broader<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">economic conditions may have on our loan portfolio&#8217;s performance. We generally also incorporate information from other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sources, including information and opinions available to our Manager, to further inform these estimations. This process<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">requires significant judgments about future events that, while based on the information available to us as of the balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sheet date, are ultimately indeterminate and the actual economic condition impacting our portfolio could vary significantly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><ix:continuation id="f-552-4"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">from the estimates we made as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:RealEstateOwnedPolicyPolicyTextBlock" id="f-553" continuedAt="f-553-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">Real Estate Owned<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-553-1" continuedAt="f-553-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">We may assume legal title, physical possession, or control of the collateral underlying a loan through a foreclosure, a deed-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">in-lieu of foreclosure transaction, or a loan modification in which we receive an equity interest in and/or control over<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.16pt">decision-making at the property, resulting in us consolidating the real estate assets as VIEs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.24pt"> Th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.57pt">ese real estate acquisitions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">are classified as real estate owned, or REO, on our consolidated balance sheet and are initially recognized at fair value on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 398.76pt">the acquisition date in accordance with the ASC Topic 805, &#8220;Business Combinations,&#8221; or ASC 805.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Upon acquisition of REO assets, we assess the fair value of acquired tangible and intangible assets, which may include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">land, buildings, tenant improvements, &#8220;above-market&#8221; and &#8220;below-market&#8221; leases, acquired in-place leases, other identified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">intangible assets and assumed liabilities, as applicable, and allocate the fair value to the acquired assets and assumed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.79pt">liabilities. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.07pt"><span style="background-color: inherit">We assess and consider fair value based on estimated cash flow projections that utilize discount and/or</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt"><span style="background-color: inherit">capitalization rates that we deem appropriate, as well as other available market information. Estimates of future cash flows</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt"><span style="background-color: inherit">are based on a number of factors including the historical operating results, known and anticipated trends, and market and</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.96pt"><span style="background-color: inherit">economic conditions. </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.32pt">We capitalize acquisition-related costs associated with asset acquisitions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Real estate assets held for investment, except for land, are depreciated using the straight-line method over the assets&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.62pt">estimated useful lives of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonNumeric contextRef="c-126" name="bxmt:RealEstateOwnedUsefulLife" format="ixt-sec:duryear" id="f-554">40</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.61pt"> for buildings and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonNumeric contextRef="c-127" name="bxmt:RealEstateOwnedUsefulLife" format="ixt-sec:duryear" id="f-555">10</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.85pt"> for tenant improvements. Renovations and/or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">replacements that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Lease intangibles are amortized over the remaining term of applicable leases on a straight-line basis. The cost of ordinary<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.55pt">repairs and maintenance are expensed as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">Real estate assets held for investment are assessed for impairment on a quarterly basis. If the depreciated cost basis of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.61pt">asset exceeds the undiscounted cash <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 164.09pt">flows over the remaining holding period<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.13pt">, the asset is considered for <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.04pt">impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.07pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.84pt">impairment loss is recognized when the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.39pt">carrying value of the real estate assets exceed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.57pt"> their fair value. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.1pt"><span style="background-color: inherit">The evaluation of</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 422.46pt"><span style="background-color: inherit">rates, capital requirements and anticipated holding periods that could differ materially from actual results.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Real estate assets are classified as held for sale in the period when they meet the criteria under ASC Topic 360 &#8220;Property,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Plant, and Equipment.&#8221; Once a real estate asset is classified as held for sale, depreciation is suspended and the asset is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 288.18pt">reported at the lower of its carrying value or fair value less cost to sell<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.65pt">. If circumstances arise and we decide not to sell a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">real estate asset previously classified as held for sale, the real estate asset is reclassified as held for investment. Upon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">reclassification, the real estate asset is measured at the lower of (i) its carrying amount prior to classification as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">15<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-6" continuedAt="f-539-7"><div><ix:continuation id="f-553-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">sale, adjusted for depreciation expense that would have been recognized had the real estate been classified as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.05pt">investment, and (ii) its estimated fair value at the time of reclassification.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.08pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-3" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" scale="0" id="f-556">10</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.85pt">REO assets that were all classified as held for investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:RevenueFromContractWithCustomerPolicyTextBlock" id="f-557" continuedAt="f-557-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.8pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-557-1" continuedAt="f-557-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 136pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">In the second quarter of 2024, we entered into an agreement with M&amp;T Realty Capital Corporation, or MTRCC, a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">subsidiary of M&amp;T Bank, that allows our borrowers to access multifamily agency financing through MTRCC&#8217;s Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 159pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.2pt">Mae DUS and Freddie Mac Optigo lending platforms, or the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.37pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.42pt">. We will receive a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">portion of origination, servicing, and other fees for loans that we refer to MTRCC for origination under both the Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Mae and Freddie Mac programs. Additionally, we will share in losses with MTRCC and Fannie Mae on loans that we refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.5pt">to MTRCC for origination under the Fannie Mae program.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.59pt">Revenue Recognition<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">For loans that we refer to MTRCC for origination under both the Fannie Mae and Freddie Mac programs, we recognize our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 252pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">allocable portion of origination, servicing, and other fees in other income when we have satisfied our performance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">obligations in accordance with the &#8220;Revenue from Contracts with Customers&#8221; Topic of the FASB, or ASC 606. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">performance obligations are generally satisfied when the loan is referred by us to MTRCC and subsequently originated and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">sold under the Fannie Mae and Freddie Mac programs. A portion of the fees recognized, such as servicing fees, are variable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.21pt">and will be reevaluated for collectability on a recurring basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 327.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.02pt">Loss-sharing Obligation<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Pursuant to our agreement with MTRCC, we are subject to a loss-sharing obligation with respect to MTRCC&#8217;s obligation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">to partially guarantee the performance of loans that they originate and sell under the Fannie Mae program. This loss-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 368pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sharing agreement requires us to fund a fixed amount of cash into a segregated account based on the amount MTRCC is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.55pt">required to fund under the Fannie Mae program, with respect to loans we referred to MTRCC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">In addition, we will recognize a liability for these loss-sharing obligations. This liability will be initially recognized at fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value with a corresponding expense at inception, and it will subsequently be amortized on a straight-line basis over the life<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 471.82pt"><ix:continuation id="f-557-2">of the loss-sharing obligation. This liability is included within other liabilities in our consolidated balance sheets.</ix:continuation> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.06pt">As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.59pt">both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 79.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.07pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.18pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.23pt">, our maximum loss-sharing obligation associated with the loans referred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 225.53pt">by us to MTRCC under the Fannie Mae program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.81pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:GuaranteeObligationsMaximumExposure" format="ixt:num-dot-decimal" scale="6" id="f-558"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:GuaranteeObligationsMaximumExposure" format="ixt:num-dot-decimal" scale="6" id="f-559">5.5</ix:nonFraction></ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.69pt">, and we have recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.81pt">a related liability of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:GuaranteeObligationsCurrentCarryingValue" format="ixt:num-dot-decimal" scale="0" id="f-560"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:GuaranteeObligationsCurrentCarryingValue" format="ixt:num-dot-decimal" scale="0" id="f-561">32,000</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.51pt">There have been <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.33pt"> losses incurred as a result of the loss-sharing obligations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:DerivativesPolicyTextBlock" id="f-562" continuedAt="f-562-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.54pt">Derivative Financial Instruments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 200.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-562-1" continuedAt="f-562-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">We classify all derivative financial instruments as either other assets or other liabilities on our consolidated balance sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 519pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.19pt">at fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">On the date we enter into a derivative contract, we designate each contract as (i) a hedge of a net investment in a foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">operation, or net investment hedge, (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">or paid related to a recognized asset or liability, or cash flow hedge, (iii) a hedge of a recognized asset or liability, or fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value hedge, or (iv) a derivative instrument not to be designated as a hedging derivative, or non-designated hedge. For all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">derivatives other than those designated as non-designated hedges, we formally document our hedge relationships and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">designation at the contract&#8217;s inception. This documentation includes the identification of the hedging instruments and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 611.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">hedged items, its risk management objectives, strategy for undertaking the hedge transaction and our evaluation of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.07pt">effectiveness of its hedged transaction.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">On a quarterly basis, we also formally assess whether the derivative we designated in each hedging relationship is expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">to be, and has been, highly effective in offsetting changes in the value or cash flows of the hedged items. If it is determined<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">changes in fair value of the instrument are included in net income prospectively. Our net investment hedges are assessed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">using a method based on changes in spot exchange rates. Gains and losses, representing hedge components excluded from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">the assessment of effectiveness, are recognized in interest income on our consolidated statements of operations over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">contractual term of our net investment hedges on a systematic and rational basis, as documented at hedge inception in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 727pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">accordance with our accounting policy election. All other changes in the fair value of our derivative instruments that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-7" continuedAt="f-539-8"><div><ix:continuation id="f-562-2" continuedAt="f-562-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">qualify as hedges are reported as a component of accumulated other comprehensive income (loss) on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">financial statements. Deferred gains and losses are reclassified out of accumulated other comprehensive income (loss) and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">into net income in the same period or periods during which the hedged transaction affects earnings, and are presented in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same line item as the earnings effect of the hedged item. For cash flow hedges, this is typically when the periodic swap<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">settlements are made, while for net investment hedges, this occurs when the hedged item is sold or substantially liquidated.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">To the extent a derivative does not qualify for hedge accounting and is deemed a non-designated hedge, the changes in its<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.94pt">fair value are included in net income concurrently.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Proceeds or payments from periodic settlements of derivative instruments are classified on our consolidated statement of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><ix:continuation id="f-562-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.66pt">cash flows in the same section as the underlying hedged item.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 305.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:DebtPolicyTextBlock" id="f-563" continuedAt="f-563-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.97pt">Secured Debt and Asset-Specific Debt<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-563-1" continuedAt="f-563-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">We record investments financed with secured debt or asset-specific debt as separate assets and the related borrowings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">under any secured debt or asset-specific debt are recorded as separate liabilities on our consolidated balance sheets. Interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">income earned on the investments and interest expense incurred on the secured debt or asset-specific debt are reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.9pt">separately on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:LoanParticipationsPolicyTextBlock" id="f-564" continuedAt="f-564-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 106.05pt">Loan Participations Sold<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-564-1" continuedAt="f-564-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In certain instances, we have executed a syndication of a non-recourse loan interest to a third party. Depending on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">particular structure of the syndication, the loan interest may remain on our GAAP balance sheet or, in other cases, the sale<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">will be recognized and the loan interest will no longer be included in our consolidated financial statements. When these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">sales are not recognized under GAAP we reflect the transaction by recording a loan participation sold liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">consolidated balance sheet, however this gross presentation does not impact stockholders&#8217; equity or net income. When the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 344pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">sales are recognized, our balance sheet only includes our remaining loan interest, and excludes the interest in the loan that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.5pt; width: 612pt"><ix:continuation id="f-564-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.31pt">we sold.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><ix:continuation id="f-563-2" continuedAt="f-563-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.46pt">Term Loans<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 110.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-563-3" continuedAt="f-563-4"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 402.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We record our term loans as liabilities on our consolidated balance sheets. Where applicable, any issue discount or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">transaction expenses are deferred and amortized through the maturity date of the term loans as additional non-cash interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.02pt">Senior Secured Notes<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">We record our senior secured notes as liabilities on our consolidated balance sheets. Where applicable, any issue discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 484pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">or transaction expenses are deferred and amortized through the maturity date of the senior secured notes as additional non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.82pt">cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 525pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.87pt">Convertible Notes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Convertible note proceeds, unless issued with a substantial premium or an embedded conversion feature, are classified as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">debt. Additionally, shares issuable under our convertible notes are included in diluted earnings per share in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">consolidated financial statements, if the effect is dilutive, using the if-converted method, regardless of settlement intent.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Where applicable, any issue discount or transaction expenses are deferred and amortized through the maturity date of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.43pt">convertible notes as additional non-cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.34pt">Deferred Financing Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 167.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The deferred financing costs that are included as a reduction in the net book value of the related liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 647pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">consolidated balance sheets include issuance and other costs related to our debt obligations. These costs are amortized as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.5pt; width: 612pt"><ix:continuation id="f-563-4"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.06pt">interest expense using the effective interest method over the life of the related obligations.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:StockholdersEquityPolicyTextBlock" id="f-565" continuedAt="f-565-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201pt">Underwriting Commissions and Offering Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 259.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-565-1" continuedAt="f-565-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 705.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Underwriting commissions and offering costs incurred in connection with common stock offerings are reflected as a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 717pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">reduction of additional paid-in capital. Costs incurred that are not directly associated with the completion of a common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 728.5pt; width: 612pt"><ix:continuation id="f-565-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.59pt">stock offering are expensed when incurred.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-8" continuedAt="f-539-9"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:FairValueOfFinancialInstrumentsPolicy" id="f-566" continuedAt="f-566-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.99pt">Fair Value Measurements<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-566-1" continuedAt="f-566-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.91pt">The &#8220;Fair Value Measurements and Disclosures&#8221; Topic o<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.94pt"><span style="background-color: inherit">f the FASB, or ASC 820, defines fair value, establishes a</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">framework for measuring fair value, and requires certain disclosures about fair value measurements under GAAP.</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt"><span style="background-color: inherit">Specifically, this guidance defines fair value based on exit price, or the price that would be received upon the sale of an</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 446.02pt"><span style="background-color: inherit">asset or the transfer of a liability in an orderly transaction between market participants at the measurement date.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">ASC 820 also establishes a fair value hierarchy that prioritizes and ranks the level of market price observability used in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">measuring financial instruments. Market price observability is affected by a number of factors, including the type of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financial instrument, the characteristics specific to the financial instrument, and the state of the marketplace, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">existence and transparency of transactions between market participants. Financial instruments with readily available quoted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.7pt">used in measuring fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 174.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.83pt">used in the determination, as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Level 1: Generally includes only unadjusted quoted prices that are available in active markets for identical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.16pt">financial instruments as of the reporting date.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Level 2: Pricing inputs include quoted prices in active markets for similar instruments, quoted prices in less active<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">or inactive markets for identical or similar instruments where multiple price quotes can be obtained, and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 333.76pt">observable inputs, such as interest rates, yield curves, credit risks, and default rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">Level 3: Pricing inputs are unobservable for the financial instruments and include situations where there is little, if<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">any, market activity for the financial instrument. These inputs require significant judgment or estimation by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.93pt">management of third parties when determining fair value and generally represent anything that does not meet the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 102.64pt">criteria of Levels 1 and 2.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Certain of our other assets are reported at fair value, as of quarter-end, either (i) on a recurring basis or (ii) on a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">nonrecurring basis, as a result of impairment or other events. Our assets that are recorded at fair value are discussed further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 390pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.34pt">in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.99pt">Note 19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.67pt">. We generally value our assets recorded at fair value by either (i) discounting expected cash flows based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">assumptions regarding the collection of principal and interest and estimated market rates, or (ii) obtaining assessments from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">third parties. For collateral-dependent loans that are identified as impaired, we measure impairment by comparing our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">estimation of the fair value of the underlying collateral, less costs to sell, to the book value of the respective loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">valuations require significant judgments, which include assumptions regarding capitalization rates, discount rates, leasing,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.35pt">of other lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.26pt">We have elected the FVO for one of our investments in an unconsolidated entity, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.12pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 494pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">and therefore report this investment at fair value. Given the fair value of this investment is not readily determinable, the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 222.73pt">asset value of the entity is used as a practical expedient.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$<ix:nonFraction unitRef="usd" contextRef="c-128" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-567">505.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="loan" contextRef="c-129" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-568">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.2pt">receivable with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.06pt">$<ix:nonFraction unitRef="usd" contextRef="c-128" decimals="-8" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="9" id="f-569">1.2</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.68pt">, net of cost-recovery proceeds. The CECL reserve was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 552pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.01pt">recorded based on our estimation of the fair value of the loans' aggregate underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">These loans receivable are therefore measured at fair value on a nonrecurring basis using significant unobservable inputs,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">and are classified as Level 3 assets in the fair value hierarchy. We estimated the fair value of the collateral underlying the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">loans receivable by considering a variety of inputs including property performance, market data, and comparable sales, as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">applicable. The significant unobservable inputs employed include the exit capitalization rate assumption used to forecast<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 317.52pt">the future sale price of the underlying real estate collateral, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-130" decimals="4" name="us-gaap:LoansHeldForSaleMeasurementInput" scale="-2" id="f-570">6.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.97pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-131" decimals="4" name="us-gaap:LoansHeldForSaleMeasurementInput" scale="-2" id="f-571">8.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.78pt">, and the unlevered discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.52pt">rate assumption, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-132" decimals="4" name="us-gaap:LoansHeldForSaleMeasurementInput" scale="-2" id="f-572">7.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt"><ix:nonFraction unitRef="number" contextRef="c-133" decimals="4" name="us-gaap:LoansHeldForSaleMeasurementInput" scale="-2" id="f-573">15.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.08pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.78pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.35pt">, we acquired legal title or otherwise consolidated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-1" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssets" format="ixt-sec:numwordsen" scale="0" id="f-574">three</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.84pt"> REO assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.89pt">through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.47pt">deed-in-lieu of foreclosure transactions or loan modifications that resulted in us consolidating the collateral assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">At the time of each acquisition, we determined the fair value of each real estate asset based on a variety of inputs including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">but not limited to, estimated cash flow projections, leasing assumptions, required capital expenditures, market data, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">comparable sales. The REO assets were measured at fair value on a nonrecurring basis using significant unobservable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">inputs and are classified as Level 3 assets in the fair value hierarchy. The significant unobservable inputs employed include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.07pt">(i) the exit capitalization rate assumption used to forecast the future sale price of the assets, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.5699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-134" decimals="4" name="bxmt:PropertyPlantAndEquipmentMeasurementInput" scale="-2" id="f-575">6.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.96pt"> to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-9" continuedAt="f-539-10"><div><ix:continuation id="f-566-2" continuedAt="f-566-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-135" decimals="4" name="bxmt:PropertyPlantAndEquipmentMeasurementInput" scale="-2" id="f-576">8.55</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.96pt">, and (ii) the unlevered discount rate assumptions, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-136" decimals="4" name="bxmt:PropertyPlantAndEquipmentMeasurementInput" scale="-2" id="f-577">7.75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.31pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt"><ix:nonFraction unitRef="number" contextRef="c-137" decimals="4" name="bxmt:PropertyPlantAndEquipmentMeasurementInput" scale="-2" id="f-578">10.55</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.76pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 478.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.08pt">Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.97pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"> for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.36pt">further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">We are also required by GAAP to disclose fair value information about financial instruments, which are not otherwise<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reported at fair value in our consolidated balance sheet, to the extent it is practicable to estimate a fair value for those<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459.68pt">instruments. These disclosure requirements exclude certain financial instruments and all non-financial instruments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.1800000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The following methods and assumptions are used to estimate the fair value of each class of financial instruments, for which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.39pt">it is practicable to estimate that value:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.77pt">Cash and cash equivalents: The carrying amount of cash and cash equivalents approximates fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Loans receivable, net: The fair values of these loans were estimated using a discounted cash flow methodology,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">taking into consideration various factors including capitalization rates, discount rates, leasing, credit worthiness of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.89pt">major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions of other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.49pt">lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Derivative financial instruments: The fair value of our foreign currency and interest rate contracts was estimated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">using advice from a third-party derivative specialist, based on contractual cash flows and observable inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.25pt">comprising foreign currency rates and credit spreads.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Secured debt, net: The fair value of these instruments was estimated based on the rate at which a similar credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">facility would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">Securitized debt obligations, net: The fair value of these instruments was estimated by utilizing third-party pricing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">service providers. In determining the value of a particular investment, pricing service providers may use broker-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">dealer quotations, reported trades, or valuation estimates from their internal pricing models to determine the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.25pt">reported price.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.95pt">Asset-specific debt, net: The fair value of these instruments was estimated based on the rate at which a similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.53pt">agreement would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.84pt">Loan participations sold, net: The fair value of these instruments was estimated based on the value of the related<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.13pt">loan receivable asset.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Term loans, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 448pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">Senior secured notes, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.85pt">Convertible notes, net: Each series of the convertible notes is actively traded and their fair values were obtained<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529pt; width: 612pt"><ix:continuation id="f-566-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.44pt">using quoted market prices.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:IncomeTaxPolicyTextBlock" id="f-579" continuedAt="f-579-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.12pt">Income Taxes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 117.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-579-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Our financial results generally do not reflect provisions for current or deferred income taxes on our REIT taxable income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">We believe that we operate in a manner that will continue to allow us to be taxed as a REIT and, as a result, we generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">do not expect to pay substantial corporate level taxes other than those payable by our taxable REIT subsidiaries. If we were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">to fail to meet these requirements, we may be subject to federal, state, and local income tax on current and past income, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.44pt">penalties. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 17<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy" id="f-580" continuedAt="f-580-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.9pt">Stock-Based Compensation<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 175.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-580-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Our stock-based compensation consists of awards issued to our Manager, certain individuals employed by an affiliate of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">our Manager, and certain members of our board of directors that vest over the life of the awards, as well as deferred stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">units issued to certain members of our board of directors. Stock-based compensation expense is recognized for these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">awards in net income on a variable basis over the applicable vesting period of the awards, based on the value of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.51pt">common stock. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">19<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-539-10" continuedAt="f-539-11"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:EarningsPerSharePolicyTextBlock" id="f-581" continuedAt="f-581-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.27pt">Earnings per Share<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 141.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-581-1" continuedAt="f-581-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Basic earnings per share, or Basic EPS, is computed in accordance with the two-class method and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">earnings allocable to our class A common stock, including restricted class A common stock and deferred stock units,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">divided by (ii) the weighted-average number of shares of our class A common stock, including restricted class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">stock and deferred stock units outstanding during the period. Our restricted class A common stock is considered a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">participating security, as defined by GAAP, and has been included in our Basic EPS under the two-class method as these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">restricted shares have the same rights as our other shares of class A common stock, including participating in any gains or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.37pt">losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">Diluted earnings per share, or Diluted EPS, is determined using the if-converted method, and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">earnings, adjusted for interest expense incurred on our convertible notes during the relevant period, net of incentive fees,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">allocable to our class A common stock, including restricted class A common stock and deferred stock units, divided by (ii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">the weighted-average number of shares of our class A common stock, including restricted class A common stock, deferred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.98pt">stock units, and shares of class A common stock issuable under our convertible notes. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.97pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.95pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 221.5pt; width: 612pt"><ix:continuation id="f-581-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.16pt">discussion of earnings per share.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" id="f-582" continuedAt="f-582-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.85pt">Foreign Currency<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-582-1" continuedAt="f-582-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In the normal course of business, we enter into transactions not denominated in United States, or U.S., dollars. Foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">exchange gains and losses arising on such transactions are recorded as a gain or loss in our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">operations. In addition, we consolidate entities that have a non-U.S. dollar functional currency. Non-U.S. dollar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">income, expenses, gains, and losses are translated at the average exchange rate over the applicable period. Cumulative<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">translation adjustments arising from the translation of non-U.S. dollar denominated subsidiaries are recorded in other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><ix:continuation id="f-582-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 119.59pt">comprehensive income (loss).<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock" id="f-583" continuedAt="f-583-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.87pt">Recent Accounting Pronouncements<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 213.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-583-1" continuedAt="f-583-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">In July 2025, the FASB issued Accounting Standards Update, or ASU, 2025-05, which amends the guidance in ASC 326,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Financial Instruments&#8212;Credit Losses. This update provides a practical expedient related to the estimation of expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">ASC 606. The amendment notes that in developing reasonable and supportable forecasts as part of estimating expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">2025, including interim periods within those annual periods, and early adoption is permitted. We have not early adopted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">ASU 2025-05 and do not expect the adoption of ASU 2025-05 to have a material impact on our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 275.87pt">statements. We recognize revenue under ASC 606 pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.42pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.67pt"> and income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.71pt">from our hospitality REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">In May 2025, the FASB issued ASU 2025-03, which amends the guidance in ASC 805, Business Combinations. This<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">update clarifies the determination of the accounting acquirer in business combinations that are primarily effected through<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">the exchange of equity interests and involve the acquisition of a VIE. Specifically, entities are now required to consider the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">factors outlined in ASC 805-10-55-12 through 55-15 when determining the accounting acquirer, rather than defaulting to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">the primary beneficiary of the VIE as the accounting acquirer. ASU 2025-03 is effective for annual periods beginning after<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">December 15, 2026, including interim periods within those annual periods, and early adoption is permitted. We have not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 580.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">early adopted ASU 2025-03 and do not expect the adoption of ASU 2025-03 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">In November 2024, the FASB issued ASU 2024-04 &#8220;Debt with Conversion and Other Options (Subtopic 470-20): Induced<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Conversions of Convertible Debt Instruments,&#8221; or ASU 2024-04. ASU 2024-04 clarifies the accounting treatment for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">settlement of a convertible debt instrument as an induced conversion. ASU 2024-04 is effective on a prospective basis,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">with the option for retrospective application, for fiscal years beginning after December 15, 2025. We have not early<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">adopted ASU 2024-04 and do not expect the adoption of ASU 2024-04 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">In November 2024, the FASB issued ASU 2024-03 &#8220;Expense Disaggregation Disclosures (Subtopic 220-40):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Disaggregation of Income Statement Expenses,&#8221; or ASU 2024-03. ASU 2024-03 requires disclosures in the notes to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 719.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">financial statements on specified information about certain costs and expenses for each interim and annual reporting period.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">20<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-583-2" continuedAt="f-583-3"><ix:continuation id="f-539-11" continuedAt="f-539-12"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">ASU 2024-03 is effective on either a prospective basis, with the option for retrospective application, for annual periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">early adoption is permitted. We have not early adopted ASU 2024-03 and do not expect the adoption of ASU 2024-03 to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 256.56pt">have a material impact on our consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">In December 2023, the FASB issued ASU 2023-09 &#8220;Income Taxes (Topic 740): Improvements to Income Tax<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Disclosures,&#8221; or ASU 2023-09. ASU 2023-09 requires additional disaggregated disclosures on an entity&#8217;s effective tax rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reconciliation and additional details on income taxes paid. ASU 2023-09 is effective on a prospective basis, with the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for retrospective application, for annual periods beginning after December 15, 2024 and early adoption is permitted. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not early adopted ASU 2023-09 and do not expect the adoption of ASU 2023-09 to have a material impact on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><ix:continuation id="f-583-3"><ix:continuation id="f-539-12"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.07pt">consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 199pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_43"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">3. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:FinancingReceivablesTextBlock" id="f-584" continuedAt="f-584-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">LOANS RECEIVABLE, NET <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-584-1" continuedAt="f-584-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" id="f-585" continuedAt="f-585-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 378.71pt">The following table details overall statistics for our loans receivable portfolio ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-585-1"><div style="position: var(--position); top: 234pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 333.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Number of loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)"><ix:nonFraction unitRef="security_loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-586">137</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)"><ix:nonFraction unitRef="security_loan" contextRef="c-138" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-587">130</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Principal balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-588">18,188,534</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-589">19,203,126</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-590">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-591">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 119.17999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-139" decimals="-3" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="3" id="f-592">1,532,429</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-140" decimals="-3" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="3" id="f-593">1,263,068</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average cash coupon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 128.02pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-3" decimals="4" name="us-gaap:LoansReceivableBasisSpreadOnVariableRate" scale="-2" id="f-594">3.24</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-4" decimals="4" name="us-gaap:LoansReceivableBasisSpreadOnVariableRate" scale="-2" id="f-595">3.46</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average all-in yield<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 121.88pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-1" decimals="4" name="bxmt:FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" scale="-2" id="f-596">3.46</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-138" decimals="4" name="bxmt:FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" scale="-2" id="f-597">3.78</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average maximum maturity (years)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-1" name="bxmt:MortgageLoanOnRealEstateFinalMaturityTerm" format="ixt-sec:duryear" id="f-598">2.4</ix:nonNumeric><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-138" name="bxmt:MortgageLoanOnRealEstateFinalMaturityTerm" format="ixt-sec:duryear" id="f-599">2.1</ix:nonNumeric><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 356.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Unfunded commitments will primarily be funded to finance our borrowers&#8217; construction or development of real<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">estate-related assets, capital improvements of existing assets, or lease-related expenditures. These commitments will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 370.05pt">generally be funded over the term of each loan, subject in certain cases to an expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.04pt">rates, which include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt"><span style="-sec-ix-hidden:f-600"><span style="-sec-ix-hidden:f-601">SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.16pt">, SONIA, EURIBOR, CORRA, and other indices, as applicable to each loan. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.73pt">As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.79pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="2" name="bxmt:LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" scale="-2" id="f-602">98</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 361.96pt"> of our loans by principal balance earned a floating rate of interest, primarily indexed to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt">SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.03pt">. The remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="2" name="bxmt:LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" scale="-2" id="f-603">2</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.44pt"> of our loans by principal balance earned a fixed rate of interest. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.16pt">substantially all of our loans by principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.28pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.5pt">earned a floating rate of interest, primarily indexed to SOFR. In<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.48pt">origination costs, and purchase discounts, as well as the accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.67pt">Excludes loans accounted for under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.01pt">cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 504.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.41pt">prior to such date. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.67pt">Excludes loans accounted for under the cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.82pt">. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.51pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="2" name="bxmt:FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" scale="-2" id="f-604">31</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.8pt"> of our loans by principal balance were subject to yield maintenance or other prepayment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 527.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.33pt">restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="2" name="bxmt:FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" scale="-2" id="f-605">69</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.26pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.34pt">were open to repayment by the borrower without penalty. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.06pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.8199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.76pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-4" decimals="2" name="bxmt:FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" scale="-2" id="f-606">10</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.9100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.59pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 426.49pt">our loans by principal balance were subject to yield maintenance or other prepayment restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-4" decimals="2" name="bxmt:FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" scale="-2" id="f-607">90</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.1pt"> were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.13pt">open to repayment by the borrower without penalty.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-2" continuedAt="f-584-3"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" id="f-608" continuedAt="f-608-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 384.15pt">The following table details the index rate floors for our loans receivable portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.5899999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.82pt"> ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-608-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 261.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 261.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 0pt; width: 229.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 229.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.58pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Index Rate Floors<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 13.54pt; position: var(--position); white-space: pre">Non-USD<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 54.65pt; position: var(--position); top: -2.3694999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.4005pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-141" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-609">180,857</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-142" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-610">137,149</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-143" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-611">318,006</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">0.00% or no floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 73.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-144" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-612">1,796,816</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-145" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-613">4,966,038</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-146" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-614">6,762,854</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">0.01% to 1.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-147" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-615">2,628,392</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-148" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-616">972,584</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-149" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-617">3,600,976</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">1.01% to 2.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-150" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-618">676,479</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-151" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-619">1,371,685</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-152" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-620">2,048,164</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2.01% to 3.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-153" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-621">3,791,304</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-154" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-622">139,838</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-155" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-623">3,931,142</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">3.01% or more floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-156" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-624">1,313,773</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-157" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-625">213,619</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-158" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-626">1,527,392</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 23.7pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-159" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-627">10,387,621</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.54pt"></span></span><span style="left: 30.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-160" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-628">7,800,913</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-629">18,188,534</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 226pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 235.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 424.85pt">Includes Euro, British Pound Sterling, Swedish Krona, Australian Dollar, and Canadian Dollar currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 247pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.41pt">Includes all impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.76pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 356.68pt">, the weighted-average index rate floor of our floating-rate loans receivable principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 270pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.47pt">balance was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-161" decimals="4" name="bxmt:FinancingReceivableWeightedAverageIndexRateFloor" scale="-2" id="f-630">1.25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.68pt">. Excluding 0.0% index rate floors and loans with no floor, the weighted-average index rate floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 281.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.04pt">was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-161" decimals="4" name="bxmt:FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" scale="-2" id="f-631">1.90</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 305pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:ActivityInLoansReceivableTableTextBlock" id="f-632" continuedAt="f-632-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 327.43pt">Activity relating to our loans receivable portfolio was as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-632-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 278.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 278.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.11pt; position: var(--position); white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.33pt; position: var(--position); white-space: pre">Balance<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 48.42pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.91pt; position: var(--position); white-space: pre">Deferred Fees /<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.09pt; position: var(--position); white-space: pre">Other Items<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 52.599999999999994pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.88pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 44.86pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-633">19,203,126</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" sign="-" name="us-gaap:FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" format="ixt:num-dot-decimal" scale="3" id="f-634">155,608</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-635">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan fundings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsToAcquireLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-636">3,931,823</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaymentsToAcquireLoansReceivable" format="ixt:num-dot-decimal" scale="3" id="f-637">3,931,823</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan repayments, sales, and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" format="ixt:num-dot-decimal" scale="3" id="f-638">5,048,125</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" format="ixt:num-dot-decimal" scale="3" id="f-639">39,424</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" format="ixt:num-dot-decimal" scale="3" id="f-640">5,087,549</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-641">208,010</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-642">79,018</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-643">128,992</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Transfer to real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:TransferToOtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-644">358,088</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:TransferToOtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-645">358,088</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Transfer to other assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 130.14pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-646">49,158</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-647">49,158</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Payment-in-kind interest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaidInKindInterest" format="ixt:num-dot-decimal" scale="3" id="f-648">13,448</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:PaidInKindInterest" format="ixt:num-dot-decimal" scale="3" id="f-649">13,448</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized gain (loss) on foreign currency translation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableGainLossOnForeignCurrencyTranslation" format="ixt:num-dot-decimal" scale="3" id="f-650">703,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" format="ixt:num-dot-decimal" scale="3" id="f-651">2,275</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" format="ixt:num-dot-decimal" scale="3" id="f-652">701,243</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Deferred fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-653">48,716</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-654">48,716</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Amortization of fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:AmortizationOfDeferredLoanOriginationFeesNet" format="ixt:num-dot-decimal" scale="3" id="f-655">45,390</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:AmortizationOfDeferredLoanOriginationFeesNet" format="ixt:num-dot-decimal" scale="3" id="f-656">45,390</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-657">18,188,534</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" sign="-" name="us-gaap:FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" format="ixt:num-dot-decimal" scale="3" id="f-658">121,615</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-659">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 186.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 186.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-660">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 201.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, net, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.75pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 201.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-661">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 550.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 133.33pt">Other items primarily consist of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.64pt">purchase and sale discounts or premiums, exit fees, deferred origination expenses,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.31pt">and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">This amount relates to intangible and other assets recorded in connection with loans that were transferred to REO,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.39pt">net of liabilities recorded upon acquisition, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 8.84pt">if <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.66pt">any, and proceeds from loan repayments that are held in escrow, all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.78pt">which are included within other assets in our consolidated balance sheets. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-3" continuedAt="f-584-4"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:TypesOfLoansInPortfolioTableTextBlock" id="f-662" continuedAt="f-662-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 482.25pt">The tables below detail the property type and geographic distribution of the properties securing the loans in our portfolio<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-662-1" continuedAt="f-662-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"/></tr><tr style="height: 13.5pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.87pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 13.5pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 13.5pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 13.5pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 35.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 35.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-162" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-663">42</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-163" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-664">5,489,331</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-163" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-665">4,845,825</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 35.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-164" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-666">29</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 49.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-165" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-667">47</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-166" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-668">4,432,183</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-166" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-669">4,289,958</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-167" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-670">25</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 63.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-168" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-671">18</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-169" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-672">3,561,323</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-169" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-673">3,524,478</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 63.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-170" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-674">21</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 78pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-171" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-675">14</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-172" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-676">2,096,519</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-172" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-677">1,994,080</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 78pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-173" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-678">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 92.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-174" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-679">8</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-175" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-680">769,377</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-175" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-681">676,140</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 92.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-176" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-682">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 106.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-storage<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 106.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-177" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-683">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-178" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-684">653,016</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-178" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-685">488,715</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 106.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-179" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-686">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences / Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-180" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-687">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-181" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-688">341,730</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-181" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-689">290,881</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 121.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-182" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-690">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 135.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 135.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-183" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-691">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-184" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-692">723,440</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-184" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-693">683,661</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 135.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-185" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-694">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 150pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-695">137</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-696">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-697">16,793,738</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 150pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-186" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-698">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 164.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 164.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-699">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 178.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 178.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-700">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 11.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 204pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 204pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 69.61pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 204pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 225.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 225.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 225.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 225.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 240pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 240pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-187" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-701">45</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-188" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-702">4,203,737</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-188" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-703">3,727,255</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 240pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-189" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-704">22</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 254.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 254.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-190" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-705">23</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-191" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-706">2,768,431</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-191" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-707">2,431,400</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 254.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-192" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-708">14</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 268.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 268.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-193" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-709">23</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-194" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-710">1,957,019</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-194" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-711">1,873,533</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 268.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-195" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-712">11</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 282.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 282.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-196" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-713">8</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-197" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-714">855,704</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-197" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-715">713,354</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 282.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-198" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-716">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 297pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 297pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-199" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-717">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-200" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-718">448,599</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-200" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-719">446,752</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 297pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-201" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-720">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 311.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 311.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-202" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-721">102</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-203" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-722">10,233,490</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-203" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-723">9,192,294</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 311.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-204" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-724">54</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 339.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-205" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-725">17</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-206" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-726">3,128,895</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-206" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-727">3,114,230</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 339.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-207" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-728">19</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 354pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-208" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-729">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-209" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-730">1,197,444</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-209" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-731">1,190,045</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 354pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-210" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-732">7</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 368.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 368.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-211" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-733">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-212" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-734">1,107,136</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-212" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-735">1,114,282</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 368.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-213" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-736">7</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 382.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 382.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-214" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-737">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-215" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-738">643,117</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-215" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-739">595,013</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 382.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-216" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-740">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 396.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-217" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-741">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-218" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-742">505,298</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-218" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-743">504,853</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-219" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-744">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Canada<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 411pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-220" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-745">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-221" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-746">448,994</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-221" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-747">284,952</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-222" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-748">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 425.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 425.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-223" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-749">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-224" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-750">741,582</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-224" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-751">737,162</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 425.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-225" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-752">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 439.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 439.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-226" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-753"><ix:nonFraction unitRef="loan" contextRef="c-227" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-754">1</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-228" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-755">60,963</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-228" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-756">60,907</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 439.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-229" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" format="ixt:fixed-zero" scale="-2" id="f-757">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 454.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 454.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-230" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-758">35</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-231" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-759">7,833,429</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-231" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-760">7,601,444</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 454.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-232" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-761">46</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 468.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 468.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-762">137</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-763">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-764">16,793,738</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 468.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-186" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-765">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 483pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 483pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-766">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 497.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 497.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-767">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 61pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$<ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-5" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-768">629.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" format="ixt:num-dot-decimal" scale="6" id="f-769">69.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 297.83pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.95pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-770">695.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 104pt">Our asset-specific debt is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 636.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.42pt">structurally non-recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">23<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-662-2"><ix:continuation id="f-584-4" continuedAt="f-584-5"><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 66.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"/></tr><tr style="height: 12.75pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 12.75pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-233" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-771">41</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-234" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-772">7,386,333</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-234" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-773">5,729,418</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 34.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-235" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-774">33</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 49.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-236" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-775">50</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-237" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-776">5,091,767</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-237" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-777">4,934,364</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-238" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-778">29</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 64.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-239" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-779">16</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-240" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-780">2,768,374</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-240" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-781">2,663,349</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 64.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-241" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-782">16</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 79.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-242" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-783">11</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-243" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-784">2,030,627</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-243" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-785">2,000,831</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 79.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-244" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-786">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 94.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-245" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-787">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-246" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-788">555,553</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-246" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-789">532,069</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 94.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-247" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-790">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences/Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 109.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-248" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-791">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-249" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-792">342,817</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-249" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-793">337,687</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 109.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-250" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-794">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 124.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-251" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-795">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-252" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-796">872,047</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-252" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-797">836,585</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 124.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-253" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-798">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 139.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-138" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-799">130</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-800">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-801">17,034,303</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 139.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-254" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-802">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 154.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-803">733,936</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 169.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-804">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 9.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 194.25pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 194.25pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 194.25pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 216pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 216pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 216pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 216pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 231pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 231pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-255" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-805">44</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-256" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-806">4,520,632</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-256" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-807">4,084,242</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 231pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-257" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-808">24</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 246pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 246pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-258" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-809">21</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-259" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-810">4,614,582</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-259" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-811">3,452,961</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 246pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-260" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-812">20</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 261pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-261" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-813">21</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-262" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-814">1,865,382</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-262" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-815">1,746,309</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 261pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-263" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-816">10</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 276pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 276pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-264" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-817">10</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-265" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-818">997,156</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-265" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-819">820,858</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 276pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-266" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-820">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 291pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 291pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-267" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-821">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-268" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-822">432,644</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-268" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-823">432,794</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 291pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-269" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-824">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 306pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 306pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-270" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-825">100</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-271" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-826">12,430,396</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-271" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-827">10,537,164</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 306pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-272" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-828">62</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 321pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 336pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 336pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-273" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-829">16</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-274" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-830">2,916,145</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-274" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-831">2,839,096</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 336pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-275" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-832">17</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 351pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-276" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-833">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-277" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-834">1,050,276</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-277" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-835">1,048,329</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 351pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-278" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-836">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 366pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-279" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-837">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-280" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-838">920,182</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-280" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-839">923,507</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 366pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-281" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-840">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 381pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 381pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-282" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-841">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-283" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-842">785,368</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-283" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-843">744,287</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 381pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-284" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-844">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 396pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-285" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-845">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-286" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-846">429,084</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-286" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-847">429,724</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-287" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-848">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 411pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-288" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-849">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-289" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-850">455,417</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-289" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-851">451,245</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-290" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-852">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 426pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 426pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-226" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-853"><ix:nonFraction unitRef="loan" contextRef="c-227" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-854">1</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-291" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-855">60,650</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-291" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-856">60,951</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 426pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-292" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" format="ixt:fixed-zero" scale="0" id="f-857">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 441pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-293" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-858">30</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-294" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-859">6,617,122</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-294" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-860">6,497,139</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 441pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-295" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-861">38</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 456pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-138" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-862">130</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-863">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-864">17,034,303</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 456pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-254" decimals="2" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" id="f-865">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 471pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 471pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-866">733,936</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 486pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 486pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-867">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 560pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.22pt">N<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.63pt">et loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">December&#160;31,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 583pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.07pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.27pt">$<ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-8" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="9" id="f-868">1.2</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.47pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.04pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" scale="6" id="f-869">106.7</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.08pt"> of cost-recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 594.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">p<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.59pt">roceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" scale="6" id="f-870">733.9</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.94pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$<ix:nonFraction unitRef="usd" contextRef="c-296" decimals="-5" name="bxmt:LoanParticipationLiabilitiesPrincipalAmount" scale="6" id="f-871">100.1</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">of junior loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 606pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.51pt">interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.62pt">. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.27pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.55pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">discussion of loan participations sold. Our asset-specific debt and loan participations sold are structurally non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.1pt">recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">24<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-5" continuedAt="f-584-6"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; text-decoration: none; white-space: pre"><span style="left: 58.5pt; position: var(--position); width: 81.93pt">Loan Risk Ratings <span style="display: inline-block; height: 6.77pt; width: 26.07pt"></span></span><span style="left: 166.5pt; position: var(--position); width: 0pt"><span style="display: inline-block; height: 6.77pt; width: 36pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.43pt">As further described in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.44pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.01pt">, we evaluate our loan portfoli<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 305.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.57pt">o on a quarterly <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.45pt">basis. In conjunction with our quarterly loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 82.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">portfolio review, we assess the risk factors of each loan, and assign a risk rating based on several factors. Factors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">considered in the assessment include, but are not limited to, risk of loss, origination LTV, debt yield, collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 105.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">performance, structure, exit plan, and sponsorship. Loans are rated &#8220;1&#8221; (less risk) through &#8220;5&#8221; (greater risk), which ratings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.42pt">are defined in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.7pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:FinancingReceivableCreditQualityIndicatorsTableTextBlock" id="f-872" continuedAt="f-872-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table allocates the net book value and net loan exposure balances based on our internal risk ratings ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-872-1" continuedAt="f-872-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 163.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 140.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 25.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-297" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-873">6</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-298" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-874">409,199</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-298" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-875">408,355</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-299" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-876">22</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-300" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-877">3,173,245</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-300" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-878">3,007,691</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-301" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-879">80</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-302" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-880">10,578,120</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-302" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-881">10,087,715</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 68.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-303" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-882">17</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-304" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-883">2,732,203</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-304" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-884">2,619,771</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 82.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-305" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-885">12</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-306" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-886">1,174,152</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 97.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-306" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-887">670,206</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 96.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-888">137</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-889">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-890">16,793,738</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 111pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-891">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 125.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 125.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-892">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 6pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 145.5pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 141.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 158.25pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 158.25pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 171pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-307" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-893">11</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 82.88pt"></span></span><span style="left: 90.00999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-308" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-894">1,919,280</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-308" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-895">994,056</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 185.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-309" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-896">21</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-310" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-897">3,346,881</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-310" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-898">3,349,347</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 199.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-311" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-899">65</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-312" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-900">9,246,692</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-312" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-901">8,818,346</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 213.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-313" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-902">20</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-314" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-903">2,707,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-314" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-904">2,622,877</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 228pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-315" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-905">13</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-316" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-906">1,827,561</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-316" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-907">1,249,677</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 242.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-138" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-908">130</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-909">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" format="ixt:num-dot-decimal" scale="3" id="f-910">17,034,303</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 256.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-911">733,936</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 270.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-912">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 453.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$<ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-5" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-913">629.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" format="ixt:num-dot-decimal" scale="6" id="f-914">69.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 290.68pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.3pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-915">695.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.88pt">. Our net loan exposure as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.52pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.86pt"> is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$<ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-8" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="9" id="f-916">1.2</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.97pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.34pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" format="ixt:num-dot-decimal" scale="6" id="f-917">106.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.73pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 272pt">recovery proceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-918">733.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.82pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$<ix:nonFraction unitRef="usd" contextRef="c-296" decimals="-5" name="bxmt:LoanParticipationLiabilitiesPrincipalAmount" scale="6" id="f-919">100.1</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.82pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.02pt">of junior<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.76pt">loan interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.14pt">. Our asset-specific<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">debt and loan participations sold are structurally non-recourse and term-matched to the corresponding collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 544.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 567.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.7pt">Our loan portfolio had a weighted-average risk rating of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt"><ix:nonFraction unitRef="number" contextRef="c-4" decimals="1" name="bxmt:FinancingReceivableWeightedAverageRiskRating" scale="0" id="f-920"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="1" name="bxmt:FinancingReceivableWeightedAverageRiskRating" scale="0" id="f-921">3.0</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.92pt">as of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 441.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">25<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-6" continuedAt="f-584-7"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Current Expected Credit Loss Reserve <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">The CECL reserves required under GAAP reflect our current estimate of potential credit losses related to the loans included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 188.06pt">in our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.58pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.18pt"> for further discussion of our CECL reserves. <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" id="f-922" continuedAt="f-922-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.11pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-922-1" continuedAt="f-922-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 415.26pt">presents the activity in our loans receivable CECL reserve by investment pool for the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.61pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 216.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 216.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.05pt; position: var(--position); white-space: pre">U.S. Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.08pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.19pt; position: var(--position); text-decoration: none; white-space: pre">Unique<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.64pt; position: var(--position); text-decoration: none; white-space: pre">Impaired<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.52pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable, Net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-317" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-923">80,057</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-318" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-924">26,141</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-925">47,087</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-926">580,651</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-927">733,936</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-321" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-928">17,604</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-322" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-929">13,796</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-323" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-930">1,477</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-324" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-931">16,552</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-932">49,429</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-321" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-933">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-322" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-934">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-323" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-935">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-324" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-936">41,824</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-26" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-937">41,824</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-325" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-938">97,661</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-326" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-939">39,937</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-327" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-940">48,564</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-328" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-941">555,379</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-37" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-942">741,541</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-329" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-943">6,759</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-330" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-944">1,568</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-331" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-945">4,249</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-332" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-946">48,445</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-947">44,367</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-329" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-948">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-330" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-949">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-331" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-950">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-332" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-951">45,057</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-40" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-952">45,057</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-333" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-953">90,902</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-334" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-954">38,369</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-335" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-955">52,813</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-336" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-956">558,767</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-50" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-957">740,851</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase (decrease) in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-337" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-958">5,134</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-338" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-959">3,302</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-339" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" scale="3" id="f-960">207</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-340" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-961">11,250</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-962">3,021</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-337" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-963">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-338" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-964">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-339" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-965">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-340" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-966">42,111</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-967">42,111</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-341" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-968">96,036</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-342" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-969">41,671</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-970">52,606</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-971">505,406</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-972">695,719</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 202.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2023<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-345" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-973">78,335</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-346" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-974">31,560</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-347" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-975">49,371</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-348" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-976">417,670</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-69" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-977">576,936</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 217.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-349" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-978">3,807</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-350" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" scale="3" id="f-979">770</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-351" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-980">5,918</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-352" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-981">245,942</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-982">235,447</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 232.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-349" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-983">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-350" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-984">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-351" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-985">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-352" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-986">61,013</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-73" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-987">61,013</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 247.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-353" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-988">74,528</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-354" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-989">30,790</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-355" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-990">43,453</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-356" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-991">602,599</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-84" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-992">751,370</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 262.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-357" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-993">11,997</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-358" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-994">2,639</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-359" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" scale="3" id="f-995">423</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-360" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-996">169,318</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-997">155,105</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 277.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-357" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-998">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-358" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-999">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-359" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-1000">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-360" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1001">12,537</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-77" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1002">12,537</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 292.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-361" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1003">62,531</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-362" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1004">28,151</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-363" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1005">43,876</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-364" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1006">759,380</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-96" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1007">893,938</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 307.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.63pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-365" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-1008">9,584</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-366" decimals="-3" sign="-" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-1009">1,916</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 24.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-367" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-1010">4,424</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-368" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-1011">141,186</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-1012">134,110</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 322.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-365" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-1013">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-366" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-1014">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-367" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:fixed-zero" scale="3" id="f-1015">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-368" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1016">16,989</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1017">16,989</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-369" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1018">52,947</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-370" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1019">26,235</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-371" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1020">48,300</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-372" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1021">883,577</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.54pt"></span></span><span style="left: 9.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-109" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1022">1,011,059</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; position: var(--position); top: 475pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 112.5pt; position: var(--position)"><span style="display: inline-block; height: 8.32pt; width: 18pt"></span></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 5.32pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.04pt; width: 612pt"><ix:continuation id="f-922-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.35pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.56pt"> U.S. dollar-denominated loan that is located in Bermuda.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.66pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.39pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.58pt">, we recorded a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.9pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.92pt">$<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-5" sign="-" name="bxmt:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" format="ixt:num-dot-decimal" scale="6" id="f-1023">45.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.93pt">in the CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.38pt">against our loans receivable portfolio, primarily driven by a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.8pt">$<ix:nonFraction unitRef="usd" contextRef="c-373" decimals="-5" sign="-" name="bxmt:FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" format="ixt:num-dot-decimal" scale="6" id="f-1024">53.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.89pt"> in our asset-specific CECL reserves,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 537.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 195.28pt">including charge-offs of our CECL reserves of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 253.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.75pt">$<ix:nonFraction unitRef="usd" contextRef="c-340" decimals="-5" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="6" id="f-1025">42.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.9pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 314.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.48pt">This was offset by an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.75pt">$<ix:nonFraction unitRef="usd" contextRef="c-374" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" format="ixt:num-dot-decimal" scale="6" id="f-1026">8.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.69pt"> in our general<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.03pt">CECL reserves, bringing our total loans receivable CECL reserve to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.06pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-1027">695.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.78pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.74pt">.The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.97pt">in our general CECL reserves was primarily as a result of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.9pt">an increase in the historical loss rate used in reserve calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.73pt">as a result of additional CECL charge-offs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.23pt">The charge-offs primarily related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.77pt"> previously impaired loans secured by a hospitality asset in New York, NY and an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.88pt">office asset in Atlanta, GA, that were resolved and transferred to REO during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.05pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.9pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.02pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.59pt">pursuant to loan modifications that resulted in us consolidating the collateral assets. Refer to Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.89pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 630.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.67pt">information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$<ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-1028">505.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="loan" contextRef="c-375" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-1029">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.54pt">receivable, with a total amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.3pt">$<ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-8" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="9" id="f-1030">1.2</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.09pt">, net of cost-recovery proceeds, and a concentration in the office<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.53pt">sector with <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$<ix:nonFraction unitRef="usd" contextRef="c-376" decimals="-5" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="6" id="f-1031">382.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.44pt"> of reserves, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 335.62pt">generally driven by reduced tenant and capital markets demand in the office sector<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">in recent years. Impairments are each determined individually as a result of changes in the specific credit quality factors for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">such loans. These factors included, among others, (i) the underlying collateral performance, (ii) discussions with the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 711.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">borrower, (iii) borrower events of default, and (iv) other facts that impact the borrower&#8217;s ability to pay the contractual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 722.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.59pt">amounts due under the terms of the loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.33pt"> This CECL reserve was recorded based on our estimation of the fair value of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">26<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-7" continuedAt="f-584-8"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 134pt">loan&#8217;s underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.22pt">No<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 70.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 482.74pt"> income was recorded on our impaired loans subsequent to determining that they were impaired. During the three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.88pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.37pt">, we received an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.18pt">$<ix:nonFraction unitRef="usd" contextRef="c-377" decimals="-5" name="us-gaap:ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" format="ixt:num-dot-decimal" scale="6" id="f-1032">9.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.45pt"> of cash proceeds from such loans that were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.65pt">applied as a reduction to the amortized cost basis of each respective loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 124pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.06pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.09pt">, all borrowers under performing loans were in compliance with the applicable contractual terms<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.56pt">of each respective loan, including any required payment of interest.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.51pt"> Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.85pt"> for further discussion of our policies on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.13pt">revenue recognition and our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-584-8" continuedAt="f-584-9"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:continuation id="f-872-2" continuedAt="f-872-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Our primary credit quality indicator is our risk ratings, which are further discussed above. The following tables present the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-872-3" continuedAt="f-872-4"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.8pt">net book value of our loan portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.65pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 326.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.76pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.16pt">, respectively, by year of origination,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.5pt">investment pool, and risk rating ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 12.75pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 160.06pt; position: var(--position); text-decoration: none; white-space: pre">As of September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1033">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1034">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1035">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1036">151,577</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1037">203,721</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1038">53,901</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-378" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1039">409,199</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1040">33,314</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1041">60,963</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1042">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1043">197,274</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1044">724,262</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1045">262,235</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-379" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1046">1,278,048</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1047">1,147,203</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1048">273,014</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1049">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1050">1,630,283</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1051">1,883,767</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1052">691,837</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-380" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1053">5,626,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1054">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1055">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1056">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1057">367,098</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1058">338,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1059">1,115,549</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-381" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1060">1,820,751</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1061">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1062">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1063">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1064">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1065">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1066">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-382" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1067">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1068">1,180,517</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1069">333,977</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1070">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1071">2,346,232</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1072">3,149,854</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1073">2,123,522</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-383" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1074">9,134,102</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 152.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1075">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1076">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1077">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1078">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1079">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1080">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-384" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1081">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 166.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1082">645,481</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1083">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1084">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1085">592,528</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1086">657,188</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1087">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-385" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1088">1,895,197</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 180.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1089">1,752,443</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1090">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1091">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1092">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1093">936,536</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1094">1,102,590</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-386" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1095">3,791,569</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 195pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1096">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1097">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1098">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1099">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1100">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1101">363,689</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-387" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1102">363,689</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 209.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1103">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1104">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 40.13pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1105">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1106">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1107">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1108">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-388" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1109">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1110">2,397,924</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1111">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1112">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1113">592,528</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1114">1,593,724</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1115">1,466,279</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-389" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1116">6,050,455</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 237.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 252pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1117">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1118">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1119">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1120">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1121">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1122">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-390" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1123">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 266.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1124">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1125">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1126">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1127">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1128">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1129">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-391" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1130">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 280.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1131">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1132">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1133">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1134">869,443</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1135">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1136">291,004</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-392" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1137">1,160,447</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1138">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1139">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1140">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1141">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1142">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1143">547,763</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-393" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1144">547,763</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1145">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1146">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1147">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1148">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1149">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1150">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-394" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1151">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 323.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1152">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1153">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1154">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1155">869,443</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1156">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1157">838,767</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-343" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1158">1,708,210</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1159">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1160">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1161">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1162">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1163">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1164">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-395" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1165">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-396" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1166">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-396" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1167">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-396" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1168">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); 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font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1188">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1189">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1190">168,985</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1191">433,385</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1192">571,782</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-399" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1193">1,174,152</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 423pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1194">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1195">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1196">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1197">168,985</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1198">433,385</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1199">571,782</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-344" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1200">1,174,152</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 437.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 451.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1201">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1202">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1203">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1204">151,577</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1205">203,721</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1206">53,901</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-400" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1207">409,199</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 465.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1208">678,795</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1209">60,963</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1210">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1211">789,802</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1212">1,381,450</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1213">262,235</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-401" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1214">3,173,245</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 480pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1215">2,899,646</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1216">273,014</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1217">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1218">2,499,726</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1219">2,820,303</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1220">2,085,431</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 12.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-402" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1221">10,578,120</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 494.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1222">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1223">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1224">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1225">367,098</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1226">338,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1227">2,027,001</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-403" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1228">2,732,203</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 508.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1229">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1230">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1231">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1232">168,985</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1233">433,385</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1234">571,782</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-404" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1235">1,174,152</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 522.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1236">3,578,441</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1237">333,977</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1238">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1239">3,977,188</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1240">5,176,963</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1241">5,000,350</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-405" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1242">18,066,919</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 537pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 537pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1243">695,719</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 551.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 551.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1244">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 579.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1245">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1246">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1247">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.39pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" scale="3" id="f-1248">168</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1249">71,853</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1250">56,971</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1251">128,992</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 693.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.99pt">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">28<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-872-4"><ix:continuation id="f-584-9" continuedAt="f-584-10"><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 14.25pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 161.17pt; position: var(--position); text-decoration: none; white-space: pre">As of December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2020<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1252">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1253">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1254">151,674</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1255">245,289</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1256">60,240</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1257">1,381,858</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-406" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1258">1,839,061</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1259">60,651</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1260">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1261">197,153</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1262">1,611,856</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1263">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1264">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-407" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1265">1,869,660</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1266">268,408</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1267">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1268">1,599,604</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1269">2,160,837</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1270">691,097</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1271">392,470</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-408" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1272">5,112,416</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1273">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1274">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1275">236,780</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1276">1,019,672</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1277">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1278">726,513</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-409" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1279">1,982,965</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1280">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1281">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1282">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1283">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1284">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1285">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-410" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1286">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 128.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1287">329,059</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1288">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1289">2,185,211</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1290">5,037,654</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1291">751,337</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1292">2,500,841</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-411" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1293">10,804,102</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 142.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1294">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1295">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1296">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1297">80,219</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1298">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1299">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-412" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1300">80,219</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1301">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1302">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1303">500,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1304">787,660</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1305">87,629</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1306">101,828</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-413" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1307">1,477,221</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1308">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1309">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1310">594,740</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1311">1,126,698</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1312">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1313">1,332,805</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-414" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1314">3,054,243</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1315">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1316">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1317">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1318">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1319">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1320">198,389</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-415" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1321">198,389</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1322">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1323">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1324">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1325">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1326">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1327">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-416" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1328">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1329">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1330">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1331">1,094,844</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1332">1,994,577</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1333">87,629</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1334">1,633,022</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-417" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1335">4,810,072</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1336">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1337">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1338">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1339">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1340">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1341">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-418" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1342">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1343">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1344">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1345">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1346">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1347">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1348">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-419" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1349">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 285pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1350">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1351">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1352">814,225</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1353">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1354">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1355">265,808</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-420" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1356">1,080,033</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 299.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1357">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1358">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1359">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1360">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1361">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1362">525,750</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-421" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1363">525,750</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 313.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1364">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1365">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1366">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1367">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1368">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1369">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-422" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1370">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 327.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1371">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1372">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1373">814,225</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1374">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1375">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1376">791,558</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-319" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1377">1,605,783</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 342pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 356.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1378">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1379">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1380">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1381">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1382">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1383">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-423" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1384">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 370.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1385">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1386">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1387">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1388">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1389">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-424" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1390">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; 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font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-426" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:fixed-zero" scale="3" id="f-1405">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 413.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; 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vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-427" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1408">170,388</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-427" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1409">367,030</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-427" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1410">34,214</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-427" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1411">1,255,929</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-427" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1412">1,827,561</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 427.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1413">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1414">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1415">170,388</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1416">367,030</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1417">34,214</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1418">1,255,929</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-320" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1419">1,827,561</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1420">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1421">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1422">151,674</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1423">325,508</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1424">60,240</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1425">1,381,858</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-428" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1426">1,919,280</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 470.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1427">60,651</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1428">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1429">697,257</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1430">2,399,516</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1431">87,629</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1432">101,828</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-429" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1433">3,346,881</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 484.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1434">268,408</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1435">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1436">3,008,569</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1437">3,287,535</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1438">691,097</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1439">1,991,083</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-430" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1440">9,246,692</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 498.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1441">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1442">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1443">236,780</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1444">1,019,672</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1445">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1446">1,450,652</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-431" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1447">2,707,104</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 513pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1448">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1449">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1450">170,388</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1451">367,030</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1452">34,214</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1453">1,255,929</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-432" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1454">1,827,561</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 527.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1455">329,059</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" format="ixt:fixed-zero" scale="3" id="f-1456">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1457">4,264,668</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1458">7,399,261</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1459">873,180</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1460">6,181,350</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-433" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1461">19,047,518</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 541.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 541.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-1462">733,936</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 555.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 555.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-1463">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 584.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1464">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1465">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1466">52,045</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1467">255,005</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" format="ixt:fixed-zero" scale="3" id="f-1468">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1469">77,553</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-138" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" format="ixt:num-dot-decimal" scale="3" id="f-1470">384,603</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.04pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.54pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.08pt; position: var(--position); text-decoration: none; white-space: pre">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">29<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-584-10" continuedAt="f-584-11"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Loan Modifications Pursuant to ASC 326<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.12pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.51pt">twelve months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.3pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt">, we entered into <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-434" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1471">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.4pt"> loan modifications that require disclosure<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.37pt">pursuant to ASC 326. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.89pt"><ix:nonFraction unitRef="loan" contextRef="c-162" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1472">Four</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.23pt"> of these loans were collateralized by office assets and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"><ix:nonFraction unitRef="loan" contextRef="c-435" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1473">one</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.9pt"> was collateralized by a mixed-use<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.91pt">asset.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Loans with a risk rating of &#8220;3&#8221; and &#8220;4&#8221; are included in the determination of our general CECL reserve and loans with a risk<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">rating of &#8220;5&#8221; have an asset-specific CECL reserve. Loan modifications that allow the option to pay interest in-kind increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">our potential economics and the size of our secured claim, as interest is capitalized and added to the outstanding principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.93pt">balance for applicable loans. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.62pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 252.84pt"> income was recorded on our loans subsequent to determining<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.39pt">that they were impaired and risk rated &#8220;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.93pt">.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.32pt"><ix:nonFraction unitRef="loan" contextRef="c-436" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1474">Two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 476.6pt"> of the loan modifications included term extensions combined with other-than-insignificant payment delays. The first<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.34pt">loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.66pt"><ix:nonNumeric contextRef="c-437" name="us-gaap:FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" format="ixt-sec:durwordsen" id="f-1475">five years</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.5pt">, the borrower repaid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 380pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.4pt">$<ix:nonFraction unitRef="usd" contextRef="c-437" decimals="-5" name="us-gaap:ProceedsFromCollectionOfLoansReceivable" format="ixt:num-dot-decimal" scale="6" id="f-1476">6.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 124pt"> of principal, and the loan was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">bifurcated into a separate senior loan and subordinate loan. We are accruing interest on the senior loan, which is paying<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">interest current, and deferring interest on the subordinate loan that is paying interest in-kind. The second loan modification<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.78pt">had a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.98pt"><ix:nonNumeric contextRef="c-438" name="us-gaap:FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" format="ixt-sec:duryear" id="f-1477">3.8</ix:nonNumeric> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.21pt">, the loan was bifurcated into a separate senior loan and subordinate loan, and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.47pt">borrower paid a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.75pt">$<ix:nonFraction unitRef="usd" contextRef="c-438" decimals="-5" name="us-gaap:ProceedsFromCollectionOfLoansReceivable" format="ixt:num-dot-decimal" scale="6" id="f-1478">1.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.52pt"> fee upon closing of the modification.<span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #ee2724; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.83pt">We are accruing interest on the senior loan, which is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 436.59pt">paying interest current, and deferring interest on the subordinate loan that is paying interest in-kind. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.38pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 233.5pt">, the aggregate amortized cost basis of these loans was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.2pt">$<ix:nonFraction unitRef="usd" contextRef="c-436" decimals="-5" name="us-gaap:FinancingReceivableExcludingAccruedInterestModifiedPeriod" format="ixt:num-dot-decimal" scale="6" id="f-1479">367.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.53pt">, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-436" decimals="3" name="us-gaap:FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" scale="-2" id="f-1480">2.0</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.84pt"> of our aggregate loans receivable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.44pt">portfolio, with an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 174.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$<ix:nonFraction unitRef="usd" contextRef="c-439" decimals="-5" name="bxmt:FinancingReceivableModifiedOffBalanceSheetLiability" format="ixt:num-dot-decimal" scale="6" id="f-1481">4.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 328.88pt"> of unfunded commitments. These loans were in compliance with their modified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.2pt">contractual terms as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.14pt">The other <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt"><ix:nonFraction unitRef="loan" contextRef="c-440" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1482">three</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.21pt"> loan modifications<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.57pt"> included term extensions combined with other-than-insignificant payment delays and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.64pt">interest rate reductions. The first loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.96pt"><ix:nonNumeric contextRef="c-441" name="us-gaap:FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" format="ixt-sec:duryear" id="f-1483">4.8</ix:nonNumeric> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.32pt">, the interest rate decreased by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-441" decimals="4" sign="-" name="bxmt:FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" scale="-2" id="f-1484">0.10</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 469.06pt">, and the loan was bifurcated into a separate senior loan and subordinate loan. The senior loan is paying interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">partially current, and partially in-kind, while the subordinate loan is paying interest in-kind. We are accruing interest on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">portion of the senior loan that is paying current and a portion that is paid in-kind, and deferring interest income recognition<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">on the remaining portion, including the entire subordinate loan. The second loan modification included a term extension of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.03pt"><ix:nonNumeric contextRef="c-442" name="us-gaap:FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" format="ixt-sec:durwordsen" id="f-1485">one year</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.34pt">, the interest rate on the senior loan decreased by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-442" decimals="4" sign="-" name="bxmt:FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" scale="-2" id="f-1486">2.43</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.94pt">, the borrower repaid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$<ix:nonFraction unitRef="usd" contextRef="c-442" decimals="-5" name="us-gaap:ProceedsFromCollectionOfLoansReceivable" format="ixt:num-dot-decimal" scale="6" id="f-1487">25.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.03pt"> upon closing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">modification, and the loan was bifurcated into a separate senior loan and subordinate loan. The senior loan is paying<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 406.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">interest partially current, and partially in-kind, while the subordinate loan is paying interest in-kind. We are accruing all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">the interest on the senior loan that is paying partially current and partially in-kind, and deferring interest on the subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.78pt">loan that is paying interest in-kind. The third loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.22pt"><ix:nonNumeric contextRef="c-443" name="us-gaap:FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" format="ixt-sec:duryear" id="f-1488">4.3</ix:nonNumeric> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.97pt">, the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.73pt">decreased by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.22999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-443" decimals="4" sign="-" name="bxmt:FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" scale="-2" id="f-1489">3.56</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 413.39pt">, and the loan was bifurcated into a separate senior loan and subordinate loan. We are accruing all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 452.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">the interest on the senior loan that is paying current, and deferring interest income on the subordinate loan, which is paid-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 464pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.44pt">in-kind. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.1pt">, the aggregate amortized cost basis of these loans was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.56pt">$<ix:nonFraction unitRef="usd" contextRef="c-440" decimals="-5" name="us-gaap:FinancingReceivableExcludingAccruedInterestModifiedPeriod" format="ixt:num-dot-decimal" scale="6" id="f-1490">506.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.25pt">, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-440" decimals="3" name="us-gaap:FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" scale="-2" id="f-1491">2.8</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 525.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.08pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.3pt">aggregate loans receivable portfolio, with an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">$<ix:nonFraction unitRef="usd" contextRef="c-444" decimals="-5" name="bxmt:FinancingReceivableModifiedOffBalanceSheetLiability" format="ixt:num-dot-decimal" scale="6" id="f-1492">32.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.97pt"> of unfunded commitments. These loans were in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.36pt">compliance with their modified contractual terms as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.56pt">All <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-434" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1493">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 145.05pt"> of these loans had a risk rating of &#8220;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 239.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.73pt">&#8221; at the time of modification. In aggregate, these modifications resulted in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.78pt">bifurcation of all <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 128.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-434" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1494">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.68pt"> loans into separate senior and subordinate loans, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.2pt"><ix:nonFraction unitRef="loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1495">ten</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.92pt"> loans in aggregate. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.9300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.65pt">of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-445" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1496">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 99.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.72pt"> newly bifurcated senior loans, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="loan" contextRef="c-446" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1497">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.41pt"> loans had a risk rating of &#8220;4,&#8221; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"><ix:nonFraction unitRef="loan" contextRef="c-447" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1498">one</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.51pt"> loan had a risk rating of &#8220;3,&#8221; and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="loan" contextRef="c-448" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1499">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.65pt"> loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 545pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.87pt">had a risk rating of &#8220;2.&#8221; The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-434" decimals="INF" name="bxmt:FinancingReceivableModifiedNumberOfContracts" format="ixt-sec:numwordsen" scale="0" id="f-1500">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 251.93pt"> newly bifurcated subordinate loans all had a risk rating of &#8220;5.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.68pt">Multifamily Joint Venture<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 171.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.15pt">As discussed in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.41pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.72pt">, we entered into our Multifamily Joint Venture in April 2017. As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.42pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.21pt">, our Multifamily Joint Venture held<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.75pt"> a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.01pt">$<ix:nonFraction unitRef="usd" contextRef="c-449" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" format="ixt:num-dot-decimal" scale="6" id="f-1501"><ix:nonFraction unitRef="usd" contextRef="c-450" decimals="-5" name="bxmt:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" format="ixt:num-dot-decimal" scale="6" id="f-1502">43.3</ix:nonFraction></ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.03pt"> loan, which is included in the loan disclosures<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.66pt">above. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 88.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.04pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.03pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.14pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 256.31pt">, our Multifamily Joint Venture also held an REO asset with a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.86pt">carrying value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 130.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.22pt">$<ix:nonFraction unitRef="usd" contextRef="c-450" decimals="-5" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="6" id="f-1503">32.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.17pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.22pt">$<ix:nonFraction unitRef="usd" contextRef="c-449" decimals="-5" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="6" id="f-1504">32.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 239.55pt">, respectively, which is included in the REO disclosures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.29pt">Note 4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 525.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.55pt">. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638pt; width: 612pt"><ix:continuation id="f-584-11"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 224.53pt"> for further discussion of our Multifamily Joint Venture.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 667.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_52"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">4. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:RealEstateOwnedTextBlock" id="f-1505" continuedAt="f-1505-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">REAL ESTATE OWNED, NET<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1505-1" continuedAt="f-1505-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.72pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.71pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.5pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-3" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" scale="0" id="f-1506">10</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.71pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-4" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" format="ixt-sec:numwordsen" scale="0" id="f-1507">seven</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.89pt"> REO assets, respectively. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.27pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.21pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.71pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.46pt">we acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-1" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssets" format="ixt-sec:numwordsen" scale="0" id="f-1508">three</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.19pt"> REO<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.03pt"> assets through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.82pt">deed-in-lieu of foreclosure transactions or loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 714pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.2pt">modifications that resulted in us consolidating the collateral assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.94pt">, for a total acquisition price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.42pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="bxmt:RealEstateOwnedConsiderationTransferred" format="ixt:num-dot-decimal" scale="6" id="f-1509">406.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.43pt">. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 725.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.96pt">allocated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.46000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.28pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" format="ixt:num-dot-decimal" scale="6" id="f-1510">221.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.84pt"> to land and land improvements, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.28pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" scale="6" id="f-1511">137.1</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.06pt"> to building and building improvements, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" scale="6" id="f-1512">49.2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">30<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-1505-2" continuedAt="f-1505-3"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.85pt">million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.55pt"> to acquired intangible assets, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.38pt">$(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" sign="-" name="bxmt:OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" scale="6" id="f-1513">1.0</ix:nonFraction>) million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.09pt"> to other components of the purchase price. In aggregate, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">charged off <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.57pt">$<ix:nonFraction unitRef="usd" contextRef="c-451" decimals="-5" name="us-gaap:FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" scale="6" id="f-1514">83.9</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.68pt"> of CECL reserves relating to the loans that had previously been secured by these assets, as the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.99pt">loans&#8217; aggregate carrying value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-452" decimals="-5" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="6" id="f-1515">490.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 291.04pt"> at the time of the REO acquisitions exceeded the acquisition date fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.61pt">value noted above. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.08pt"> for further discussion of RE<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.52pt">O assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.13pt">The acquisition of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt"><ix:nonFraction unitRef="real_estate_owned_asset" contextRef="c-1" decimals="INF" name="bxmt:RealEstateOwnedNumberOfAssets" format="ixt-sec:numwordsen" scale="0" id="f-1516">three</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.98pt"> REO assets during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.45pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.48pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.18pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.69pt"> were accounted for as asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 414.53pt">acquisitions under ASC 805, and we recognized these properties as REO assets held for investment. <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:AssetAcquisitionTableTextBlock" id="f-1517" continuedAt="f-1517-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.45pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1517-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.79pt">presents the REO assets that were acquired during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.1pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 47.52pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.65pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.28pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date Fair Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">February 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Chicago, IL<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 12.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-453" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1518">45,045</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Atlanta, GA<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 27.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-454" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1519">132,974</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York, NY<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 42.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-455" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1520">228,253</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 57.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-456" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1521">406,272</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 242.25pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" id="f-1522" continuedAt="f-1522-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 479.15pt">The following table presents the REO assets and liabilities included in our consolidated balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1522-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 259.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 334.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Building and building improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:BuildingAndBuildingImprovementsAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1523">555,879</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:BuildingAndBuildingImprovementsAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1524">410,546</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Land and land improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LandAndSiteImprovementsAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1525">402,248</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LandAndSiteImprovementsAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1526">181,083</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1527">958,127</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1528">591,629</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated depreciation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="f-1529">24,492</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="f-1530">3,444</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1531">933,635</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-1532">588,185</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1533">130,099</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1534">83,253</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.21pt"></span></span><span style="left: 43.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="f-1535">33,427</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.21pt"></span></span><span style="left: 48.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" format="ixt:num-dot-decimal" scale="3" id="f-1536">5,964</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 146.81pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1537">96,672</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1538">77,289</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 192pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1539">4,545</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" format="ixt:num-dot-decimal" scale="3" id="f-1540">1,422</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 207pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.71pt"></span></span><span style="left: 56.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" sign="-" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" scale="3" id="f-1541">317</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 63.71pt"></span></span><span style="left: 66.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" sign="-" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" scale="3" id="f-1542">1</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 222pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate liabilities, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 160.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1543">4,228</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1544">1,421</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.99pt">Included within other assets on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.83pt">Included within other liabilities on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.25pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="bxmt:ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" id="f-1545" continuedAt="f-1545-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.46pt">Revenue and expenses from real estate owned consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1545-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 225pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.92pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Rental income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedRentalIncome" format="ixt:num-dot-decimal" scale="3" id="f-1546">15,263</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedRentalIncome" format="ixt:num-dot-decimal" scale="3" id="f-1547">1,037</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedRentalIncome" format="ixt:num-dot-decimal" scale="3" id="f-1548">45,803</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedRentalIncome" format="ixt:num-dot-decimal" scale="3" id="f-1549">1,037</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other operating income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedOtherIncome" format="ixt:num-dot-decimal" scale="3" id="f-1550">18,470</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedOtherIncome" scale="3" id="f-1551">177</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedOtherIncome" format="ixt:num-dot-decimal" scale="3" id="f-1552">63,775</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedOtherIncome" scale="3" id="f-1553">177</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-1554">33,733</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-1555">1,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-1556">109,578</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedIncome" format="ixt:num-dot-decimal" scale="3" id="f-1557">1,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedOperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1558">28,061</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedOperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1559">1,654</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedOperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1560">89,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedOperatingExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1561">2,432</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 101.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Depreciation and amortization expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedDepreciationAndAmortizationExpense" format="ixt:num-dot-decimal" scale="3" id="f-1562">15,039</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedDepreciationAndAmortizationExpense" format="ixt:num-dot-decimal" scale="3" id="f-1563">1,030</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedDepreciationAndAmortizationExpense" format="ixt:num-dot-decimal" scale="3" id="f-1564">47,960</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedDepreciationAndAmortizationExpense" format="ixt:num-dot-decimal" scale="3" id="f-1565">1,215</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 116.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1566">43,100</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1567">2,684</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1568">137,198</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:RealEstateOwnedExpenses" format="ixt:num-dot-decimal" scale="3" id="f-1569">3,647</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Net loss from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="bxmt:RealEstateOwnedIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-1570">9,367</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="bxmt:RealEstateOwnedIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-1571">1,470</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="bxmt:RealEstateOwnedIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-1572">27,620</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="bxmt:RealEstateOwnedIncomeLoss" format="ixt:num-dot-decimal" scale="3" id="f-1573">2,433</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">31<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1505-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" id="f-1574" continuedAt="f-1574-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table presents the undiscounted future minimum rents we expect to receive for our office properties as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1574-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.5pt">. Leases at our multifamily assets are short term, generally 12 months or less, and are therefore not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.4pt">included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.91pt"> ($ in thousands)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 363.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 0pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25pt; position: var(--position); text-decoration: none; white-space: pre">Future Minimum Rents<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 92.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1575">17,836</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 27.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-1576">61,740</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 42.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedTwoYears" format="ixt:num-dot-decimal" scale="3" id="f-1577">50,111</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 57.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedThreeYears" format="ixt:num-dot-decimal" scale="3" id="f-1578">41,736</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 72.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceivedFourYears" format="ixt:num-dot-decimal" scale="3" id="f-1579">34,329</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 87.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LessorOperatingLeasePaymentToBeReceivedAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-1580">72,948</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 102.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 87.04pt"></span></span><span style="left: 94.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LessorOperatingLeasePaymentsToBeReceived" format="ixt:num-dot-decimal" scale="3" id="f-1581">278,700</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 235.25pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" id="f-1583" continuedAt="f-1583-1" escape="true"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" id="f-1582" continuedAt="f-1582-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 486.05pt">The following table presents the amortization of lease intangibles for each of the succeeding fiscal years ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></ix:nonNumeric></div><ix:continuation id="f-1583-1"><ix:continuation id="f-1582-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 158.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.27pt; position: var(--position); text-decoration: none; white-space: pre">In-place lease intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">Above-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.71pt; position: var(--position); text-decoration: none; white-space: pre">Below-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1584">9,561</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-1585">1,427</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 80.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" scale="3" id="f-1586">292</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-1587">26,096</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-1588">4,121</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 77.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseAmortizationIncomeNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-1589">1,140</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-1590">15,437</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-1591">3,077</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseAmortizationIncomeYearTwo" scale="3" id="f-1592">995</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" format="ixt:num-dot-decimal" scale="3" id="f-1593">11,225</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" format="ixt:num-dot-decimal" scale="3" id="f-1594">2,505</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseAmortizationIncomeYearThree" scale="3" id="f-1595">872</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" format="ixt:num-dot-decimal" scale="3" id="f-1596">7,765</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" format="ixt:num-dot-decimal" scale="3" id="f-1597">1,708</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseAmortizationIncomeYearFour" scale="3" id="f-1598">498</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="bxmt:FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-1599">11,002</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="bxmt:FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-1600">2,748</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:BelowMarketLeaseAmortizationIncomeAfterYearFour" scale="3" id="f-1601">431</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-457" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsNet" format="ixt:num-dot-decimal" scale="3" id="f-1602">81,086</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-458" decimals="-3" name="us-gaap:FiniteLivedIntangibleAssetsNet" format="ixt:num-dot-decimal" scale="3" id="f-1603">15,586</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 72.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:BelowMarketLeaseNet" format="ixt:num-dot-decimal" scale="3" id="f-1604">4,228</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation></ix:continuation></ix:continuation><div style="position: absolute; top: 408.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_1644"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 408.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">5. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:EquityMethodInvestmentsDisclosureTextBlock" id="f-1605" continuedAt="f-1605-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">INVESTMENTS IN UNCONSOLIDATED ENTITIES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1605-1" continuedAt="f-1605-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.78pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.51pt">, we hold certain investments in unconsolidated entities that are accounted for under the equity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">method of accounting or the FVO, as our ownership interest in each entity does not meet the requirements for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.78pt">consolidation. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.91pt"> for further details.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:EquityMethodInvestmentsTextBlock" id="f-1606" continuedAt="f-1606-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.67pt">The following tables detail our investments in unconsolidated entities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1606-1" continuedAt="f-1606-2"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 64.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-124" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" scale="0" id="f-1607">115</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-124" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-1608">75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 48.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-124" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1609">77,731</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-459" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" scale="0" id="f-1610">115</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-459" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1611">77,731</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-125" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" scale="0" id="f-1612">571</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-125" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-1613">35</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 33.51pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 93.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-125" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1614">104,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 108.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-460" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" scale="0" id="f-1615">571</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 108.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-460" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1616">104,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 123.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-3" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" scale="0" id="f-1617">686</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 123.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 43.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1618">182,598</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 633.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 641.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.08pt">The number of assets represents the number of real estate properties held.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.7pt">The number of assets represents the number of commercial mortgage loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 664.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 220.94pt">Represents our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.52pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.5pt">, which owns an initial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">portfolio of commercial mortgage loans acquired during the three months ended June 30, 2025, in which we hold a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 687.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-461" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-1619">29</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 312.96pt"> interest, and an additional portfolio acquired during the three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.43pt">, in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.2pt">hold a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-462" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-1620">50</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.39pt"> interest.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">32<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1605-2"><ix:continuation id="f-1606-2" continuedAt="f-1606-3"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 65.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-463" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" format="ixt:fixed-zero" scale="0" id="f-1621">&#8211;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-463" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-1622">75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-463" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1623">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-464" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" format="ixt:fixed-zero" scale="0" id="f-1624">&#8211;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 51.04pt"></span></span><span style="left: 53.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-464" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1625">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 78.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="property" contextRef="c-4" decimals="INF" name="bxmt:EquityMethodInvestmentsNumberOfProperties" format="ixt:fixed-zero" scale="0" id="f-1626">&#8211;</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 78.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1627">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.75pt; width: 612pt"><ix:continuation id="f-1606-3" continuedAt="f-1606-4"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.79pt">The following tables detail the activity related to our investments in unconsolidated entities during the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1606-4" continuedAt="f-1606-5"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 61.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 0pt; width: 61.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.66pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.2pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.33pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.62pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.81pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-465" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1628">52,181</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-466" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1629">26,281</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-466" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1630">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 39.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.46pt"></span></span><span style="left: 39.09pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-466" decimals="-3" sign="-" name="us-gaap:IncomeLossFromEquityMethodInvestments" scale="3" id="f-1631">367</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-466" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" scale="3" id="f-1632">364</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-124" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1633">77,731</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-467" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1634">55,906</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-468" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1635">44,670</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-468" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1636">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 54.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.29pt"></span></span><span style="left: 34.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-468" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1637">4,291</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-468" decimals="-3" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:fixed-zero" scale="3" id="f-1638">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-125" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1639">104,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-50" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1640">108,087</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1641">70,951</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1642">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 69.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.29pt"></span></span><span style="left: 34.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1643">3,924</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" scale="3" id="f-1644">364</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1645">182,598</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 62.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.19pt; position: var(--position); text-decoration: none; white-space: pre">December <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.5pt; position: var(--position); text-decoration: none; white-space: pre">31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 0pt; width: 62.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.03pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.58pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.7pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 41.19pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-463" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1646">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-469" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1647">76,391</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-469" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1648">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 39.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.71pt"></span></span><span style="left: 32.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-469" decimals="-3" sign="-" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1649">1,559</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-469" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-1650">1,553</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-124" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1651">77,731</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-470" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:fixed-zero" scale="3" id="f-1652">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-471" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1653">102,273</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-471" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1654">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 54.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-471" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1655">2,594</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-471" decimals="-3" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:fixed-zero" scale="3" id="f-1656">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-125" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1657">104,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1658">4,452</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:EquityMethodInvestmentsContribution" format="ixt:num-dot-decimal" scale="3" id="f-1659">178,664</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:EquityMethodInvestmentDividendsOrDistributions" format="ixt:fixed-zero" scale="3" id="f-1660">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 69.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1661">1,035</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:OciEquityMethodInvestmentAfterTax" format="ixt:num-dot-decimal" scale="3" id="f-1662">1,553</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="3" id="f-1663">182,598</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 391.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 399.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Includes our share of non-cash items such as (i) depreciation and amortization, and (ii) unrealized gains recorded by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.75pt; width: 612pt"><ix:continuation id="f-1606-5"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.32pt">unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 434.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.83pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="INF" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:fixed-zero" scale="0" id="f-1664"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="INF" name="us-gaap:IncomeLossFromEquityMethodInvestments" format="ixt:fixed-zero" scale="0" id="f-1665">no</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.78pt"> income or loss from unconsolidated entities for the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 457.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.32pt">During<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 86.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.9pt"> the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.53pt">, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.36pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.16pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">each entered into derivative agreements where we would be required to make payment for periodic or final settlement of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 480.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.59pt">derivative contracts if either our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.98pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.11pt"> or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.32pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.86pt">, as applicable, is unable to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.05pt">fulfill its respective obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">33<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_58"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">6<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 63.5pt; position: var(--position); text-decoration: none; white-space: pre">. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="bxmt:OtherAssetsAndLiabilitiesDisclosureTextBlock" id="f-1666" continuedAt="f-1666-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">OTHER ASSETS AND LIABILITIES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1666-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Other Assets <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfOtherAssetsTableTextBlock" id="f-1667" continuedAt="f-1667-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.01pt">The following table details the components of our other assets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1667-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan portfolio payments held by servicer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 167.73pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" format="ixt:num-dot-decimal" scale="3" id="f-1668">429,747</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" format="ixt:num-dot-decimal" scale="3" id="f-1669">113,199</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:InterestReceivable" format="ixt:num-dot-decimal" scale="3" id="f-1670">138,130</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:InterestReceivable" format="ixt:num-dot-decimal" scale="3" id="f-1671">160,131</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Accounts receivable and other assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 149.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:AccountsReceivableNetCurrentAndOtherAssetsCurrent" format="ixt:num-dot-decimal" scale="3" id="f-1672">114,172</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:AccountsReceivableNetCurrentAndOtherAssetsCurrent" format="ixt:num-dot-decimal" scale="3" id="f-1673">134,030</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate intangible assets, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1674">96,672</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:IntangibleRealEstateAcquiredThroughForeclosureNet" format="ixt:num-dot-decimal" scale="3" id="f-1675">77,289</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-1676">35,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OtherRealEstate" format="ixt:num-dot-decimal" scale="3" id="f-1677">9,338</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-1678">19,505</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-1679">72,454</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Prepaid expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.04pt"></span></span><span style="left: 59.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:PrepaidExpenseCurrentAndNoncurrent" scale="3" id="f-1680">126</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:PrepaidExpenseCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-1681">1,002</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral deposited under derivative agreements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 62.04pt"></span></span><span style="left: 64.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:CollateralAlreadyPostedAggregateFairValue" format="ixt:fixed-zero" scale="3" id="f-1682">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:CollateralAlreadyPostedAggregateFairValue" format="ixt:num-dot-decimal" scale="3" id="f-1683">4,810</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-1684">834,219</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-1685">572,253</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 259.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 267.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">Primarily represents loan principal repayments held by our third-party loan servicers as of the balance sheet date that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 237.74pt">were remitted to us during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 290.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.95pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.45pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:CashCollateralForCollateralizedLoanObligations" format="ixt:num-dot-decimal" scale="6" id="f-1686">105.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.45pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="bxmt:CashCollateralForCollateralizedLoanObligations" format="ixt:num-dot-decimal" scale="6" id="f-1687">95.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.95pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.63pt">, respectively, of cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">collateral held by our CLOs that was subsequently remitted by the trustee to repay a portion of the outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 313.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 437.84pt">senior CLO securities, or that was subsequently reinvested by purchasing additional collateral into our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 348.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.74pt">Other Liabilities<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 129.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.75pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:OtherLiabilitiesTableTextBlock" id="f-1688" continuedAt="f-1688-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.85pt">The following table details the components of our other liabilities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1688-1"><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Debt repayments pending servicer remittance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 184.04pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:SecuredDebtRepaymentsPendingServicerRemittance" format="ixt:num-dot-decimal" scale="3" id="f-1689">335,433</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 57.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:SecuredDebtRepaymentsPendingServicerRemittance" format="ixt:num-dot-decimal" scale="3" id="f-1690">3,742</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:OtherRealEstateLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1691">114,413</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:OtherRealEstateLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1692">72,018</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued dividends payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DividendsPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-1693">80,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DividendsPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-1694">81,214</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-1695">64,911</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="3" id="f-1696">77,855</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued management fees payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:ManagementFeePayable" format="ixt:num-dot-decimal" scale="3" id="f-1697">16,849</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:ManagementFeePayable" format="ixt:num-dot-decimal" scale="3" id="f-1698">18,534</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Current expected credit loss reserves for unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 280.64pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="3" id="f-1699">13,741</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="3" id="f-1700">10,412</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accounts payable and other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:AccountsPayableAndOtherAccruedLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1701">11,230</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:AccountsPayableAndOtherAccruedLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1702">13,834</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.54pt"></span></span><span style="left: 52.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1703">2,557</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1704">5,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1705">639,372</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-1706">282,847</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 543.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents pending transfers from our third-party loan servicer that were remitted to our banking counterparties or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.89pt">CLO trustees during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 322.19pt">Represents the CECL reserve related to our unfunded loan commitments. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.81pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.97pt"> for further discussion of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.25pt">CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 617.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Current Expected Credit Loss Reserves for Unfunded Loan Commitments <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.52pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.64pt">, we had aggregate unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.12pt">$<ix:nonFraction unitRef="usd" contextRef="c-139" decimals="-8" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="9" id="f-1707">1.5</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.55pt"> related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="loan" contextRef="c-472" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-1708">57</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.76pt"> loans receivable. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">expected credit losses over the contractual period of our loans are impacted by our obligations to extend further credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 188.86pt">through our unfunded loan commitments. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.45pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.62pt"> for further discussion of the CECL reserves related to our unfunded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.01pt">loan commitments, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.59pt">Note 22<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 251.51pt"> for further discussion of our unfunded loan commitments. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 444.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.86pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.93pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.57pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.02pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.6pt">increases<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.21pt"> in the CECL reserves related to our unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.32pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 72.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.34pt">$<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-5" name="us-gaap:OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="6" id="f-1709">2.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.34pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="us-gaap:OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="6" id="f-1710">3.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.05pt"> respectively, bringing our total unfunded loan commitments CECL reserve to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.77pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="6" id="f-1711">13.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.27000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.91pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.06pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.14pt">. D<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.14pt">uring the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.43pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.55pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.06pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.94pt">, we recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.26pt">decreases<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 96.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.98pt"> in the CECL reserves related to our unfunded loan commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.42pt">$<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-5" sign="-" name="us-gaap:OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="6" id="f-1712">1.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.57pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.42pt">$<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-5" sign="-" name="us-gaap:OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" format="ixt:num-dot-decimal" scale="6" id="f-1713">7.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.32pt">, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 258.9pt">bringing our total unfunded loan commitments CECL reserve to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-109" decimals="-5" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="6" id="f-1714">8.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.15pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">34<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_64"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">7. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:LongTermDebtTextBlock" id="f-1715" continuedAt="f-1715-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1715-1" continuedAt="f-1715-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$<ix:nonFraction unitRef="usd" contextRef="c-473" decimals="-8" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="9" id="f-1716">2.2</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$<ix:nonFraction unitRef="usd" contextRef="c-474" decimals="-8" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="9" id="f-1717">2.9</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfDebtInstrumentsTextBlock" id="f-1718" continuedAt="f-1718-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1718-1" continuedAt="f-1718-2"><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1719">9,548,332</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-476" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1720">9,705,529</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-474" decimals="-3" name="us-gaap:DeferredFinanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-1721">8,108</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-477" decimals="-3" name="us-gaap:DeferredFinanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-1722">9,195</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-474" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1723">9,540,224</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-477" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1724">9,696,334</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><ix:continuation id="f-1718-2" continuedAt="f-1718-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="lender" contextRef="c-478" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1725">13</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><ix:continuation id="f-1718-3" continuedAt="f-1718-4"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-4" continuedAt="f-1718-5"><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"/></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="lender" contextRef="c-479" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1726">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-480" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1727">3,954,253</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-479" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1728">81</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-480" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1729">6,522,111</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-481" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1730">32</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-482" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1731">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-483" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1732">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="lender" contextRef="c-484" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1733">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-485" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1734">2,265,827</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-484" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1735">14</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-485" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1736">3,098,509</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-486" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1737">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-487" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1738">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="lender" contextRef="c-488" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1739">7</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-489" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1740">1,835,792</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-488" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1741">10</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-489" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1742">2,588,781</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-490" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1743">42</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-491" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1744">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-492" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1745">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="lender" contextRef="c-493" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1746">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-494" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1747">1,492,460</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-493" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1748">7</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-494" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1749">1,873,776</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-495" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1750">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-494" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1751">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="lender" contextRef="c-478" decimals="INF" name="bxmt:DebtInstrumentNumberOfLenders" scale="0" id="f-1752">13</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1753">9,548,332</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-478" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1754">112</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1755">14,083,177</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-496" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1756">31</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-497" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1757">25</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-498" decimals="2" name="bxmt:LineOfCreditFacilityRecourseLimitationPercent" scale="-2" id="f-1758">100</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">35<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1715-2" continuedAt="f-1715-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:continuation id="f-1718-5" continuedAt="f-1718-6"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-6" continuedAt="f-1718-7"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-499" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1759">1,385,800</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-500" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1760">4,547,118</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-500" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1761">1.54</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-500" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1762">6,600,493</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-500" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1763">2.99</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-500" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1764">1.45</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-501" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1765">555,478</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-502" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1766">2,564,711</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-502" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1767">1.75</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-502" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1768">3,375,095</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-502" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1769">3.48</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-502" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1770">1.73</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-503" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1771">104,841</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-504" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1772">935,067</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-504" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1773">2.10</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-504" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1774">1,766,876</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-504" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1775">3.28</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-504" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1776">1.18</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-505" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1777">137,147</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-506" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1778">1,501,436</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-506" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1779">2.63</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-506" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1780">2,340,713</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-506" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1781">4.24</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-506" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1782">1.61</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-478" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1783">2,183,266</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1784">9,548,332</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-475" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1785">1.82</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1786">14,083,177</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-475" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1787">3.35</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-475" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1788">1.53</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-507" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1789">165,616</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-508" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1790">3,976,192</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-508" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1791">1.53</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-508" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1792">6,185,925</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-508" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1793">3.18</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-508" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1794">1.65</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-509" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1795">74,118</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-510" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1796">2,238,376</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-510" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1797">1.78</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-510" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1798">3,140,937</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-510" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1799">3.52</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-510" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1800">1.74</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-511" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:fixed-zero" scale="0" id="f-1801">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-512" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1802">969,541</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-512" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1803">2.09</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-512" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1804">1,802,431</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-512" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1805">3.67</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-512" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1806">1.58</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-513" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1807">374,407</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-514" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1808">2,521,420</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-514" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1809">2.61</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-514" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1810">3,678,528</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-514" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1811">4.31</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-514" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1812">1.70</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-515" decimals="-3" name="us-gaap:ProceedsFromLinesOfCredit" format="ixt:num-dot-decimal" scale="3" id="f-1813">614,141</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-476" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1814">9,705,529</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-476" decimals="4" name="bxmt:LineOfCreditFacilityWeightedAverageAllInCost" scale="-2" id="f-1815">1.92</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-476" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1816">14,807,821</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-476" decimals="4" name="bxmt:DebtInstrumentWeightedAverageAllInYield" scale="-2" id="f-1817">3.58</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+<ix:nonFraction unitRef="number" contextRef="c-476" decimals="4" name="us-gaap:DebtWeightedAverageInterestRate" scale="-2" id="f-1818">1.66</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-475" decimals="-5" name="us-gaap:LineOfCreditFacilityRemainingBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="f-1819">844.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt"><ix:nonFraction unitRef="number" contextRef="c-5" decimals="INF" name="bxmt:DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" scale="0" id="f-1820">1.3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-5" decimals="-8" name="bxmt:DebtInstrumentCovenantTangibleNetWorthMinimum" scale="9" id="f-1821">3.6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-516" decimals="2" name="bxmt:DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" scale="-2" id="f-1822">75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-517" decimals="2" name="bxmt:DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" scale="-2" id="f-1823">85</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-5" decimals="-5" name="bxmt:DebtInstrumentCovenantCashLiquidityMinimum" scale="6" id="f-1824">10.0</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt"><ix:nonFraction unitRef="number" contextRef="c-5" decimals="2" name="bxmt:DebtInstrumentCovenantRecourseIndebtednessMaximum" scale="-2" id="f-1825">5</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt"><ix:nonFraction unitRef="number" contextRef="c-5" decimals="4" name="bxmt:DebtInstrumentCovenantIndebtednessMaximum" scale="-2" id="f-1826">83.33</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt"><ix:nonFraction unitRef="number" contextRef="c-6" decimals="INF" name="bxmt:DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" scale="0" id="f-1827">1.25</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt"><ix:nonFraction unitRef="number" contextRef="c-518" decimals="INF" name="bxmt:DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" scale="0" id="f-1828">1.3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">36<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_67"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">8. <span style="display: inline-block; height: 6.77pt"></span></span><ix:continuation id="f-1715-3" continuedAt="f-1715-4"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-1715-4" continuedAt="f-1715-5"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><ix:continuation id="f-1718-7" continuedAt="f-1718-8"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-8" continuedAt="f-1718-9"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-519" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1829">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-520" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1830">831,250</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-520" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1831">821,900</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-519" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1832">2.15</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-521" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1833">17</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-522" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1834">898,950</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-522" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1835">898,950</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-521" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1836">3.50</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-523" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1837">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-524" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1838">609,741</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-524" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1839">609,741</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-523" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1840">1.45</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-525" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1841">18</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-526" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1842">759,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-526" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1843">759,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-525" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1844">2.66</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-527" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1845">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-528" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1846">457,129</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-528" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1847">457,129</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-527" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1848">2.51</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-529" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1849">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-530" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1850">625,580</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-530" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1851">625,580</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-529" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1852">2.78</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-531" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1853">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-532" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1854">581,297</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-532" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1855">581,297</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-531" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1856">1.76</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-533" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1857">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-534" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1858">813,742</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-534" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1859">813,742</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-533" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1860">2.71</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-112" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1861">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1862">2,479,417</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1863">2,470,067</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-112" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1864">1.95</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-112" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1865">59</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1866">3,098,228</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1867">3,098,228</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-112" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1868">3.15</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$<ix:nonFraction unitRef="usd" contextRef="c-535" decimals="-5" name="us-gaap:InterestExpenseDebt" scale="6" id="f-1871">40.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$<ix:nonFraction unitRef="usd" contextRef="c-112" decimals="-5" name="us-gaap:InterestExpenseDebt" scale="6" id="f-1872">107.8</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">37<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1718-9" continuedAt="f-1718-10"><ix:continuation id="f-1715-5" continuedAt="f-1715-6"><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-536" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1873">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-537" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1874">785,453</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-537" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1875">785,442</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-536" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1876">1.39</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-538" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1877">22</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-539" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1878">952,764</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-539" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1879">952,764</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-538" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1880">2.95</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-540" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1881">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-541" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1882">552,664</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-541" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1883">552,663</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-540" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1884">1.92</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-542" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1885">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-543" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1886">743,914</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-543" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1887">743,914</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-542" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1888">2.92</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-544" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1889">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-545" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1890">598,850</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-545" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1891">598,851</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-544" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1892">1.50</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-546" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1893">12</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-547" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1894">855,725</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-547" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1895">855,725</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-546" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1896">2.79</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-548" decimals="INF" name="bxmt:LongTermDebtNumberOfLoans" scale="0" id="f-1897">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1898">1,936,967</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1899">1,936,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-548" decimals="4" name="bxmt:DebtSecuritizedObligationWeightedAverageCostOverVariableRate" scale="-2" id="f-1900">1.57</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-548" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1901">46</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1902">2,552,403</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1903">2,552,403</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-548" decimals="4" name="bxmt:SecuritizedDebtObligationsYieldRate" scale="-2" id="f-1904">2.98</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$<ix:nonFraction unitRef="usd" contextRef="c-549" decimals="-5" name="us-gaap:InterestExpenseDebt" scale="6" id="f-1907">40.6</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$<ix:nonFraction unitRef="usd" contextRef="c-113" decimals="-5" name="us-gaap:InterestExpenseDebt" scale="6" id="f-1908">123.9</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation><div style="position: absolute; top: 427.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_70"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 427.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">9. <span style="display: inline-block; height: 6.77pt"></span></span><ix:continuation id="f-1715-6" continuedAt="f-1715-7"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-1715-7" continuedAt="f-1715-8"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><ix:continuation id="f-1718-10" continuedAt="f-1718-11"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-11" continuedAt="f-1718-12"><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-114" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1909">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1910">629,890</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1911">627,916</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-114" decimals="4" name="bxmt:DebtAssetSpecificWeightedAverageCostOverVariableRate" scale="-2" id="f-1912">3.18</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-114" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1913">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1914">781,189</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1915">775,248</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-114" decimals="4" name="bxmt:DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" scale="-2" id="f-1916">4.52</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-550" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" scale="0" id="f-1917">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1918">1,228,110</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1919">1,224,841</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-550" decimals="4" name="bxmt:DebtAssetSpecificWeightedAverageCostOverVariableRate" scale="-2" id="f-1920">3.20</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-550" decimals="INF" name="bxmt:DebtInstrumentCollateralAmountNumberOfLoans" scale="0" id="f-1921">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="3" id="f-1922">1,467,185</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:DebtInstrumentCollateralAmount" format="ixt:num-dot-decimal" scale="3" id="f-1923">1,459,864</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-550" decimals="4" name="bxmt:DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" scale="-2" id="f-1924">4.03</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">38<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_73"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">10. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="bxmt:LoanParticipationsSoldDisclosureTextBlock" id="f-1927" continuedAt="f-1927-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">LOAN PARTICIPATIONS SOLD, NET<span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1927-1" continuedAt="f-1927-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The sale of a non-recourse interest in a loan through a participation agreement generally does not qualify for sale<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">accounting under GAAP. For such transactions, we therefore present the whole loan as an asset and the loan participation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">sold as a liability on our consolidated balance sheet until the loan is repaid. We generally have no obligation to pay<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">principal and interest under these liabilities, and the gross presentation of loan participations sold does not impact our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.24pt">stockholders&#8217; equity or net income.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">We did not have any loan participations sold as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261.06pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.28pt; position: var(--position); text-decoration: none; white-space: pre">. <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-1" name="bxmt:ScheduleOfLoanParticipationsSoldTableTextBlock" id="f-1928" continuedAt="f-1928-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.28pt; position: var(--position); text-decoration: none; white-space: pre">The following table details our loan participations <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-1928-1" continuedAt="f-1928-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">sold as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 99.31pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.85pt; position: var(--position); text-decoration: none; white-space: pre"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 164pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loan Participations Sold<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.12pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.55pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 43.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Junior Participations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Loan Participation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 94.06pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-551" decimals="INF" name="bxmt:NumberOfLoanParticipationsSold" scale="0" id="f-1929">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-296" decimals="-3" name="bxmt:LoanParticipationLiabilitiesPrincipalAmount" format="ixt:num-dot-decimal" scale="3" id="f-1930">100,064</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-296" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilitiesAmount" format="ixt:num-dot-decimal" scale="3" id="f-1931">100,064</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-296" decimals="4" name="bxmt:ParticipationsSoldLoanYield" scale="-2" id="f-1932">9.75</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="loan" contextRef="c-552" decimals="INF" name="bxmt:NumberOfLoanParticipationsSold" scale="0" id="f-1933">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-553" decimals="-3" name="bxmt:LoanParticipationsSoldTotalLoan" format="ixt:num-dot-decimal" scale="3" id="f-1934">442,142</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-553" decimals="-3" name="bxmt:LoanParticipationsSoldTotalLoanAmount" format="ixt:num-dot-decimal" scale="3" id="f-1935">442,008</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-553" decimals="4" name="bxmt:ParticipationsSoldLoanYield" scale="-2" id="f-1936">6.14</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 64.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 248.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">The weighted-average all-in yield and cost are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">SOFR and SONIA, as applicable. This non-debt participation sold structure is inherently matched in terms of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">currency and interest rate. In addition to cash coupon, yield/cost includes the amortization of deferred fees and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 302.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.71pt">financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">The term is determined based on the maximum maturity of the loan, assuming all extension options are exercised by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 325.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.71pt">the borrower. Our loan participations sold are inherently non-recourse and term-matched to the corresponding loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.6pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.67pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.91pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.72pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$<ix:nonFraction unitRef="usd" contextRef="c-554" decimals="-5" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="6" id="f-1937">1.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.51pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$<ix:nonFraction unitRef="usd" contextRef="c-555" decimals="-5" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="6" id="f-1938">6.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 348.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 338.19pt">respectively, of interest expense related to our loan participations sold. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.22pt">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.88pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation><ix:continuation id="f-1928-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360pt; width: 612pt"><ix:continuation id="f-1927-2"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">we recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-556" decimals="-5" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="6" id="f-1939">22.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.88pt"> of interest expense related to our loan participations sold<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 389.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_76"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">11. <span style="display: inline-block; height: 6.77pt"></span></span><ix:continuation id="f-1715-8" continuedAt="f-1715-9"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-1715-9" continuedAt="f-1715-10"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$<ix:nonFraction unitRef="usd" contextRef="c-557" decimals="-8" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="9" id="f-1940">1.0</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$<ix:nonFraction unitRef="usd" contextRef="c-558" decimals="-5" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="f-1941">453.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-559" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1942">3.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$<ix:nonFraction unitRef="usd" contextRef="c-560" decimals="-5" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="6" id="f-1943">400.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$<ix:nonFraction unitRef="usd" contextRef="c-561" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-1944">648.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-562" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1945">2.50</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-563" decimals="-5" name="us-gaap:RepaymentsOfLongTermDebt" format="ixt:num-dot-decimal" scale="6" id="f-1946">403.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><ix:continuation id="f-1718-12" continuedAt="f-1718-13"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-13" continuedAt="f-1718-14"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-564" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1947">309,268</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-565" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1948">309,268</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-566" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1949">2.36</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-567" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1950">2.53</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-568" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:fixed-zero" scale="3" id="f-1951">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-569" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1952">805,169</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-570" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1953">3.50</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-571" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1954">3.99</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-572" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:fixed-zero" scale="3" id="f-1955">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-573" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1956">650,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-574" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1957">3.75</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-575" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1958">4.27</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-557" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1959">1,045,754</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-576" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:fixed-zero" scale="3" id="f-1960">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-559" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1961">3.00</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-577" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1962">3.55</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-558" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1963">453,105</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-578" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:fixed-zero" scale="3" id="f-1964">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-562" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1965">2.50</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ <ix:nonFraction unitRef="number" contextRef="c-579" decimals="4" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-1966">3.05</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1967">1,808,127</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1968">1,764,437</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-1969">33,214</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-1970">32,364</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1971">1,774,913</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-1972">1,732,073</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-559" decimals="4" name="bxmt:DebtInstrumentVariableRateFloor" scale="-2" id="f-1973"><ix:nonFraction unitRef="number" contextRef="c-562" decimals="4" name="bxmt:DebtInstrumentVariableRateFloor" scale="-2" id="f-1974">0.50</ix:nonFraction></ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">39<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1715-10" continuedAt="f-1715-11"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-116" decimals="3" name="bxmt:DebtInstrumentAmortizationPercentage" scale="-2" id="f-1975">1.0</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-580" decimals="INF" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:fixed-zero" scale="0" id="f-1976">no</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$<ix:nonFraction unitRef="usd" contextRef="c-581" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-1977"><ix:nonFraction unitRef="usd" contextRef="c-582" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-1978">2.3</ix:nonFraction></ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-582" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-1979"><ix:nonFraction unitRef="number" contextRef="c-581" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-1980">99</ix:nonFraction></ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-582" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="0" id="f-1981"><ix:nonFraction unitRef="usd" contextRef="c-581" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="0" id="f-1982">25,000</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><ix:continuation id="f-1718-14" continuedAt="f-1718-15"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-15" continuedAt="f-1718-16"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-583" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-1983">32,898</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-584" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-1984">44,242</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-116" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-1985">101,041</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-117" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-1986">132,906</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-583" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-1987">2,266</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-584" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-1988">2,283</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-116" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-1989">8,381</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-117" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-1990">6,848</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-583" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-1991">35,164</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-584" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-1992">46,525</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-116" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-1993">109,422</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-117" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-1994">139,754</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt"><ix:nonFraction unitRef="number" contextRef="c-12" decimals="4" name="bxmt:DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" scale="-2" id="f-1995"><ix:nonFraction unitRef="number" contextRef="c-11" decimals="4" name="bxmt:DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" scale="-2" id="f-1996">83.33</ix:nonFraction></ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 287pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_79"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 287pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">12. <span style="display: inline-block; height: 6.77pt"></span></span><ix:continuation id="f-1715-11" continuedAt="f-1715-12"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-1715-12" continuedAt="f-1715-13"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><ix:continuation id="f-1718-16" continuedAt="f-1718-17"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-17" continuedAt="f-1718-18"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-585" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1997">335,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-586" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-1998">335,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)"><ix:nonFraction unitRef="number" contextRef="c-585" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="f-1999">3.75</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)"><ix:nonFraction unitRef="number" contextRef="c-585" decimals="4" name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" scale="-2" id="f-2000">4.06</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-587" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2001">450,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-588" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2002">450,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)"><ix:nonFraction unitRef="number" contextRef="c-587" decimals="INF" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="f-2003">7.75</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)"><ix:nonFraction unitRef="number" contextRef="c-587" decimals="4" name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" scale="-2" id="f-2004">8.14</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2005">785,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2006">785,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-2007">7,935</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-2008">9,857</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-2009">7,834</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" sign="-" name="us-gaap:HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-2010">4,424</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2011">785,215</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2012">771,035</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-118" decimals="INF" name="us-gaap:DebtInstrumentBasisSpreadOnVariableRate1" scale="-2" id="f-2013">3.95</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><ix:continuation id="f-1718-18" continuedAt="f-1718-19"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-1718-19"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-591" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2014">11,862</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-592" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2015">3,160</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-118" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2016">35,587</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-119" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2017">9,701</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-591" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2018">654</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-592" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2019">254</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-118" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" format="ixt:num-dot-decimal" scale="3" id="f-2020">2,003</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-119" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2021">775</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-591" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2022">12,516</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-592" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2023">3,414</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-118" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2024">37,590</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-119" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2025">10,476</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-580" decimals="INF" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:fixed-zero" scale="0" id="f-2026">no</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$<ix:nonFraction unitRef="usd" contextRef="c-593" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2027">4.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$<ix:nonFraction unitRef="usd" contextRef="c-594" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2028">30.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-593" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-2029">92</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-594" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-2030">88</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-592" decimals="-3" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="0" id="f-2031">330,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$<ix:nonFraction unitRef="usd" contextRef="c-594" decimals="-5" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="6" id="f-2032">3.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">40<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-1715-13" continuedAt="f-1715-14"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt"><ix:nonFraction unitRef="number" contextRef="c-590" decimals="4" name="bxmt:DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" scale="-2" id="f-2033"><ix:nonFraction unitRef="number" contextRef="c-589" decimals="4" name="bxmt:DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" scale="-2" id="f-2034">83.33</ix:nonFraction></ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt"><ix:nonFraction unitRef="number" contextRef="c-589" decimals="2" name="bxmt:DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" scale="0" id="f-2035">1.20</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 129.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_82"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">13. <span style="display: inline-block; height: 6.77pt"></span></span><ix:continuation id="f-1715-14" continuedAt="f-1715-15"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span></ix:continuation></div><ix:continuation id="f-1715-15" continuedAt="f-1715-16"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ConvertibleDebtTableTextBlock" id="f-2036" continuedAt="f-2036-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2036-1" continuedAt="f-2036-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-595" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2037">266,157</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-596" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2038">266,157</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-595" decimals="4" name="us-gaap:DebtInstrumentInterestRateStatedPercentage" scale="-2" id="f-2039">5.50</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-595" decimals="4" name="bxmt:DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" scale="-2" id="f-2040">5.79</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-595" decimals="2" name="us-gaap:DebtInstrumentConvertibleConversionPrice1" scale="0" id="f-2041">36.27</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-2042">1,694</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-3" name="us-gaap:DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" format="ixt:num-dot-decimal" scale="3" id="f-2043">2,541</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2044">264,463</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2045">263,616</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-3" decimals="2" name="us-gaap:SharePrice" scale="0" id="f-2046">18.41</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$<ix:nonFraction unitRef="usd" contextRef="c-599" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2047"><ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2048">33.8</ix:nonFraction></ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-121" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-2049"><ix:nonFraction unitRef="number" contextRef="c-599" decimals="2" name="bxmt:DebtInstrumentRepurchaseWeightedAveragePricePercentage" scale="-2" id="f-2050">93</ix:nonFraction></ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$<ix:nonFraction unitRef="usd" contextRef="c-599" decimals="-5" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="6" id="f-2051"><ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-5" name="us-gaap:GainsLossesOnExtinguishmentOfDebt" format="ixt:num-dot-decimal" scale="6" id="f-2052">2.0</ix:nonFraction></ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><ix:continuation id="f-2036-2" continuedAt="f-2036-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-2036-3"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-600" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2053">3,660</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-599" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2054">3,874</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-120" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2055">10,979</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-3" name="us-gaap:InterestExpenseDebtExcludingAmortization" format="ixt:num-dot-decimal" scale="3" id="f-2056">12,124</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-600" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2057">282</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-599" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2058">305</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-120" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2059">847</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-3" name="us-gaap:AmortizationOfFinancingCostsAndDiscounts" scale="3" id="f-2060">944</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-600" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2061">3,942</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-599" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2062">4,179</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-120" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2063">11,826</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-121" decimals="-3" name="us-gaap:InterestExpenseDebt" format="ixt:num-dot-decimal" scale="3" id="f-2064">13,068</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="0" id="f-2065">649,000</ix:nonFraction><span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$<ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-5" name="us-gaap:InterestPayableCurrentAndNoncurrent" format="ixt:num-dot-decimal" scale="6" id="f-2066">4.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651.55pt; width: 612pt"><ix:continuation id="f-1715-16"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 681.05pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_85"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 681.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">14. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" id="f-2068" continuedAt="f-2068-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">DERIVATIVE FINANCIAL INSTRUMENTS <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2068-1" continuedAt="f-2068-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The objective of our use of derivative financial instruments is to minimize the risks and/or costs associated with our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 710.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">investments and/or financing transactions. These derivatives may or may not qualify as net investment, cash flow, or fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 721.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">value hedges under the hedge accounting requirements of ASC 815 &#8211; &#8220;Derivatives and Hedging.&#8221; Derivatives not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">41<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2068-2" continuedAt="f-2068-3"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">designated as hedges are not speculative and are used to manage our exposure to interest rate movements and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.6pt">identified risks. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.46pt"> for further discussion of the accounting for designated and non-designated hedges.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The use of derivative financial instruments involves certain risks, including the risk that the counterparties to these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">contractual arrangements do not perform as agreed. To mitigate this risk, we only enter into derivative financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">instruments with counterparties that have appropriate credit ratings and are major financial institutions with which we and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 207.21pt">our affiliates also have other financial relationships.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Net Investment Hedges of Foreign Currency Risk<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Certain of our international investments expose us to fluctuations in foreign interest rates and currency exchange rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">These fluctuations may impact the value of our cash receipts and payments in terms of our functional currency, the U.S.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">dollar. We use foreign currency forward contracts to protect the value or fix the amount of certain investments or cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.28pt">flows in terms of the U.S. dollar.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges of Foreign Currency Risk <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 252pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" id="f-2069" continuedAt="f-2069-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">The following table details our outstanding foreign exchange derivatives that were designated as net investment hedges of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2069-1" continuedAt="f-2069-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.58pt">foreign currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 288.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"/></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 89.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-602" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2070">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="sek" contextRef="c-602" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2071">970,798</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-603" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2072">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="sek" contextRef="c-603" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2073">971,180</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-604" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2074">7</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-604" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2075">700,195</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-605" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2076">5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-605" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2077">604,739</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-606" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2078">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="eur" contextRef="c-606" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2079">657,309</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-607" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2080">8</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="eur" contextRef="c-607" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2081">603,910</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-608" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2082">8</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="aud" contextRef="c-608" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2083">383,504</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-609" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2084">6</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="aud" contextRef="c-609" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2085">355,703</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CAD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-610" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2086">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">C$<span style="display: inline-block; height: 6.93pt; width: 7.63pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="cad" contextRef="c-610" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2087">120,877</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-611" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2088">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 9.85pt"></span></span><span style="left: 31.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="chf" contextRef="c-611" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2089">6,752</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-612" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2090">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 108.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 22.35pt"></span></span><span style="left: 44.42pt; position: var(--position)"><ix:nonFraction unitRef="chf" contextRef="c-612" decimals="-3" name="us-gaap:DerivativeNotionalAmount" scale="3" id="f-2091">52</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 429.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges of Foreign Currency Risk<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 446.55pt; width: 612pt"><ix:continuation id="f-2069-2" continuedAt="f-2069-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details our outstanding foreign exchange derivatives that were non-designated hedges of foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-2069-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 186.22pt">currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 469.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 483.35pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 493.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 132pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"/></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 244.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 244.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 88.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 0pt; width: 246pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 132pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.97pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.55pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 12.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.47pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.14pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-613" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2092">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-613" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2093">109,300</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 33.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-614" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2094">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 33.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-614" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2095">54,400</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-615" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2096">4</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-615" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2097">109,300</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 48.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-616" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2098">3</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 48.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="gbp" contextRef="c-616" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2099">54,400</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy EUR / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-617" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2100">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="eur" contextRef="c-617" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2101">35,900</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-618" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2102">2</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="eur" contextRef="c-618" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2103">35,900</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy CHF / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-619" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2104">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="chf" contextRef="c-619" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2105">6,700</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-620" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2106">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="chf" contextRef="c-620" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2107">6,700</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 628.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Fair Value Hedges of Interest Rate Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 228.9pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.1pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Certain of our corporate financings expose us to fluctuations in the fair value of our outstanding fixed rate debt. We use<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">derivative financial instruments, which include interest rate swaps, to hedge interest rate risk associated with changes in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.1pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.79pt">fair value of our fixed rate debt. The changes in the value of the interest rate swap is recognized in earnings and offset the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 205.05pt">corresponding changes in the fair value of the debt.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">42<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2068-3" continuedAt="f-2068-4"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges of Interest Rate Risk&#160; <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfInterestRateDerivativesTableTextBlock" id="f-2108" continuedAt="f-2108-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">The following tables detail our outstanding interest rate derivatives that were designated as fair value hedges of interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2108-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.88pt">risk (notional amount in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"/></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-621" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2109">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-621" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2110">450,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-621" decimals="4" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="f-2111">3.81</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-622" name="us-gaap:DerivativeAverageRemainingMaturity1" format="ixt-sec:duryear" id="f-2112">4.2</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 184.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"/></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="derivative_instrument" contextRef="c-623" decimals="INF" name="us-gaap:DerivativeNumberOfInstrumentsHeld" scale="0" id="f-2113">1</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-623" decimals="-3" name="us-gaap:DerivativeNotionalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2114">450,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="number" contextRef="c-623" decimals="4" name="us-gaap:DerivativeFixedInterestRate" scale="-2" id="f-2115">3.81</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonNumeric contextRef="c-624" name="us-gaap:DerivativeAverageRemainingMaturity1" format="ixt-sec:duryear" id="f-2116">4.9</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" id="f-2117" continuedAt="f-2117-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">The following tables detail the carrying amount and cumulative basis adjustments on hedged items designated as fair value<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2117-1" continuedAt="f-2117-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.43pt">hedges ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 297pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"/></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:HedgedLiabilityFairValueHedge" format="ixt:num-dot-decimal" scale="3" id="f-2118">451,189</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 134.54pt"></span></span><span style="left: 142.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-2119">7,834</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 366.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"/></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:HedgedLiabilityFairValueHedge" format="ixt:num-dot-decimal" scale="3" id="f-2120">437,759</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 131.21pt"></span></span><span style="left: 138.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" sign="-" name="us-gaap:HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" format="ixt:num-dot-decimal" scale="3" id="f-2121">4,424</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 356.11pt">Financial Statement Impact of Hedges of Foreign Currency and Interest Rate Risks<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" id="f-2122" continuedAt="f-2122-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.42pt">The following table presents th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 369.57pt">e effect of our derivative financial instruments on our consolidated statements of operations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2122-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 471pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.18pt">($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 122.25pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 111pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 0pt; width: 264.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 264.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.39pt; position: var(--position); text-decoration: none; white-space: pre">Increase (Decrease) to Net Interest Income Recognized from Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 12.75pt; width: 130.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 130.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 25.5pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.41pt; position: var(--position); text-decoration: none; white-space: pre">Location of Income<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.09pt; position: var(--position); text-decoration: none; white-space: pre"> (Expense) Recognized<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 47.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-625" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2123">6,174</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-626" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2124">4,442</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-627" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2125">13,820</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-628" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2126">13,309</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 62.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.71pt"></span></span><span style="left: 41.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-629" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2127">674</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-630" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2128">399</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-631" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2129">1,884</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-632" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2130">1,244</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 77.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-633" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2131">46</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-634" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2132">22</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-635" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2133">96</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-636" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2134">32</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 92.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.04pt"></span></span><span style="left: 49.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-637" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2135">39</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-638" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2136">14</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-639" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2137">2,129</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.71pt"></span></span><span style="left: 51.34pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-640" decimals="-3" sign="-" name="us-gaap:DerivativeGainLossOnDerivativeNet" scale="3" id="f-2138">7</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 107.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-641" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2139">5,493</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-642" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2140">4,805</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-643" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2141">9,711</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-644" decimals="-3" name="us-gaap:DerivativeGainLossOnDerivativeNet" format="ixt:num-dot-decimal" scale="3" id="f-2142">14,514</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 609.32pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Represents the forward points earned on our foreign currency forward contracts, which reflect the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 632.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">differentials between the applicable base rate for our foreign currency investments and prevailing U.S. interest rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.21pt">These forward contracts effectively convert the foreign currency rate exposure for such investments to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 655.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.67pt">USD-equivalent interest rates.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Represents the financial statement impact of proceeds (payments) from periodic settlements related to our interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 678.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.5pt">rate swap.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 689.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.35pt">Represents the realized loss on an interest rate swap related to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.96pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.61pt"> that was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 701.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.64pt">entered into and subsequently terminated during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.65pt"> three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.52pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.17pt">, and the spot rate movement<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 712.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.37pt">in our non-designated foreign currency hedges, which are marked to market and recognized in interest expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">43<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2068-4" continuedAt="f-2068-5"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.03pt">Fair Value Hedges<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><ix:continuation id="f-2117-2" continuedAt="f-2117-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.68pt">The following table presents the net gains <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.91pt">(losses) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.36pt">on derivatives and the related hedged items in fair value hedging<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-2117-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.88pt">relationships fo<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.53pt">r the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.83pt"> (<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.85pt">$ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 490.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 320.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.71pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest and related expenses presented in the consolidated statements of <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">operations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 21pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-2143">247,055</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 21pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.79pt"></span></span><span style="left: 44.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:InterestExpenseOperating" format="ixt:num-dot-decimal" scale="3" id="f-2144">754,015</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Gains (losses) on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Total gain on derivative instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 62.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" scale="3" id="f-2145">486</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 62.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" format="ixt:num-dot-decimal" scale="3" id="f-2146">12,774</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Fair value basis adjustment on hedged items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 77.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 61.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" sign="-" name="us-gaap:ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" scale="3" id="f-2147">494</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 77.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.21pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" format="ixt:num-dot-decimal" scale="3" id="f-2148">7,834</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Derivative settlements and accruals<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 92.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" scale="3" id="f-2149">674</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 92.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.87pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" format="ixt:num-dot-decimal" scale="3" id="f-2150">2,116</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); white-space: pre">Net gain on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 194.99pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 107.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:GainLossOnFairValueHedgesRecognizedInEarnings" scale="3" id="f-2151">666</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 107.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 54.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:GainLossOnFairValueHedgesRecognizedInEarnings" format="ixt:num-dot-decimal" scale="3" id="f-2152">7,056</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 249.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.96pt">Included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.46000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.92pt"> within interest and related expenses presented in the consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 272.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.37pt">There were no fair value hedges outstanding during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 281.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.28pt">Valuation and Other Comprehensive Income<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.25pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" id="f-2153" continuedAt="f-2153-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.51pt">The following table summarizes the fair value of our derivative financial instruments ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2153-1"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 336.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 222pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 222pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.14pt; position: var(--position); white-space: pre">Fair Value of Derivatives in an Asset<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 40.07pt; position: var(--position); white-space: pre"> Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 69.6pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 75.66pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.46pt; position: var(--position); white-space: pre">Fair Value of Derivatives in a <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.41pt; position: var(--position); white-space: pre">Liability Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 84.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-645" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2154">9,867</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-646" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2155">69,433</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-645" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2156">2,296</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-646" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2157">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-647" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2158">7,885</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-648" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2159">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-647" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2160">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-648" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2161">4,386</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-649" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2162">17,752</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-650" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2163">69,433</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-649" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2164">2,296</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-650" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2165">4,386</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives not designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-651" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2166">1,753</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-652" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2167">3,021</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-651" decimals="-3" name="us-gaap:DerivativeLiabilities" scale="3" id="f-2168">261</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-652" decimals="-3" name="us-gaap:DerivativeLiabilities" scale="3" id="f-2169">852</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-653" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2170">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-654" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2171">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-653" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2172">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-654" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2173">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives not designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-655" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2174">1,753</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-656" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2175">3,021</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-655" decimals="-3" name="us-gaap:DerivativeLiabilities" scale="3" id="f-2176">261</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-656" decimals="-3" name="us-gaap:DerivativeLiabilities" scale="3" id="f-2177">852</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2178">19,505</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2179">72,454</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2180">2,557</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2181">5,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 542pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.55pt">Included in other assets in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.39pt">Included in other liabilities in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">44<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2068-5"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock" id="f-2182" continuedAt="f-2182-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table presents the effect of our derivative financial instruments on our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2182-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.11pt">comprehensive income and operations ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 281.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 114.75pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 126.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 93pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60.75pt"/></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 126.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.3pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.19pt; position: var(--position); white-space: pre">Amount of Gain (Loss) Recognized in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.49pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.16pt; position: var(--position); white-space: pre">OCI on Derivatives<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 104.33pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 0pt; width: 93pt"><div><div style="line-height: 8pt; position: var(--position); top: 35.8pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.19pt; position: var(--position); text-decoration: none; white-space: pre">Location of Gain (Loss) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 44.99pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.3pt; position: var(--position); text-decoration: none; white-space: pre">Reclassified<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.87pt; position: var(--position); text-decoration: none; white-space: pre">from Accumulated OCI <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.18pt; position: var(--position); text-decoration: none; white-space: pre">into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 0pt; width: 120.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre">Amount of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.86pt; position: var(--position); text-decoration: none; white-space: pre">Gain (Loss) Reclassified from<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.87pt; position: var(--position); text-decoration: none; white-space: pre"> Accumulated OCI into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 32.25pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.81pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.02pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 32.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.53pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.52pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 32.25pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.94pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.15pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.25pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 32.25pt; width: 60.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.27pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Net Investment Hedges<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 72pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 116.9pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 86.25pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" format="ixt:num-dot-decimal" scale="3" id="f-2183">25,174</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="us-gaap:OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" format="ixt:num-dot-decimal" scale="3" id="f-2184">178,488</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 86.25pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 30.69pt; position: var(--position); text-decoration: none; white-space: pre">Interest Expense<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 86.25pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" format="ixt:fixed-zero" scale="3" id="f-2185">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 86.25pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" format="ixt:fixed-zero" scale="3" id="f-2186">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 100.5pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" format="ixt:num-dot-decimal" scale="3" id="f-2187">25,174</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" sign="-" name="bxmt:OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" format="ixt:num-dot-decimal" scale="3" id="f-2188">178,488</ix:nonFraction>)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 100.5pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 100.5pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" format="ixt:fixed-zero" scale="3" id="f-2189">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 100.5pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" format="ixt:fixed-zero" scale="3" id="f-2190">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 195.86pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.01pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.38pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.91pt">, we <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.1pt"> net cash settlements of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.73pt">$<ix:nonFraction unitRef="usd" contextRef="c-657" decimals="-5" name="us-gaap:PaymentsForDerivativeInstrumentInvestingActivities" format="ixt:num-dot-decimal" scale="6" id="f-2191">68.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.33pt"> on our foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 217.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.06pt">currency forward contracts. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 250.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.25pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.88pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.91pt">, we <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.72pt"> net cash settlements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.94pt">$<ix:nonFraction unitRef="usd" contextRef="c-658" decimals="-5" name="bxmt:PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" format="ixt:num-dot-decimal" scale="6" id="f-2192">102.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.87pt"> on our foreign currency forward contracts.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.07pt"> Those amounts are included as a component of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 312.09pt">accumulated other comprehensive income on our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.95pt">There were no cash flow hedges outstanding during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 293.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.35pt">Credit&#8211;Risk Related Contingent Features<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 235.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">We have entered into agreements with certain of our derivative counterparties that contain provisions where if we were to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 322.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 333.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">lender, we may also be declared in default on our derivative obligations. In addition, certain of our agreements with our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.29pt">derivative counterparties require that we post collateral to secure net liability positions. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.6pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.72pt">, we were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.05pt">in a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.41pt">asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.53pt"> position with one of our counterparties and in a net liability position with our other counterparty related to our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 368.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.54pt">foreign exchange hedges and had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:CollateralAlreadyPostedAggregateFairValue" format="ixt:fixed-zero" scale="6" id="f-2193">no</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 195.79pt"> collateral posted with our counterparties. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.28pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.31pt">, we were in a net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 345.83pt">asset position with our counterparties related to our foreign exchange hedges and had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.05pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:CollateralAlreadyPostedAggregateFairValue" format="ixt:num-dot-decimal" scale="6" id="f-2194">4.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.11pt"> of collateral posted with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.07pt">one counterparty related to our interest rate swap.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 420.86pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_88"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 420.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">15. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock" id="f-2195" continuedAt="f-2195-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">EQUITY<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 112.92pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2195-1" continuedAt="f-2195-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 438.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Stock and Stock Equivalents <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 455.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Authorized Capital <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 473.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.3pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.08pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.24pt"> we had the authority to issue up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="bxmt:CommonAndPreferredStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-2196">500,000,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 129.32pt"> shares of stock, consisting of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:CommonStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-2197">400,000,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 484.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.32pt">shares of class A common stock and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:PreferredStockSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-2198">100,000,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 278.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.63pt"> shares of preferred stock. Subject to applicable NYSE listing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 496.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">requirements, our board of directors is authorized to cause us to issue additional shares of authorized stock without<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">stockholder approval. In addition, to the extent not issued, currently authorized stock may be reclassified between class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 519.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.82pt">common stock and preferred stock. As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.91pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.02pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.14pt">, we did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="us-gaap:PreferredStockSharesOutstanding" format="ixt:fixed-zero" scale="0" id="f-2199"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:PreferredStockSharesIssued" format="ixt:fixed-zero" scale="0" id="f-2200"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="us-gaap:PreferredStockSharesOutstanding" format="ixt:fixed-zero" scale="0" id="f-2201"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="us-gaap:PreferredStockSharesIssued" format="ixt:fixed-zero" scale="0" id="f-2202">not</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.55pt"> have any shares of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 156.24pt">preferred stock issued and outstanding.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 214.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 560.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Share Repurchase Program<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.3pt">In July 2024, our board of directors authorized the repurchase of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.02pt">$<ix:nonFraction unitRef="usd" contextRef="c-659" decimals="-5" name="srt:StockRepurchaseProgramAuthorizedAmount1" scale="6" id="f-2203">150.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.52pt"> of our class A common stock. Under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 589.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">transactions, in agreements and arrangements structured in a manner consistent with Rules 10b-18 and 10b5-1 under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 612.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Exchange Act or otherwise. The timing and the actual amounts repurchased will depend on a variety of factors, including<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.42pt">discontinued at any time and does not have a specified expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">45<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2195-2" continuedAt="f-2195-3"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.26pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.23pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.37pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.53pt">, we repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="f-2204">2,653,583</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.58pt"> shares of class A common stock at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.18pt">weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-3" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" scale="0" id="f-2205">17.97</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.61pt">, for a total cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.78999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="6" id="f-2206">47.7</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.95pt"> During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.11pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.03pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.62pt"> we repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="f-2207">628,884</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 301.35pt"> shares of class A common stock at a weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-109" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" scale="0" id="f-2208">17.49</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.03pt">, for a total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.82pt">cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.55pt">$<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-5" name="us-gaap:StockRepurchasedDuringPeriodValue" scale="6" id="f-2209">11.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.54pt">. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 296.38pt">, the amount remaining available for repurchases under the program was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.75pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" scale="6" id="f-2210">73.1</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.9pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.1pt">In October 2025, we repurchased an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-660" decimals="INF" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="f-2211">3,336,416</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.17pt"> shares of class A common stock at a weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 118.43pt">average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$<ix:nonFraction unitRef="usdPerShare" contextRef="c-661" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" scale="0" id="f-2212">18.38</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.05pt">, for a total cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.4pt">$<ix:nonFraction unitRef="usd" contextRef="c-660" decimals="-5" name="us-gaap:StockRepurchasedDuringPeriodValue" format="ixt:num-dot-decimal" scale="6" id="f-2213">61.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.5pt">, such that the amount remaining available for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.07pt">repurchases under the program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.06pt">$<ix:nonFraction unitRef="usd" contextRef="c-661" decimals="-5" name="us-gaap:StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1" format="ixt:num-dot-decimal" scale="6" id="f-2214">11.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.79pt">. Following these repurchases, our board of directors amended the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 134.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 369.55pt">program, such that, as of the date of this filing, we are authorized to repurchase up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.48pt">$<ix:nonFraction unitRef="usd" contextRef="c-661" decimals="-5" name="srt:StockRepurchaseProgramAuthorizedAmount1" format="ixt:num-dot-decimal" scale="6" id="f-2215">150.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.81pt"> of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.26pt">common stock under the program, as amended.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.88pt">Class A Common Stock and Deferred Stock Units<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 256.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Holders of shares of our class A common stock are entitled to vote on all matters submitted to a vote of stockholders and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">are entitled to receive dividends authorized by our board of directors and declared by us, in all cases subject to the rights of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.61pt">the holders of shares of outstanding preferred stock, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.77pt">We also issue restricted class A common stock under our stock-based incentive plans. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.06pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.13pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">discussion of these long-term incentive plans. In addition to our class A common stock, we also issue deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">to certain members of our board of directors for services rendered. These deferred stock units are non-voting, but carry the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">right to receive dividends in the form of additional deferred stock units in an amount equivalent to the cash dividends paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">to holders of shares of class A common stock. Each vested deferred stock unit is settled by delivery of one share of class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.96pt">common stock upon the non-employee director&#8217;s separation from service.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" id="f-2216" continuedAt="f-2216-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The following table details the movement in our outstanding shares of class A common stock, including restricted class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2216-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 159.56pt">common stock and deferred stock units:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 343.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 348pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Common Stock Outstanding<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 99.88pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Beginning balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-4" decimals="INF" name="bxmt:CommonStockSharesOutstandingIncludingDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2217">173,204,190</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-69" decimals="INF" name="bxmt:CommonStockSharesOutstandingIncludingDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2218">173,569,397</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 140.54999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="f-2219">1,778</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="0" id="f-2220">4,647</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 58.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Repurchase of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="f-2221">2,653,583</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockRepurchasedDuringPeriodShares" format="ixt:num-dot-decimal" scale="0" id="f-2222">628,884</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 73.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of restricted class A common stock, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 197.4pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" format="ixt:num-dot-decimal" scale="0" id="f-2223">467,180</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" format="ixt:num-dot-decimal" scale="0" id="f-2224">401,901</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 88.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Issuance of deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="bxmt:StockIssuedDuringPeriodSharesDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2225">32,165</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="bxmt:StockIssuedDuringPeriodSharesDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2226">42,338</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 103.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Ending balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="bxmt:CommonStockSharesOutstandingIncludingDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2227">171,051,730</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-109" decimals="INF" name="bxmt:CommonStockSharesOutstandingIncludingDeferredStockUnits" format="ixt:num-dot-decimal" scale="0" id="f-2228">173,389,399</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 467pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.04pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-662" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2229">331,611</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.81pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-663" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2230">401,802</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.63pt"> deferred stock units held by members of our board of directors as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.41pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.66pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.23pt">shares issued under our dividend reinvestment program during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.83pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.24pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.74000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt"><ix:nonFraction unitRef="shares" contextRef="c-664" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" format="ixt:num-dot-decimal" scale="0" id="f-2231">29,140</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.21pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt"><ix:nonFraction unitRef="shares" contextRef="c-665" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" format="ixt:num-dot-decimal" scale="0" id="f-2232">41,282</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 354.41pt"> shares of restricted class A common stock issued to our board of directors during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.25pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.67pt">Net of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" format="ixt:num-dot-decimal" scale="0" id="f-2233">43,832</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.39pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.96pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" format="ixt:num-dot-decimal" scale="0" id="f-2234">102,484</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.93pt"> shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.98pt"> of restricted class A common stock forfeited under our stock-based incentive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.89pt">plans during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 587pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Dividend Reinvestment and Direct Stock Purchase Plan <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 604.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.5pt">We have adopted a dividend reinvestment and direct stock purchase plan under which an aggregate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="bxmt:DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-2235">10,000,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.48pt"> shares of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock are available for sale. Under the dividend reinvestment component of the plan, our class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">stockholders can designate all or a portion of their cash dividends to be reinvested in additional shares of class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">stock. Such shares may, at our option, be newly issued shares from us, shares purchased by the plan administrator on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">open market, or a combination thereof. The direct stock purchase component of the plan allows stockholders and new<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 662pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 445.04pt">investors, subject to our approval, to purchase shares of class A common stock directly from us. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.88pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.54pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.75pt">, we issued <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="f-2236">1,778</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.74pt"> shares of class A common stock and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 15pt"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesDividendReinvestmentPlan" scale="0" id="f-2237">652</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.18pt"> shares of class A common stock were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 685pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">purchased on the open market by the plan administrator under the dividend reinvestment component of the plan. During the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.78pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.78pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.47pt">, we issued <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesDividendReinvestmentPlan" format="ixt:num-dot-decimal" scale="0" id="f-2238">4,647</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.31pt"> shares of class A common stock under the dividend reinvestment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.09pt">component of the plan. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.68pt">, a total of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.83000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-3" decimals="INF" name="bxmt:DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" format="ixt:num-dot-decimal" scale="0" id="f-2239">9,966,682</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.54pt"> shares of class A common stock remained available<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 719.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 254.98pt">under the dividend reinvestment and direct stock purchase plan.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2195-3" continuedAt="f-2195-4"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">At the Market Stock Offering Program <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.66pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.19pt">, we are party to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt"><ix:nonFraction unitRef="agreement" contextRef="c-1" decimals="INF" name="bxmt:SaleOfStockNumberOfEquityDistributionAgreements" format="ixt-sec:numwordsen" scale="0" id="f-2240">seven</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.93pt"> equity distribution agreements, or ATM Agreements, pursuant to which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 271.71pt">we may sell, from time to time, up to an aggregate sales price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.75pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="bxmt:SaleOfStockMaximumAuthorizedAmount" scale="6" id="f-2241">699.1</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.46pt"> of our class A common stock. Sales of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">class A common stock made pursuant to our ATM Agreements may be made in negotiated transactions or transactions that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">are deemed to be &#8220;at the market&#8221; offerings as defined in Rule 415 under the Securities Act of 1933, as amended. Actual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sales depend on a variety of factors including market conditions, the trading price of our class A common stock, our capital<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 368.54pt">needs, and our determination of the appropriate sources of funding to meet such needs. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.22pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.11pt"> or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 84pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.09pt">, we did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" format="ixt:fixed-zero" scale="0" id="f-2242"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" format="ixt:fixed-zero" scale="0" id="f-2243">no</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.76pt">t issue any shares of our class A common stock under ATM<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.55pt">Agreements. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.67pt">, shares of our class A common stock with an aggregate sales price of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 163.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:SaleOfStockRemainingAuthorizedAmount" format="ixt:num-dot-decimal" scale="6" id="f-2244">480.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.71pt"> remained available for issuance and sale under our ATM Agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; text-decoration: none; white-space: pre"><span style="left: 58.5pt; position: var(--position); width: 45.26pt">Dividends <span style="display: inline-block; height: 6.77pt; width: 26.74pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">We generally intend to distribute substantially all of our taxable income, which does not necessarily equal net income as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">calculated in accordance with GAAP, to our stockholders each year to comply with the REIT provisions of the Internal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Revenue Code of 1986, as amended, or the Internal Revenue Code. Our dividend policy remains subject to revision at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">discretion of our board of directors. All distributions will be made at the discretion of our board of directors and will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">depend upon our taxable income, our financial condition, our maintenance of REIT status, applicable law, and other factors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.87pt">as our board of directors deems relevant.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.8pt">On <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.8pt">September 15,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.58pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.18pt">, we declared a dividend of $<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-2245">0.47</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.99pt"> per share, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-5" name="us-gaap:DividendsCommonStock" scale="6" id="f-2246">80.2</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.86pt"> in aggregate, that was paid on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 521.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">October<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35pt">15, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 126.28pt"> to stockholders of record as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:DividendsDeclaredTableTextBlock" id="f-2247" continuedAt="f-2247-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.59pt">The following ta<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.21pt">ble details our dividend activity ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2247-1"><div style="position: var(--position); top: 349.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared per share of common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-2248">0.47</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-2249">0.47</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-1" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-2250">1.41</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-17" decimals="2" name="us-gaap:CommonStockDividendsPerShareDeclared" scale="0" id="f-2251">1.71</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Class A common stock dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-666" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-2252">80,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-667" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-2253">81,306</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-668" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-2254">241,531</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-669" decimals="-3" name="us-gaap:DividendsCommonStock" format="ixt:num-dot-decimal" scale="3" id="f-2255">296,624</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred stock unit dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:DividendsShareBasedCompensation" scale="3" id="f-2256">143</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:DividendsShareBasedCompensation" scale="3" id="f-2257">241</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:DividendsShareBasedCompensation" scale="3" id="f-2258">483</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:DividendsShareBasedCompensation" scale="3" id="f-2259">694</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Total dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-2260">80,381</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-2261">81,547</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-2262">242,014</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:Dividends" format="ixt:num-dot-decimal" scale="3" id="f-2263">297,318</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 458pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Earnings Per Share<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">We calculate our basic and diluted earnings per share using the two-class method for all periods presented as the unvested<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">shares of our restricted class A common stock qualify as participating securities, as defined by GAAP. These restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">shares have the same rights as our other shares of class A common stock, including participating in any dividends, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">therefore have been included in our basic and diluted net income per share calculation. The shares issuable under our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Convertible Notes are included in dilutive earnings per share using the if-converted method when the effect is not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.98pt">antidilutive.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">47<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2195-4"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" id="f-2264" continuedAt="f-2264-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 126.58pt"> following table sets forth the c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.8pt">alculation of basic and diluted net income per share of class A common stock based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2264-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">the weighted-average of both restricted and unrestricted class A common stock outstanding ($ in thousands, except per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.31pt">share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Basic and Diluted Earnings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 81.66pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="f-2265">63,397</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.21pt"></span></span><span style="left: 34.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" sign="-" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="f-2266">56,384</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="f-2267">70,009</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" sign="-" name="us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic" format="ixt:num-dot-decimal" scale="3" id="f-2268">241,279</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Weighted-average shares outstanding, basic and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">diluted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-15" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-2269"><ix:nonFraction unitRef="shares" contextRef="c-15" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2270">171,812,685</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-16" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-2271"><ix:nonFraction unitRef="shares" contextRef="c-16" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2272">173,637,101</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2273"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-2274">171,903,127</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="0" name="us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2275"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="0" name="us-gaap:WeightedAverageNumberOfSharesOutstandingBasic" format="ixt:num-dot-decimal" scale="0" id="f-2276">173,881,116</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Per share amount, basic and diluted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-2277"><ix:nonFraction unitRef="usdPerShare" contextRef="c-15" decimals="2" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-2278">0.37</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(<ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" sign="-" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-2279"><ix:nonFraction unitRef="usdPerShare" contextRef="c-16" decimals="2" sign="-" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-2280">0.32</ix:nonFraction></ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-1" decimals="2" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-2281"><ix:nonFraction unitRef="usdPerShare" contextRef="c-1" decimals="2" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-2282">0.41</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(<ix:nonFraction unitRef="usdPerShare" contextRef="c-17" decimals="2" sign="-" name="us-gaap:EarningsPerShareBasic" scale="0" id="f-2283"><ix:nonFraction unitRef="usdPerShare" contextRef="c-17" decimals="2" sign="-" name="us-gaap:EarningsPerShareDiluted" scale="0" id="f-2284">1.39</ix:nonFraction></ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 196.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 206.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.33pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.81pt">net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.32pt"> attributable to Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 218pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.96pt">For both the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.39pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 255.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.46000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.51pt">, our Convertible Notes were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 229.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="shares" contextRef="c-17" decimals="INF" name="us-gaap:IncrementalCommonSharesAttributableToConversionOfDebtSecurities" format="ixt:fixed-zero" scale="0" id="f-2285"><ix:nonFraction unitRef="shares" contextRef="c-1" decimals="INF" name="us-gaap:IncrementalCommonSharesAttributableToConversionOfDebtSecurities" format="ixt:fixed-zero" scale="0" id="f-2286"><ix:nonFraction unitRef="shares" contextRef="c-15" decimals="INF" name="us-gaap:IncrementalCommonSharesAttributableToConversionOfDebtSecurities" format="ixt:fixed-zero" scale="0" id="f-2287"><ix:nonFraction unitRef="shares" contextRef="c-16" decimals="INF" name="us-gaap:IncrementalCommonSharesAttributableToConversionOfDebtSecurities" format="ixt:fixed-zero" scale="0" id="f-2288">no</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.17pt">t included in the calculation of diluted earnings per share, as the impact is antidilutive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.98pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.93pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.87pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 241pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.82pt">discussion of our convertible notes.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 270.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Other Balance Sheet Items<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 288pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 174.52pt">Accumulated Other Comprehensive Income<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 233.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 305.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.16pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.67pt">, total accumulated other comprehensive income was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.21pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="6" id="f-2289">9.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.6pt">, representing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.21pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:AociLossCashFlowHedgeCumulativeGainLossAfterTax" format="ixt:num-dot-decimal" scale="6" id="f-2290">93.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.19pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 428.68pt">net realized and unrealized gains related to changes in the fair value of derivative instruments, offset by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.59pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" sign="-" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" format="ixt:num-dot-decimal" scale="6" id="f-2291">82.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.57pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">cumulative unrealized currency translation adjustments on assets and liabilities denominated in foreign currencies and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.54pt">$<ix:nonFraction unitRef="usd" contextRef="c-670" decimals="-5" sign="-" name="us-gaap:AociLossCashFlowHedgeCumulativeGainLossAfterTax" format="ixt:num-dot-decimal" scale="6" id="f-2292">1.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 445.36pt"> of unrealized losses related to the changes in the fair value of derivative instruments held by unconsolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 351.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.48pt">entities. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.97999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.68pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 214.64pt">, total accumulated other comprehensive income was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.92pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossNetOfTax" format="ixt:num-dot-decimal" scale="6" id="f-2293">8.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.19pt">, primarily representing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.46pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="us-gaap:AociLossCashFlowHedgeCumulativeGainLossAfterTax" format="ixt:num-dot-decimal" scale="6" id="f-2294">272.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 435.41pt"> of net realized and unrealized gains related to changes in the fair value of derivative instruments offset by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 374.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.66pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" sign="-" name="us-gaap:AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" format="ixt:num-dot-decimal" scale="6" id="f-2295">263.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 435.25pt"> of cumulative unrealized currency translation adjustments on assets and liabilities denominated in foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.54pt">currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 415.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.52pt">Non-Controlling Interests<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 162.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">The non-controlling interests included on our consolidated balance sheets represent the equity interests in our Multifamily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 444.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Joint Venture that are not owned by us. A portion of our Multifamily Joint Venture&#8217;s consolidated equity and results of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">operations are allocated to these non-controlling interests based on their pro rata ownership of our Multifamily Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 467.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.86pt">Venture. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.82pt">, our Multifamily Joint Venture&#8217;s total equity was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$<ix:nonFraction unitRef="usd" contextRef="c-671" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2296">44.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.99pt">, of which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$<ix:nonFraction unitRef="usd" contextRef="c-672" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2297">38.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.61pt">was owned by us, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.47pt">$<ix:nonFraction unitRef="usd" contextRef="c-673" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2298">6.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 201.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.69pt"> was allocated to non-controlling interests. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.78pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.34pt">, our Multifamily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.13pt">Joint Venture&#8217;s total equity was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$<ix:nonFraction unitRef="usd" contextRef="c-674" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2299">45.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.68pt">, of which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$<ix:nonFraction unitRef="usd" contextRef="c-675" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2300">39.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.06pt">was owned by us, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.16pt">$<ix:nonFraction unitRef="usd" contextRef="c-676" decimals="-5" name="us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" format="ixt:num-dot-decimal" scale="6" id="f-2301">6.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.96pt">was allocated to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 502pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.45pt">non-controlling interests.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 531.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_94"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 531.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">16. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock" id="f-2302" continuedAt="f-2302-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">OTHER EXPENSES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2302-1" continuedAt="f-2302-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Our other expenses consist of the management and incentive fees we pay to our Manager and our general and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.2pt">administrative expenses.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 590pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Management and Incentive Fees<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 191.5pt">Pursuant to a management agreement between <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 250pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.47pt">our Manager and us, or our Management Agreement, our Manager earns a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 619pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 186.02pt">base management fee in an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-1" decimals="4" name="us-gaap:ManagementAndServiceFeesRate" scale="-2" id="f-2303">1.50</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 270.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.04pt"> per annum multiplied by our Equity, as defined in the Management<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 630.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.14pt">Agreement. In addition, our Manager is entitled to an incentive fee in an amount equal to the product of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-1" decimals="2" name="us-gaap:ManagementAndServiceFeesIncentiveRate" scale="-2" id="f-2304">20</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.51pt"> and (ii)&#160;the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">excess of (a)&#160;our Core Earnings (as defined in our Management Agreement) for the previous 12-month period over (b)&#160;an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.65pt">amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt"><ix:nonFraction unitRef="number" contextRef="c-3" decimals="4" name="bxmt:ManagementFeeCoreEarningsFeePercentage" scale="-2" id="f-2305">7.00</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.98000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.04pt"> per annum multiplied by our Equity, provided that our Core Earnings over the prior <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-1" name="bxmt:ManagementFeeCoreEarningsMeasurementPeriod" format="ixt-sec:durwordsen" id="f-2306"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 513.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.52pt">-year<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.95pt">period is greater than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt"><ix:nonFraction unitRef="number" contextRef="c-1" decimals="INF" name="bxmt:ManagementFeeCoreEarningsMinimumThreshold" format="ixt:fixed-zero" scale="0" id="f-2307">zero</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.72pt">. Core Earnings, as defined in our Management Agreement, is generally equal to our GAAP net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">income (loss), including realized gains and losses not otherwise recognized in current period GAAP net income (loss), and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">excluding (i)&#160;non-cash equity compensation expense, (ii)&#160;depreciation and amortization, (iii)&#160;unrealized gains (losses), (iv)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.01pt">net income (loss) attributable to our legacy portfolio, (v)&#160;certain non-cash items, and (vi)&#160;incentive management fees.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">48<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2302-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.86pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.93pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.29000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.3pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.45pt">, we incurred <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.02pt">$<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-5" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="6" id="f-2308">16.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.1pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.67pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.02pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="6" id="f-2309">51.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.92pt">, respectively, of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 233.86pt">management fees payable to our Manager compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.34pt">$<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-5" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="6" id="f-2310">18.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.41pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.34pt">$<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-5" name="us-gaap:ManagementFeeExpense" format="ixt:num-dot-decimal" scale="6" id="f-2311">56.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.03pt">, respectively, during the same<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.42pt">periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.81pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.72999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.72999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.02pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.56pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.63pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.85pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.78999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.67pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.81pt"> did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"><ix:nonFraction unitRef="usd" contextRef="c-677" decimals="INF" name="us-gaap:IncentiveFeeExpense" format="ixt:fixed-zero" scale="6" id="f-2312"><ix:nonFraction unitRef="usd" contextRef="c-678" decimals="INF" name="us-gaap:IncentiveFeeExpense" format="ixt:fixed-zero" scale="6" id="f-2313"><ix:nonFraction unitRef="usd" contextRef="c-679" decimals="INF" name="us-gaap:IncentiveFeeExpense" format="ixt:fixed-zero" scale="6" id="f-2314"><ix:nonFraction unitRef="usd" contextRef="c-680" decimals="INF" name="us-gaap:IncentiveFeeExpense" format="ixt:fixed-zero" scale="6" id="f-2315">not</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 455.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.72pt"> incu<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 78pt">r any incentive fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.67pt">payable to our Manager.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.38pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 272.44pt">, we had accrued management fees payable to our Manager of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="bxmt:AccruedManagementAndIncentiveFeesPayable" format="ixt:num-dot-decimal" scale="6" id="f-2316">16.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-5" name="bxmt:AccruedManagementAndIncentiveFeesPayable" format="ixt:num-dot-decimal" scale="6" id="f-2317">18.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">General and Administrative Expenses<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" id="f-2318" continuedAt="f-2318-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.01pt">General and admin<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.98pt">istrative expenses consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2318-1"><div style="position: var(--position); top: 182pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Professional services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ProfessionalFees" format="ixt:num-dot-decimal" scale="3" id="f-2319">3,351</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:ProfessionalFees" format="ixt:num-dot-decimal" scale="3" id="f-2320">3,753</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ProfessionalFees" format="ixt:num-dot-decimal" scale="3" id="f-2321">11,543</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ProfessionalFees" format="ixt:num-dot-decimal" scale="3" id="f-2322">11,709</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating and other costs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:OtherGeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2323">2,094</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:OtherGeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2324">1,686</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:OtherGeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2325">5,824</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:OtherGeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2326">5,044</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 53.3pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="3" id="f-2327">5,445</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="3" id="f-2328">5,439</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="3" id="f-2329">17,367</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="3" id="f-2330">16,753</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-cash compensation expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock earned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:RestrictedStockExpense" format="ixt:num-dot-decimal" scale="3" id="f-2331">7,130</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:RestrictedStockExpense" format="ixt:num-dot-decimal" scale="3" id="f-2332">7,728</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:RestrictedStockExpense" format="ixt:num-dot-decimal" scale="3" id="f-2333">21,053</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:RestrictedStockExpense" format="ixt:num-dot-decimal" scale="3" id="f-2334">23,400</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Director stock-based compensation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="bxmt:DirectorShareBasedPaymentArrangementExpense" scale="3" id="f-2335">172</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="bxmt:DirectorShareBasedPaymentArrangementExpense" scale="3" id="f-2336">256</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="bxmt:DirectorShareBasedPaymentArrangementExpense" scale="3" id="f-2337">517</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="bxmt:DirectorShareBasedPaymentArrangementExpense" scale="3" id="f-2338">658</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 115.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-2339">7,302</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-2340">7,984</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-2341">21,570</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="3" id="f-2342">24,058</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 130.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total general and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2343">12,747</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2344">13,423</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2345">38,937</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-3" name="us-gaap:GeneralAndAdministrativeExpense" format="ixt:num-dot-decimal" scale="3" id="f-2346">40,811</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 332.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.35pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.43pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.12pt">, we recognized an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-681" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="0" id="f-2347">66,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.19pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 513.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-682" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="0" id="f-2348">259,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.16pt">respectively, of expense related to our Multifamily Joint V<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.96pt">enture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.84pt">, compared to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.59pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-683" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="0" id="f-2349">125,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.61pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-684" decimals="-3" name="bxmt:GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" format="ixt:num-dot-decimal" scale="0" id="f-2350">668,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.84pt">, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.51pt">during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 214.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></ix:continuation><div style="position: absolute; top: 395pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_97"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 395pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">17. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:IncomeTaxDisclosureTextBlock" id="f-2351" continuedAt="f-2351-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">INCOME TAXES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2351-1" continuedAt="f-2351-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">We have elected to be taxed as a REIT under the Internal Revenue Code for U.S. federal income tax purposes. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">generally must distribute annually at least 90% of our net taxable income, subject to certain adjustments and excluding any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">net capital gain, in order for U.S. federal income tax not to apply to our earnings. To the extent that we satisfy this<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">distribution requirement, but distribute less than 100% of our net taxable income, we will be subject to U.S. federal income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">tax on our undistributed taxable income. In addition, we will be subject to a 4% nondeductible excise tax if the actual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">amount that we pay out to our stockholders in a calendar year is less than a minimum amount specified under U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.51pt">tax laws.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">Our qualification as a REIT also depends on our ability to meet various other requirements imposed by the Internal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Revenue Code, which relate to organizational structure, diversity of stock ownership, and certain restrictions with regard to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.78pt">the nature of our assets and the sources of our income. Even if we qualify as a REIT, we may be subject to certain U.S.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">federal income and excise taxes and state and local taxes on our income and assets. If we fail to maintain our qualification<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 551pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">as a REIT for any taxable year, we may be subject to material penalties as well as federal, state, and local income tax on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 562.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">our taxable income at regular corporate rates and we would not be able to qualify as a REIT for the subsequent four full<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.91pt">taxable years.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt"> As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.93pt">, we were in compliance with all REIT requirements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 597.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Securitization transactions could result in the creation of taxable mortgage pools for federal income tax purposes. As a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">REIT, so long as we own 100% of the equity interests in a taxable mortgage pool, we generally would not be adversely<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">affected by the characterization of the securitization as a taxable mortgage pool. Certain categories of stockholders,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 632pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">however, such as foreign stockholders eligible for treaty or other benefits, stockholders with net operating losses, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">certain tax-exempt stockholders that are subject to unrelated business income tax, or UBTI, could be subject to increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 655pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">taxes on a portion of their dividend income from us that is attributable to the taxable mortgage pool. We have not made<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.84pt">UBTI distributions to our common stockholders and do not intend to make such UBTI distributions in the future.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.68pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.75pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.53pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.23pt">, we recorded a current income tax provision of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.43pt">$<ix:nonFraction unitRef="usd" contextRef="c-15" decimals="-5" name="us-gaap:IncomeTaxExpenseBenefit" scale="6" id="f-2352">1.5</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 701.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.48pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.4pt">$<ix:nonFraction unitRef="usd" contextRef="c-1" decimals="-5" name="us-gaap:IncomeTaxExpenseBenefit" format="ixt:num-dot-decimal" scale="6" id="f-2353">3.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 428pt">, respectively, primarily related to activities of our U.S. and foreign taxable subsidiaries and various state<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.17pt">and local taxes. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.51pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.17pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.14pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.9pt">, we recorded a current income tax provision<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 724.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">o<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 63.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt">f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 66.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-16" decimals="-3" name="us-gaap:IncomeTaxExpenseBenefit" format="ixt:num-dot-decimal" scale="0" id="f-2354">613,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.93pt"> a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">nd <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt">$<ix:nonFraction unitRef="usd" contextRef="c-17" decimals="-5" name="us-gaap:IncomeTaxExpenseBenefit" scale="6" id="f-2355">2.8</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 367.04pt">, respectively, primarily related to activities of our U.S. and foreign taxable subsidiaries and<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">49<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2351-2" continuedAt="f-2351-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.31pt">various state and local taxes. We did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.79pt"> have any deferred tax assets or liabilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.9100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.49pt"> or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">We have net operating losses, or NOLs, generated by our predecessor business that may be carried forward and utilized in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.43pt">current or future periods. As a result of our issuance of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonFraction unitRef="shares" contextRef="c-685" decimals="INF" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" format="ixt:num-dot-decimal" scale="0" id="f-2356">25,875,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.51pt"> shares of class A common stock in May 2013,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.2pt">the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 191.27pt">availability of our NOLs is generally limited to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.9pt">$<ix:nonFraction unitRef="usd" contextRef="c-686" decimals="-5" name="bxmt:OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" format="ixt:num-dot-decimal" scale="6" id="f-2357">2.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.06pt"> per annum<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.67pt"> by change of control provisions promulgated by the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 379.36pt">Internal Revenue Service with respect to the ownership of Blackstone Mortgage Trust. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.1pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.46pt">, we had<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.76pt">estimated NOLs of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.93pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:OperatingLossCarryforwards" format="ixt:num-dot-decimal" scale="6" id="f-2358">159.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.58pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.55pt">that will expire in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.18pt">, unless they are utilized by us prior to expiration. Previously, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">recorded a full valuation allowance against such NOLs as we expected that they would expire unutilized. However,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">although uncertain, we may utilize a portion of NOLs prior to expiration. We do not expect the utilization of NOLs to have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">a material impact on our consolidated financial statements. We have recorded a full valuation allowance against such NOLs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.58pt">as it is probable that they will expire unutilized.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><ix:continuation id="f-2351-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.78pt">, tax years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.1pt"> through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 207.79pt">remain subject to examination by taxing authorities.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 234pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_103"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 234pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">18. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" id="f-2359" continuedAt="f-2359-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">STOCK-BASED INCENTIVE PLANS <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2359-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.12pt">We are externally managed by our Manager and do not currently have any employees. However, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">our Manager, certain individuals employed by an affiliate of our Manager, and certain members of our board of directors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.25pt">were compensated, in part, through our issuance of stock-based instruments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.59pt">Under our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="plan" contextRef="c-3" decimals="INF" name="bxmt:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" format="ixt-sec:numwordsen" scale="0" id="f-2360">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.96pt"> current stock incentive plans, a maximum of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonFraction unitRef="shares" contextRef="c-687" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" format="ixt:num-dot-decimal" scale="0" id="f-2361">10,400,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 207.33pt"> shares of our class A common stock may be issued<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.31pt">to our Manager, our directors and officers, and certain employees of affiliates of our Manager. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.08pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.37pt">there were <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-687" decimals="0" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" format="ixt:num-dot-decimal" scale="0" id="f-2362">5,980,325</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.66pt"> shares available under our current stock incentive plans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 344.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" id="f-2363" continuedAt="f-2363-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2363-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.31pt">average grant date fair value per share:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 367.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 352.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 352.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.49pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.35pt; position: var(--position); text-decoration: none; white-space: pre">Restricted Class A<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.56pt; position: var(--position); text-decoration: none; white-space: pre"> Common Stock <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.9pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-Average<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.12pt; position: var(--position); text-decoration: none; white-space: pre"> Grant Date Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.9pt; position: var(--position); text-decoration: none; white-space: pre"> Value Per Share<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 29.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-688" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2364">2,142,759</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-688" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" scale="0" id="f-2365">21.13</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 44.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Granted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-689" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" format="ixt:num-dot-decimal" scale="0" id="f-2366">511,012</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usdPerShare" contextRef="c-689" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" scale="0" id="f-2367">17.88</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Vested<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="shares" contextRef="c-689" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" format="ixt:num-dot-decimal" scale="0" id="f-2368">1,027,285</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usdPerShare" contextRef="c-689" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" scale="0" id="f-2369">21.17</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 74.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Forfeited<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(<ix:nonFraction unitRef="shares" contextRef="c-689" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" format="ixt:num-dot-decimal" scale="0" id="f-2370">43,832</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="usdPerShare" contextRef="c-689" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" scale="0" id="f-2371">19.41</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 89.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre"><ix:nonFraction unitRef="shares" contextRef="c-690" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2372">1,582,654</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usdPerShare" contextRef="c-690" decimals="2" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" scale="0" id="f-2373">20.10</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.75pt">These shares generally vest in installments over a period of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonNumeric contextRef="c-689" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="f-2374">three years</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.18pt">, pursuant to the terms of the respective award<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.13pt">agreements and the terms of our current stock incentive plans. The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-690" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2375">1,582,654</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.73pt"> shares of restricted class A common stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.36pt">outstanding as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.49pt"> will vest as follows: <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-691" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2376">304,010</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt"> shares will vest in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.13pt">; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-692" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2377">863,026</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.8pt"> shares will vest in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2026<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.84pt">; and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-693" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2378">415,618</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.96pt"> shares will vest in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 215.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2027<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.32pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.08pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 349.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 203.83pt">, total unrecognized compensation cost relating to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.97pt">unvested share-based compensation arrangements was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.64pt">$<ix:nonFraction unitRef="usd" contextRef="c-690" decimals="-5" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" format="ixt:num-dot-decimal" scale="6" id="f-2379">30.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.26pt"> based on the grant date fair value of shares granted.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.07pt">This cost is expected to be recognized over a weighted-average period of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt"><ix:nonNumeric contextRef="c-689" name="us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" format="ixt-sec:duryear" id="f-2380">1.0</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.69pt"> year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.43pt"> from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">50<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_106"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">19. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:FairValueDisclosuresTextBlock" id="f-2381" continuedAt="f-2381-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">FAIR VALUES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2381-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Assets and Liabilities Measured at Fair Value<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" id="f-2382" continuedAt="f-2382-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.88pt">The following table summarizes our assets and liabilities measured at fair value on a recurring basis ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2382-1"><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 114.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 138pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 55.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 56.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-694" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2383">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-695" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2384">19,505</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-696" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2385">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2386">19,505</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-697" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2387">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-698" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2388">72,454</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-699" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:fixed-zero" scale="3" id="f-2389">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeAssets" format="ixt:num-dot-decimal" scale="3" id="f-2390">72,454</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-694" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2391">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-695" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2392">2,557</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-696" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2393">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2394">2,557</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-697" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2395">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-698" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2396">5,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-699" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:fixed-zero" scale="3" id="f-2397">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:DerivativeLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2398">5,238</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.75pt">This table excludes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.23pt">$<ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-5" name="us-gaap:EquityMethodInvestmentsFairValueDisclosure" format="ixt:num-dot-decimal" scale="6" id="f-2399">104.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 354.86pt"> of investments in unconsolidated entities that are measured at fair value using net asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 308.98pt">value as a practical expedient and not classified in the fair value hierarchy as <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.22pt"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="INF" name="us-gaap:EquityMethodInvestmentsFairValueDisclosure" format="ixt:fixed-zero" scale="0" id="f-2400">No</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.49pt"> assets were measured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 252.68pt">at fair value using net asset value as a practical expedient as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.95pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 552.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.95pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.52pt"> for further discussion regarding fair value measurement.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.77pt">Fair Value of Financial Instruments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 212.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.83pt">As discussed in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.97pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 399.08pt">, GAAP requires disclosure of fair value information about financial instruments, whether or not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 439.9pt">recognized at fair value in the statement of financial position, for which it is practicable to estimate that value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345.3pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:FairValueByBalanceSheetGroupingTextBlock" id="f-2401" continuedAt="f-2401-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 456.24pt">The following table details the book value, face amount, and fair value of the financial instruments described in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.36pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.27pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2401-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 380.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 147.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 52.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.24pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial assets<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-2402">377,921</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-2403">377,921</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="f-2404">377,921</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-2405">323,483</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:CashAndCashEquivalents" format="ixt:num-dot-decimal" scale="3" id="f-2406">323,483</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:CashAndCashEquivalentsFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="f-2407">323,483</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2408">17,371,200</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-2409">18,188,534</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LoansReceivableFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="f-2410">17,407,513</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2411">18,313,582</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess" format="ixt:num-dot-decimal" scale="3" id="f-2412">19,203,126</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="us-gaap:LoansReceivableFairValueDisclosure" format="ixt:num-dot-decimal" scale="3" id="f-2413">18,288,958</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 76.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial liabilities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2414">9,540,224</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2415">9,548,332</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2416">9,450,250</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-701" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2417">9,696,334</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-701" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2418">9,705,529</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-701" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2419">9,590,400</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2420">2,470,067</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2421">2,479,417</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2422">2,455,101</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2423">1,936,956</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2424">1,936,967</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-8" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2425">1,838,089</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 119.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Asset-specific debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2426">627,916</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2427">629,890</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2428">619,599</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2429">1,224,841</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2430">1,228,110</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-10" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2431">1,218,639</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 133.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loan participations sold, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilitiesAmount" format="ixt:fixed-zero" scale="3" id="f-2432">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LoanParticipationLiabilitiesPrincipalAmount" format="ixt:fixed-zero" scale="3" id="f-2433">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilitiesFairValue" format="ixt:fixed-zero" scale="3" id="f-2434">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilitiesAmount" format="ixt:num-dot-decimal" scale="3" id="f-2435">100,064</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LoanParticipationLiabilitiesPrincipalAmount" format="ixt:num-dot-decimal" scale="3" id="f-2436">100,064</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 23.63pt"></span></span><span style="left: 26.259999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-4" decimals="-3" name="bxmt:LoanParticipationsSoldLiabilitiesFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2437">99,822</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured term loans, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2438">1,774,913</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2439">1,808,127</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2440">1,812,573</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2441">1,732,073</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2442">1,764,437</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-12" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2443">1,765,668</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2444">785,215</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2445">785,316</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2446">801,487</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2447">771,035</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2448">785,316</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-590" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2449">780,931</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 176.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Convertible notes, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2450">264,463</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2451">266,157</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2452">262,899</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2453">263,616</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2454">266,157</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-598" decimals="-3" name="us-gaap:LongTermDebtFairValue" format="ixt:num-dot-decimal" scale="3" id="f-2455">257,707</ix:nonFraction><span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Estimates of fair value for cash and cash equivalents and convertible notes are measured using observable, quoted market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">prices, or Level 1 inputs. Estimates of fair value for securitized debt obligations, the Term Loans, and the Senior Secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Notes are measured using observable, quoted market prices, in inactive markets, or Level 2 inputs. All other fair value<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.18pt">significant estimates are measured using unobservable inputs, or Level 3 inputs. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.93pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 424.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.82pt"> for further discussion regarding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.76pt">fair value measurement of certain of our assets and liabilities.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 663.3pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_109"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 663.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">20. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:VariableInterestEntityDisclosureTextBlock" id="f-2456" continuedAt="f-2456-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">VARIABLE INTEREST ENTITIES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2456-1" continuedAt="f-2456-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">We have financed a portion of our loans through the CLOs, all of which are VIEs. We are the primary beneficiary of, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">therefore consolidate, the CLOs on our balance sheet as we (i) control the relevant interests of the CLOs that give us power<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">to direct the activities that most significantly affect the CLOs, and (ii) have the right to receive benefits and obligation to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.49pt">absorb losses of the CLOs through the subordinate interests we own.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">51<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2456-2" continuedAt="f-2456-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.7pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.67pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.56pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.49pt">, we modified <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="loan" contextRef="c-1" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoansModified" format="ixt-sec:numwordsen" scale="0" id="f-2457">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.14pt"> loans that included, among other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 321pt">changes, control over decision making at the respective properties. Similarly, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.6pt">during 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.72pt">, we modified <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="loan" contextRef="c-138" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoansModified" format="ixt-sec:numwordsen" scale="0" id="f-2458">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.73pt"> other loa<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 544.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 8.89pt">ns<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.16pt">that included, among other changes, an equit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.32pt">y interest in and/or control over decision-making at the property.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.38pt"> As a result of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 272.42pt">these modifications, our investments in these loans are VIEs. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.94pt">, we are the primary beneficiary of,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">and therefore consolidated the assets of these VIEs on our balance sheet as we (i) have the power to direct the activities that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 408.36pt">most significantly affect the property, and (ii) have the right to receive excess sale proceeds upon exit.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfVariableInterestEntitiesTextBlock" id="f-2459" continuedAt="f-2459-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.79pt">The following table details the assets and liabilities of our consolidated VIEs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2459-1"><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 170pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 183.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 336.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 336.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.44pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 27.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="f-2460">40,299</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 46.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" format="ixt:num-dot-decimal" scale="3" id="f-2461">9,145</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 42.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2462">2,946,640</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2463">2,338,201</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 57.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.46pt"></span></span><span style="left: 41.09pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-2464">133,345</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 57.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">(<ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" format="ixt:num-dot-decimal" scale="3" id="f-2465">202,400</ix:nonFraction>)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 72.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2466">2,813,295</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 72.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" format="ixt:num-dot-decimal" scale="3" id="f-2467">2,135,801</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 87.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-2468">525,084</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 87.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:RealEstateAcquiredThroughForeclosure" format="ixt:num-dot-decimal" scale="3" id="f-2469">177,322</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 102.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-2470">234,188</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 102.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:OtherAssets" format="ixt:num-dot-decimal" scale="3" id="f-2471">126,518</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 117.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="f-2472">3,612,866</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 117.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:Assets" format="ixt:num-dot-decimal" scale="3" id="f-2473">2,448,786</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 147.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-702" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2474">2,470,067</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 147.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-703" decimals="-3" name="us-gaap:LongTermDebt" format="ixt:num-dot-decimal" scale="3" id="f-2475">1,936,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 162.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 49.42pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2476">41,177</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 162.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 41.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:OtherLiabilities" format="ixt:num-dot-decimal" scale="3" id="f-2477">13,277</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 177.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-13" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="f-2478">2,511,244</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 177.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-14" decimals="-3" name="us-gaap:Liabilities" format="ixt:num-dot-decimal" scale="3" id="f-2479">1,950,233</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 393.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Assets held by these VIEs are restricted and can be used only to settle obligations of the VIEs, including the subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">interests owned by us. The liabilities of these VIEs are non-recourse to us and can only be satisfied from the assets of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 416.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">VIEs. The consolidation of these VIEs results in an increase in our gross assets, liabilities, revenues and expenses, however<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">it does not affect our stockholders&#8217; equity or net income. We are not obligated to provide, have not provided, and do not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 439.55pt; width: 612pt"><ix:continuation id="f-2456-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.21pt">intend to provide material financial support to these consolidated VIEs.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 343.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 469.05pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_549755815208"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 15pt">21. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock" id="f-2480" continuedAt="f-2480-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.85pt">TRANSACTIONS WITH RELATED PARTIES<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 280.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2480-1" continuedAt="f-2480-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.11pt">Our Manager<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">We are managed by our Manager pursuant to the Management Agreement. The current term of the Management<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.57pt">Agreement expires on December&#160;19, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.94pt">, and it will be automatically renewed for a <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-704" name="bxmt:RelatedPartyTransactionRenewalTerm" format="ixt-sec:durwordsen" id="f-2481"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.52pt">-year<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.48pt"> term upon such date and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.32pt">each anniversary thereafter unless earlier terminated.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 556.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.48pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.58pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.74pt">, our consolidated balance sheets included <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.37pt">$<ix:nonFraction unitRef="usd" contextRef="c-705" decimals="-5" name="us-gaap:ManagementFeePayable" scale="6" id="f-2482">16.8</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-706" decimals="-5" name="us-gaap:ManagementFeePayable" scale="6" id="f-2483">18.5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.85pt">million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.11pt">, respectively, of accrued management fees payable to our Manager. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.36pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.43pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.13pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 122.33pt">, we paid management fees of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.94pt">$<ix:nonFraction unitRef="usd" contextRef="c-707" decimals="-5" name="us-gaap:PaymentForManagementFee" scale="6" id="f-2484">17.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.61pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.94pt">$<ix:nonFraction unitRef="usd" contextRef="c-704" decimals="-5" name="us-gaap:PaymentForManagementFee" scale="6" id="f-2485">52.8</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.6pt">, respectively, to our M<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.62pt">anager<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.48pt">, compared<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.18pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$<ix:nonFraction unitRef="usd" contextRef="c-708" decimals="-5" name="us-gaap:PaymentForManagementFee" scale="6" id="f-2486">18.7</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.25pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$<ix:nonFraction unitRef="usd" contextRef="c-709" decimals="-5" name="us-gaap:PaymentForManagementFee" scale="6" id="f-2487">64.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 118.97pt">, during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.42pt">. In addition, during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.41pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.49000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.24pt">, we incurred expenses of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 305.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-707" decimals="-3" name="us-gaap:ProfessionalAndContractServicesExpense" format="ixt:num-dot-decimal" scale="0" id="f-2488">449,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-704" decimals="-3" name="us-gaap:ProfessionalAndContractServicesExpense" format="ixt:num-dot-decimal" scale="0" id="f-2489">868,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.26pt">, respectively, that were paid by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 289.29pt">Manager and have been or will be reimbursed by us, compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-708" decimals="-3" name="us-gaap:ProfessionalAndContractServicesExpense" format="ixt:num-dot-decimal" scale="0" id="f-2490">340,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.57pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.92pt">$<ix:nonFraction unitRef="usd" contextRef="c-709" decimals="-5" name="us-gaap:ProfessionalAndContractServicesExpense" format="ixt:num-dot-decimal" scale="6" id="f-2491">1.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.61pt">, respectively, of such<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.89pt">expenses during the same <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.42pt">periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 649.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.74pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.52pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.14pt">, our Manager held <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-710" decimals="0" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2492">828,213</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.09pt"> shares of unvested restricted class A common stock, which had an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 660.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.62pt">aggregate grant date fair value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.82pt">$<ix:nonFraction unitRef="usd" contextRef="c-711" decimals="-5" name="bxmt:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" format="ixt:num-dot-decimal" scale="6" id="f-2493">17.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.49pt">. These shares vest in installments over <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.51pt"><ix:nonNumeric contextRef="c-711" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" format="ixt-sec:durwordsen" id="f-2494">three years</ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 478.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.47pt"> from the date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.88pt">issuance. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.27pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.31pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.96000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.9pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.53pt">, we recorded non-cash expenses related to shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.87pt">held by our Manager of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.25pt">$<ix:nonFraction unitRef="usd" contextRef="c-712" decimals="-5" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="6" id="f-2495">3.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.23pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.25pt">$<ix:nonFraction unitRef="usd" contextRef="c-711" decimals="-5" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="6" id="f-2496">10.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.01pt">, respectively, compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.25pt">$<ix:nonFraction unitRef="usd" contextRef="c-713" decimals="-5" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="6" id="f-2497">4.2</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.23pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.25pt">$<ix:nonFraction unitRef="usd" contextRef="c-714" decimals="-5" name="us-gaap:ShareBasedCompensation" format="ixt:num-dot-decimal" scale="6" id="f-2498">12.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 161.76pt">respectively, during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.95pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.21000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.58pt"> for further details on our restricted class A common stock.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 547.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">52<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2480-2" continuedAt="f-2480-3"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.38pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.38pt">, our Manager, its affiliates (including Blackstone and Blackstone-advised investment vehicles),<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.44pt">Blackstone employees, and our directors held an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"><ix:nonFraction unitRef="shares" contextRef="c-715" decimals="INF" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2499">12,874,956</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.43pt"> shares, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-715" decimals="3" name="bxmt:CommonStockSharesOutstandingPercentage" scale="-2" id="f-2500">7.5</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.15pt">, of our class A common stock, of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.22pt">which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt"><ix:nonFraction unitRef="shares" contextRef="c-716" decimals="INF" name="us-gaap:CommonStockSharesOutstanding" format="ixt:num-dot-decimal" scale="0" id="f-2501">8,234,581</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.2pt"> shares, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-716" decimals="3" name="bxmt:CommonStockSharesOutstandingPercentage" scale="-2" id="f-2502">4.8</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.31pt">, were held by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.81pt">Blackstone and its subsidiaries<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.98pt">. Additionally, our directors held <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt"><ix:nonFraction unitRef="shares" contextRef="c-717" decimals="INF" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" format="ixt:num-dot-decimal" scale="0" id="f-2503">331,611</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.13pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.55pt">deferred stock units as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 309.4pt">. Certain of the parties listed above have in the past purchased or sold shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">of our class A common stock in open market transactions, and such parties may in the future purchase or sell additional<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">shares of our class A common stock and/or engage in derivatives transactions related to our class A common stock. Any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">such transactions would be made in the sole discretion of the relevant party based on market conditions and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 134.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.08pt">considerations relevant to such parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.39pt">Affiliate Services<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">We have engaged certain portfolio companies owned by Blackstone-advised investment vehicles to provide various<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.17pt">services. <span style="display: inline-block; height: 6.93pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock" id="f-2504" continuedAt="f-2504-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.32pt"> following table details the costs incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2504-1" continuedAt="f-2504-2"><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 209.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 0pt; width: 114pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.59pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 0pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.17pt; position: var(--position); text-decoration: none; white-space: pre">Asset Class<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 21.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.12pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Brio Real Estate Services, LLC, Brio Real Estate <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">(UK) Ltd., and Brio Real Estate (AUS) Pty Ltd.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 193.82999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 34.5pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-718" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2505">1,244</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 40.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-719" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2506">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-720" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2507">2,345</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-721" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2508">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Corporate Services, LLC and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Global Services Europe S.&#224; r.l.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 170.76pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 59.25pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-722" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2509">353</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-723" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2510">384</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-724" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2511">696</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 59.25pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-725" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2512">945</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Perform Properties, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 102.25pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.62pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 84pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-726" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2513">1,903</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-727" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2514">38</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-728" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2515">2,797</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 84pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-729" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2516">82</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LivCor, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 55.35pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 99pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-730" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2517">46</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-731" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2518">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-732" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2519">322</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 99pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-733" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2520">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BRE Hotels &amp; Resorts, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 117.22999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.18pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 114pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-734" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2521">284</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-735" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2522">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-736" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2523">1,153</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 114pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-737" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2524">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LendingOne, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 76.44pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 129pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-738" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2525">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-739" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2526">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-740" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2527">158</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 129pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-741" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2528">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 144pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-742" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2529">3,830</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-743" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2530">422</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-744" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2531">7,471</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 144pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-745" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2532">1,027</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 380.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 392.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">As applicable, provides management support, operational support, corporate support, and transaction support<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 404.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.67pt">services <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.81pt">to certain of our investments directly.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 415.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">As applicable, provides management support, operational support, and corporate support services to certain of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 427.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">REO assets directly.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 438.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 299.08pt">Successor entity to EQ Management, LLC that provides the same services.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 450.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.66pt">Provides loan origination services related to certain of our investments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">53<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2480-3" continuedAt="f-2480-4"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.41pt">We have engaged affiliates of our Manager to provide various services noted below. <span style="display: inline-block; height: 6.93pt"></span></span><ix:continuation id="f-2504-2" continuedAt="f-2504-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.53pt">The following table details the costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation></div><ix:continuation id="f-2504-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 174.82pt">incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BTIG, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 49.800000000000004pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-746" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2533">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-747" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2534">84</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-748" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2535">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-749" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2536">124</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gryphon Mutual Property Americas IC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 159.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-750" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2537">697</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-751" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2538">57</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-752" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2539">1,845</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-753" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2540">142</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Blackstone internal audit services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-754" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2541">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-755" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2542">24</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-756" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2543">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-757" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2544">71</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Lexington National Land Services<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 139.96pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-758" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2545">170</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-759" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2546">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-760" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2547">216</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-761" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2548">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Blackstone Securities Partners L.P.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 143.29pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-762" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2549">30</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-763" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2550">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-764" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2551">109</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-765" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:fixed-zero" scale="3" id="f-2552">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-766" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2553">897</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-767" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2554">165</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-768" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" format="ixt:num-dot-decimal" scale="3" id="f-2555">2,170</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-769" decimals="-3" name="us-gaap:RelatedPartyTransactionAmountsOfTransaction" scale="3" id="f-2556">337</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 215.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Affiliates of our Manager own an interest in the controlling entity of BTIG, LLC, or BTIG. BTIG has been engaged<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 348.04pt">as a broker for repurchases of our Senior Secured Notes and Convertible Notes. D<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.38pt">uring the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.57pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.87pt">, there was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="usd" contextRef="c-748" decimals="-3" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:fixed-zero" scale="0" id="f-2557">no</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.58pt"> repurchase activity. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.07pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.29pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.44pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.64pt">repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$<ix:nonFraction unitRef="usd" contextRef="c-770" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2558">30.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.17pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$<ix:nonFraction unitRef="usd" contextRef="c-771" decimals="-5" name="us-gaap:ExtinguishmentOfDebtAmount" format="ixt:num-dot-decimal" scale="6" id="f-2559">33.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.72pt"> of our Senior Secured Notes and Convertible Notes, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.67pt">utilizing BTIG as a broker<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 353.75pt"> Additionally, we have engaged BTIG as a sales agent to sell shares of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.51pt">common stock under one of our ATM Agreements. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">did not sell any shares under our ATM Agreements. Our engagements of BTIG are on terms equivalent to those of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.82pt">unaffiliated third parties under similar arrangements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">In the first quarter of 2024, in order to provide insurance for our REO assets, we became a member of Gryphon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Mutual Property Americas IC, or Gryphon, a captive insurance company owned by us and other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">investment vehicles. A Blackstone affiliate provides oversight and advisory services to Gryphon and receives fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">based on a percentage of premiums paid for such policies. The fees and expenses of Gryphon, including insurance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">premiums and fees paid to its manager, are paid annually and borne by us and the other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">investment vehicles that are members of Gryphon pro rata based on insurance premiums paid for each party&#8217;s<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 388.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.49pt">respective properties. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.88pt">, we paid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.86pt">$<ix:nonFraction unitRef="usd" contextRef="c-752" decimals="-5" name="bxmt:AmountContributedToCaptiveTowardsInsurancePremium" format="ixt:num-dot-decimal" scale="6" id="f-2560">1.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.94pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 400.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-753" decimals="-3" name="bxmt:AmountContributedToCaptiveTowardsInsurancePremium" format="ixt:num-dot-decimal" scale="0" id="f-2561">400,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 123pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.39pt">, respectively, to Gryphon for insurance costs, inclusive of premiums, capital surplus contributions, taxes,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 411.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.19pt">and our pro rata share of other expenses. Of these amounts, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-772" decimals="-3" name="us-gaap:PaymentForManagementFee" format="ixt:num-dot-decimal" scale="0" id="f-2562">86,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 386.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-773" decimals="-3" name="us-gaap:PaymentForManagementFee" format="ixt:num-dot-decimal" scale="0" id="f-2563">30,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.83pt">, respectively, was attributable to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 423.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">the fee paid to a Blackstone affiliate to provide oversight and management services to Gryphon. The amounts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 434.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">included in the table above reflect the amortization of the insurance expense over the relevant periods of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 446.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.54pt">respective policies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 457.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Lexington National Land Services, or LNLS, a title agent company owned by Blackstone, acts as an agent for one or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">more underwriters in issuing title policies and/or providing support services in connection with investments made by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 480.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">us, Blackstone and their affiliates and related parties, and third-parties. LNLS focuses on transactions in rate-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">regulated states where the cost of title insurance is non-negotiable. LNLS will not perform services in non-regulated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 503.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">states for us, unless (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 515.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">when a third-party is paying all or a material portion of the premium or (iv) when providing only support services to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">the underwriter. LNLS earns fees, which would have otherwise been paid to third parties, by providing title agency<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">services and facilitating placement of title insurance with underwriters. Blackstone receives distributions from LNLS<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.81pt">in connection with investments made by us based on its equity interest in LNLS. In each case, there will be no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.25pt">related expense offset to us.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.71pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.99pt">, Blackstone Securities Partners L.P., or BSP, an affiliate of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Manager, was engaged as a member of the syndicate for both our B-6 Term Loan and our B-7 Term Loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 301.56pt">engagements were on terms equivalent to those of unaffiliated third parties.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">CT Investment Management Co., LLC, or CTIMCO, serves as the special servicer of all of our CLOs, and the Manager<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">serves as the collateral manager and benchmark agent for our FL5 CLO issued in the first quarter of 2025. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.37pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="asset" contextRef="c-774" decimals="INF" name="bxmt:CollateralizedLoanObligationsNumberOfAssets" format="ixt-sec:numwordsen" scale="0" id="f-2564">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 393.57pt"> of our assets were in special servicing under the CLOs. CTIMCO and our Manager have waived<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">any fees that would be payable to a third party serving in such roles pursuant to the applicable agreements, and no such fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.7pt">have been paid or will become payable to CTIMCO or our Manager.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">54<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><ix:continuation id="f-2480-4" continuedAt="f-2480-5"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">Other Transactions<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.58pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.55pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.03pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.53pt">, we invested <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.38pt">$<ix:nonFraction unitRef="usd" contextRef="c-775" decimals="-5" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2565">666.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.83pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt"><ix:nonFraction unitRef="loan" contextRef="c-776" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" format="ixt-sec:numwordsen" scale="0" id="f-2566">five</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.06pt"> senior loans and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.38pt">$<ix:nonFraction unitRef="usd" contextRef="c-777" decimals="-5" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2567">123.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.8pt"> in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt"><ix:nonFraction unitRef="loan" contextRef="c-778" decimals="INF" name="bxmt:DebtInstrumentNumberOfLoans" format="ixt-sec:numwordsen" scale="0" id="f-2568">four</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 478.22pt"> mezzanine loans to unaffiliated third parties in which Blackstone-advised investment vehicles also invested at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.65pt">same level of the capital structure on a pari passu basis.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.47pt">In the third quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.95pt">, Blackstone-advised investment vehicles acquired an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.64pt">$<ix:nonFraction unitRef="usd" contextRef="c-779" decimals="-5" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2569">33.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.82pt"> participation in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.05pt">our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.07pt">$<ix:nonFraction unitRef="usd" contextRef="c-558" decimals="-5" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="f-2570">453.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.03pt"> B-7 Term Loan. In the second quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.7pt">, Blackstone-advised investment vehicles acquired an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.62pt">aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.15pt">$<ix:nonFraction unitRef="usd" contextRef="c-780" decimals="-5" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2571">83.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.77pt"> participation in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.38pt">$<ix:nonFraction unitRef="usd" contextRef="c-781" decimals="-8" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="9" id="f-2572">1.0</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.96pt"> B-6 Term Loan. In the fourth quarter of 2024, Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.72pt">investment vehicles acquired (i) an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.2pt">$<ix:nonFraction unitRef="usd" contextRef="c-782" decimals="-5" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2573">62.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.97pt"> participation in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$<ix:nonFraction unitRef="usd" contextRef="c-573" decimals="-5" name="us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity" format="ixt:num-dot-decimal" scale="6" id="f-2574">650.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.81pt"> B-5 Term Loan, and (ii) an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.54pt">aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.07pt">$<ix:nonFraction unitRef="usd" contextRef="c-783" decimals="-5" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2575">80.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.82pt"> of our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.07pt">$<ix:nonFraction unitRef="usd" contextRef="c-588" decimals="-5" name="us-gaap:DebtInstrumentFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2576">450.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.72pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.76pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.87pt"> Senior Secured Notes. All of these transactions were part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">broad syndications led by third-party banks, and were on terms equivalent to those of unaffiliated third parties. BSP, an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">affiliate of our Manager, was engaged as a member of the syndicate for these transactions. Our engagements of BSP are on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 395.59pt">terms equivalent to those of unaffiliated parties. See &#8220;&#8212;Affiliate Services&#8221; for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.64pt">In the first quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.3pt">, as part of a broad syndication led by third-party banks, Blackstone-advised investment vehicles<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.83pt">acquired an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.08pt">$<ix:nonFraction unitRef="usd" contextRef="c-784" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="6" id="f-2577">75.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.17pt"> of notes in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.31pt">$<ix:nonFraction unitRef="usd" contextRef="c-785" decimals="-3" name="bxmt:DebtInstrumentCollateralAmountFaceAmount" format="ixt:num-dot-decimal" scale="9" id="f-2578">1.0</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 239.55pt"> FL5 CLO offering. All of these transactions were on terms<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.81pt">equivalent to those of unaffiliated third parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.31pt">In the second quarter of 2025, we entered into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.56pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.02pt"> with a Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.14pt">investment vehicle that concurrently acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.78pt">$<ix:nonFraction unitRef="usd" contextRef="c-786" decimals="-8" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="9" id="f-2579">1.4</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 252pt"> portfolio of performing commercial mortgage loans in which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.74pt">we made an equity investment of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt">$<ix:nonFraction unitRef="usd" contextRef="c-787" decimals="-5" name="us-gaap:PaymentsToAcquireEquityMethodInvestments" format="ixt:num-dot-decimal" scale="6" id="f-2580">57.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.23pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-461" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-2581">29</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.55pt">. In the third quarter of 2025, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.09pt">Bank<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.81pt">Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.96pt"> acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.73pt">$<ix:nonFraction unitRef="usd" contextRef="c-715" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2582">606.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.47pt"> portfolio of performing commercial mortgage loans in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.94pt">made an equity investment of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.1pt">$<ix:nonFraction unitRef="usd" contextRef="c-788" decimals="-5" name="us-gaap:PaymentsToAcquireEquityMethodInvestments" format="ixt:num-dot-decimal" scale="6" id="f-2583">44.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.83pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-462" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-2584">50</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 169.62pt">. In the fourth quarter of 2024, we entered<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.95pt">into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.43pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 361.53pt"> with a Blackstone-advised investment vehicle to invest in triple net lease properties. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.71pt">do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.88pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.75pt"> or our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.4pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.08pt"> as we do not have a controlling<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.82pt">financial interest. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.11pt">, the aggregate value of our equity investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.5pt">Bank Loan Portfolio Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.54pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.35pt">$<ix:nonFraction unitRef="usd" contextRef="c-125" decimals="-5" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="6" id="f-2585">104.9</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.33pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-125" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-2586">35</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 231.14pt">, and the aggregate value of our equity investment in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.53pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.02pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.09pt">$<ix:nonFraction unitRef="usd" contextRef="c-124" decimals="-5" name="us-gaap:EquityMethodInvestments" format="ixt:num-dot-decimal" scale="6" id="f-2587">77.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.77pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-124" decimals="2" name="us-gaap:EquityMethodInvestmentOwnershipPercentage" scale="-2" id="f-2588">75</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.11pt">. We, these joint ventures, and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Blackstone-advised investment vehicles, together, have engaged and may in the future engage in certain financing,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 326.81pt">derivative and/or hedging arrangements related to these joint ventures. See Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">7<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.5pt">In the second quarter of 2025, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="loan" contextRef="c-789" decimals="INF" name="bxmt:NumberOfLoansModified" format="ixt-sec:numwordsen" scale="0" id="f-2589">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.49pt"> of our senior loans to borrowers controlled by a Blackstone-advised investment vehicle<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">were modified. The terms of the modifications (including maturity extensions and additional commitments, among other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">changes) were negotiated by our third-party co-lenders. We continue to forgo all non-economic rights under the loans,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.67pt">including voting rights, so long as the Blackstone-advised investment vehicle controls the applicable borrower.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.22pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.49pt">, proceeds from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt"><ix:nonFraction unitRef="loan" contextRef="c-790" decimals="INF" name="bxmt:NumberOfLoansCount" format="ixt-sec:numwordsen" scale="0" id="f-2590">four</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.06pt"> of our loans were used by the unaffiliated third-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.34pt">party borrowers to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.93pt">$<ix:nonFraction unitRef="usd" contextRef="c-791" decimals="-5" name="us-gaap:ProceedsFromLoanOriginations1" format="ixt:num-dot-decimal" scale="6" id="f-2591">554.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.6pt"> of performing loans held by Blackstone-advised investment vehicles, and proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 499.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">from financing provided by Blackstone-advised investment vehicles were used by the unaffiliated third-party borrower to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.63pt">repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.79pt">$<ix:nonFraction unitRef="usd" contextRef="c-792" decimals="-5" name="us-gaap:ProceedsFromLoanOriginations1" format="ixt:num-dot-decimal" scale="6" id="f-2592">148.8</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.48pt"> of a performing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 215.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.77pt"> of ours. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.37pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.44pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.1pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.19pt">, proceeds from a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">loan held by a Blackstone-advised investment vehicle were used by the unaffiliated third-party borrower to repay<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.92pt">$<ix:nonFraction unitRef="usd" contextRef="c-793" decimals="-5" name="us-gaap:ProceedsFromLoanOriginations1" format="ixt:num-dot-decimal" scale="6" id="f-2593">98.6</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 441.04pt"> of a performing loan of ours, and proceeds from the sale of assets to a Blackstone-advised investment vehicle<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 545.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.87pt">were used by the unaffiliated third-party borrower to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.97pt">$<ix:nonFraction unitRef="usd" contextRef="c-794" decimals="-5" name="us-gaap:ProceedsFromSaleOfOtherAssets1" format="ixt:num-dot-decimal" scale="6" id="f-2594">59.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.16pt"> of a performing loan of ours to the borrower.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">These transactions were initiated by the applicable unaffiliated third-party borrowers with the transaction terms and pricing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.42pt">on market terms.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.36pt">In the fourth quarter of 2024, pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 166.08pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.68pt">, we referred <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt"><ix:nonFraction unitRef="loan" contextRef="c-795" decimals="INF" name="bxmt:NumberOfLoansReferred" format="ixt-sec:numwordsen" scale="0" id="f-2595">three</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.75pt"> loans to MTRCC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">for origination, where the borrower was a Blackstone-advised investment vehicle. The loan terms and pricing were on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 220.59pt">market terms negotiated by MTRCC. Pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.73pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.54pt">, we received <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-795" decimals="-3" name="bxmt:ProceedsFromLoanOriginationAndOtherLoanReceivableFees" format="ixt:num-dot-decimal" scale="0" id="f-2596">217,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.52pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.5pt">origination, servicing, and other fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.07pt"> for referring these loans during the fourth quarter of 2024.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">In the fourth quarter of 2024, in connection with the modification of one of our senior loans, a Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 419.76pt">investment vehicle purchased a pari passu participation in the loan from a third party at a discount to par.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 685pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">In the fourth quarter of 2024, the senior lenders negotiated a discounted payoff of a senior loan in which we held an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">interest. As part of the discounted payoff, a Blackstone-advised investment vehicle&#8217;s mezzanine loan, which had been part<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.54pt">of the total financing, received a small repayment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></ix:continuation></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">55<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2480-5"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 169.44pt">In the third quarter of 2024, we acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.46pt">$<ix:nonFraction unitRef="usd" contextRef="c-796" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2597">94.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.94pt"> of a total <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.46pt">$<ix:nonFraction unitRef="usd" contextRef="c-797" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2598">560.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.52pt"> senior loan to an unaffiliated third party.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">One Blackstone-advised investment vehicle holds a portion of the senior loan and another holds a mezzanine loan. We will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">forgo all non-economic rights under our loan, including voting rights, so long as any Blackstone-advised investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">vehicle controls the mezzanine loan. The intercreditor agreement between the senior loan lender and the mezzanine lender<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 330.65pt">was negotiated on market terms by a third party without our involvement, and our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><ix:nonFraction unitRef="number" contextRef="c-677" decimals="2" name="bxmt:RelatedPartyTransactionInterestInLoanPercentage" scale="-2" id="f-2599">17</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 146pt"> interest in the senior loan was made<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.24pt">on such market terms.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.15pt">In 2019 and 2021, we acquired an aggregate participation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.33pt">&#8364;<ix:nonFraction unitRef="eur" contextRef="c-798" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" scale="6" id="f-2600"><ix:nonFraction unitRef="eur" contextRef="c-799" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" scale="6" id="f-2601">350.0</ix:nonFraction></ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.36pt"> in a senior loan to a borrower that is partially<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">owned by a Blackstone-advised investment vehicle. We forgo all non-economic rights under the loan, including voting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">rights, so long as the Blackstone-advised investment vehicle controls the borrower. The loan was negotiated by third parties<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">on market terms without our involvement, and our interest in the senior loan was subject to such market terms. In the third<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">quarter of 2024, the borrower completed a refinancing transaction involving new lenders and the existing lenders. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.16pt">elected to sell <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.44pt">&#8364;<ix:nonFraction unitRef="eur" contextRef="c-677" decimals="-5" name="us-gaap:MortgageLoansOnRealEstateCostOfMortgagesSold" scale="6" id="f-2602">232.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.81pt"> of our then remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.90999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.44pt">&#8364;<ix:nonFraction unitRef="eur" contextRef="c-796" decimals="-5" name="bxmt:SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" scale="6" id="f-2603">347.0</ix:nonFraction> million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 222.08pt"> loan position to the new lenders at par and extend the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">remainder on modified terms. The terms of the modification (which included, among other changes, an extension of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 474.63pt">maturity date, and increase in the interest rate, and additional guarantees) were negotiated by our third-party co-lender.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.47pt">In the fourth quarter of 2018, we originated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.88pt">&#163;<ix:nonFraction unitRef="gbp" contextRef="c-800" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2604">148.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.62pt"> of a total <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.88pt">&#163;<ix:nonFraction unitRef="gbp" contextRef="c-796" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2605">303.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.09pt"> senior loan to a borrower that is wholly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">owned by a Blackstone-advised investment vehicle. The loan terms were negotiated by our third-party co-lender, and we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">will forgo all non-economic rights under the loan, including voting rights, so long as a Blackstone-advised investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">vehicle controls the borrower. In the third quarter of 2024, we agreed to a refinancing transaction pursuant to which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.89pt">&#163;<ix:nonFraction unitRef="usd" contextRef="c-677" decimals="-3" name="bxmt:RepaymentsOfLoanParticipations" format="ixt:num-dot-decimal" scale="6" id="f-2606">46.4</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.28pt"> of our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.89pt">&#163;<ix:nonFraction unitRef="gbp" contextRef="c-800" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2607">148.7</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 112pt"> participation in an existing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.89pt">&#163;<ix:nonFraction unitRef="gbp" contextRef="c-796" decimals="-5" name="srt:MortgageLoansOnRealEstateFaceAmountOfMortgages" format="ixt:num-dot-decimal" scale="6" id="f-2608">303.5</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.91pt"> loan to a borrower that is wholly owned by a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 287.02pt">Blackstone-advised investment vehicle was repaid, and we received a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.55pt">&#163;<ix:nonFraction unitRef="gbp" contextRef="c-801" decimals="-5" name="bxmt:ProceedsOfLoanParticipations" format="ixt:num-dot-decimal" scale="6" id="f-2609">100.0</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.32pt"> participation in a new loan made to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">the same borrower that continues to be controlled by a Blackstone-advised investment vehicle, and the terms of the loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">were modified to include, among other changes, an expanded collateral pool, an extension of the maturity date and an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">increase in the interest rate. The transaction, including the terms of the modification, was negotiated by our third-party co-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.46pt">lender.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="position: absolute; top: 372pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_118"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 372pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">22. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:CommitmentsAndContingenciesDisclosureTextBlock" id="f-2610" continuedAt="f-2610-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">COMMITMENTS AND CONTINGENCIES <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2610-1" continuedAt="f-2610-2"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.22pt">Unfunded Commitments Under Loans Receivabl<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 266.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.43pt">e<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 271.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.24pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 86.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.66pt">, we had aggregate unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.98pt">$<ix:nonFraction unitRef="usd" contextRef="c-139" decimals="-8" name="us-gaap:OffBalanceSheetCreditLossLiability" format="ixt:num-dot-decimal" scale="9" id="f-2611">1.5</ix:nonFraction>&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.77pt"> across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><ix:nonFraction unitRef="loan" contextRef="c-472" decimals="INF" name="bxmt:FinancingReceivableNumberOfLoans" scale="0" id="f-2612">57</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.24pt"> loans receivable, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.97pt">$<ix:nonFraction unitRef="usd" contextRef="c-139" decimals="-5" name="bxmt:OffBalanceSheetCreditLossLiabilityCommittedFinancings" format="ixt:num-dot-decimal" scale="6" id="f-2613">800.1</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.95pt"> of committed or identified financings for those commitments, resulting in net unfunded commitments of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59pt">$<ix:nonFraction unitRef="usd" contextRef="c-139" decimals="-5" name="bxmt:OffBalanceSheetCreditLossLiabilityNet" format="ixt:num-dot-decimal" scale="6" id="f-2614">732.3</ix:nonFraction>&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.15pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.78pt">The unfunded loan commitments comprise funding for capital expenditures and construction, leasing costs,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">and interest and carry costs. Loan funding commitments are generally subject to certain conditions, including, without<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.79pt">limitation, the progress of capital projects, leasing, and cash flows at the properties securing our loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.15pt"> Therefore, the exact<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 464.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">timing and amounts of such future loan fundings are uncertain and will depend on the current and future performance of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">the underlying collateral assets. We expect to fund our loan commitments over the remaining term of the related loans,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 225.03pt">which have a weighted-average future funding period of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 283.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.08pt"><ix:nonNumeric contextRef="c-472" name="bxmt:OffBalanceSheetCreditLossLiabilityTerm" format="ixt-sec:duryear" id="f-2615">2.1</ix:nonNumeric> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">56<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 16.45pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 237.02pt; position: var(--position); white-space: pre">Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.74pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 28.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 161.18pt; position: var(--position); white-space: pre">Notes to Consolidated Financial Statements (continued) (Unaudited)<span style="display: inline-block; height: 6.74pt"></span></span></div></div></div><div><ix:continuation id="f-2610-2" continuedAt="f-2610-3"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.68pt">Principal Debt Repayments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 176.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><ix:nonNumeric contextRef="c-1" name="srt:ContractualObligationFiscalYearMaturityScheduleTableTextBlock" id="f-2616" continuedAt="f-2616-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.81pt">Our contractual principal debt repayments as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.89pt"> were as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2616-1"><div style="position: var(--position); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 81.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 81.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.44pt; position: var(--position); text-decoration: none; white-space: pre">Year<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.86pt; position: var(--position); white-space: pre">Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.88pt; position: var(--position); white-space: pre">Asset-Specific <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); white-space: pre">Term <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.15pt; position: var(--position); white-space: pre">Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.03pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.76pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); text-decoration: none; white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.42pt; position: var(--position); white-space: pre">Convertible <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 39.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.49pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.7pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-2617">199,342</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:fixed-zero" scale="3" id="f-2618">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-2619">3,754</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:fixed-zero" scale="3" id="f-2620">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:fixed-zero" scale="3" id="f-2621">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" format="ixt:num-dot-decimal" scale="3" id="f-2622">203,096</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-2623">2,313,383</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:fixed-zero" scale="3" id="f-2624">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-2625">324,282</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:fixed-zero" scale="3" id="f-2626">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:fixed-zero" scale="3" id="f-2627">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" format="ixt:num-dot-decimal" scale="3" id="f-2628">2,637,665</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2629">2,821,019</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2630">76,549</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2631">15,015</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2632">335,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2633">266,157</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" format="ixt:num-dot-decimal" scale="3" id="f-2634">3,514,056</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:num-dot-decimal" scale="3" id="f-2635">1,320,197</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:fixed-zero" scale="3" id="f-2636">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:num-dot-decimal" scale="3" id="f-2637">15,015</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:fixed-zero" scale="3" id="f-2638">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:fixed-zero" scale="3" id="f-2639">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" format="ixt:num-dot-decimal" scale="3" id="f-2640">1,335,212</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2641">1,162,807</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2642">390,357</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2643">448,862</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2644">450,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:fixed-zero" scale="3" id="f-2645">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2646">2,452,026</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2647">1,731,584</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2648">162,984</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2649">1,001,199</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:fixed-zero" scale="3" id="f-2650">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:fixed-zero" scale="3" id="f-2651">&#8212;</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="bxmt:LongTermDebtMaturityAfterYearFour" format="ixt:num-dot-decimal" scale="3" id="f-2652">2,895,767</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-700" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2653">9,548,332</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-9" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2654">629,890</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-11" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2655">1,808,127</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-589" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2656">785,316</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-597" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2657">266,157</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 8.54pt"></span></span><span style="left: 16.169999999999998pt; position: var(--position)"><ix:nonFraction unitRef="usd" contextRef="c-3" decimals="-3" name="us-gaap:DebtInstrumentCarryingAmount" format="ixt:num-dot-decimal" scale="3" id="f-2658">13,037,822</ix:nonFraction><span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 220.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 232.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Our secured debt and asset-specific debt agreements are generally term-matched to their underlying collateral.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 243.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Therefore, the allocation of payments under such agreements is generally allocated based on the maximum maturity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 255.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">date of the collateral loans, assuming all extension options are exercised by the borrower. In limited instances, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 266.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.75pt">maturity date of the respective debt agreement is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.79pt">The Term Loans are partially amortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><ix:nonFraction unitRef="number" contextRef="c-116" decimals="2" name="bxmt:DebtInstrumentAmortizationPercentage" scale="-2" id="f-2659">1.0</ix:nonFraction>%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.3pt"> per annum of the initial principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 289.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.97pt">due in quarterly installments. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 239.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 11<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.29pt"> for further details on our Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 312.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.71pt"> for further details on our Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 324.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.72pt">Total does not include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-7" decimals="-8" name="us-gaap:LongTermDebt" scale="9" id="f-2660">2.5</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.72pt"> billion of consolidated securitized debt obligations, as the satisfaction of these liabilities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 335.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.02pt">will not require cash outlays from us.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 365.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Board of Directors&#8217; Compensation<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.92pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.24pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.07pt">our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt"><ix:nonFraction unitRef="director" contextRef="c-1" decimals="INF" name="bxmt:BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" format="ixt-sec:numwordsen" scale="0" id="f-2661">six</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 257.12pt"> non-employee directors are entitled to annual compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-802" decimals="-3" name="bxmt:AnnualDirectorCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2662">210,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.76pt"> each, of which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-802" decimals="-3" name="bxmt:AnnualDirectorCompensationCash" format="ixt:num-dot-decimal" scale="0" id="f-2663">95,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.21pt"> is paid in cash and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-802" decimals="-3" name="bxmt:AnnualDirectorCompensationStock" format="ixt:num-dot-decimal" scale="0" id="f-2664">115,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 340.67pt"> is paid in the form of deferred stock units or, at their election, shares of restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.8pt">common stock. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.83pt">, the other <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt"><ix:nonFraction unitRef="director" contextRef="c-1" decimals="INF" name="bxmt:BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation" format="ixt-sec:numwordsen" scale="0" id="f-2665">two</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.7pt"> board members, the chairperson of the board and our chief<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">executive officer, are not compensated by us for their service as directors. In addition, (i) the lead independent director<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.45pt">receives additional annual cash compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-802" decimals="-3" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2666">30,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.92pt">, (ii) the chairs of our audit, compensation, and corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.48pt">governance committees receive additional annual cash compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-803" decimals="-3" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2667">20,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.68pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-804" decimals="-3" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2668">15,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.29pt">, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-805" decimals="-3" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2669">10,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 479.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.68pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.75pt">respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.61pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">(iii) the members of our audit and investment risk management committees receive additional annual cash compensation of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-806" decimals="-3" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2670">10,000</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$<ix:nonFraction unitRef="usd" contextRef="c-807" decimals="-2" name="bxmt:AnnualDirectorCompensationAdditionalCompensation" format="ixt:num-dot-decimal" scale="0" id="f-2671">7,500</ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 492.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Litigation <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.75pt; width: 612pt"><ix:continuation id="f-2610-3"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.88pt">, we were not involved in any material legal proceedings.<span style="display: inline-block; height: 6.93pt"></span></span></ix:continuation><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 551.25pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_549755815282"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 551.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">23<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">. <span style="display: inline-block; height: 6.77pt"></span></span><ix:nonNumeric contextRef="c-1" name="us-gaap:SegmentReportingDisclosureTextBlock" id="f-2672" continuedAt="f-2672-1" escape="true"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SEGMENT REPORTING <span style="display: inline-block; height: 6.77pt"></span></span></ix:nonNumeric></div><ix:continuation id="f-2672-1"><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">Operating segments are defined as components of a business that can earn revenues and incur expenses for which discrete<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 580.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">financial information is available that is evaluated on a regular basis by the chief operating decision maker, or CODM. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.35pt">CODM is, collectively, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.28pt">Chief Executive Officer and Chief Financial Officer,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt"> who decide how to allocate resources and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 417.59pt">assess performance. A single management team reports to the CODM, who manages the entire business.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.95pt">We have determined that we have <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"><ix:nonFraction unitRef="segment" contextRef="c-1" decimals="INF" name="us-gaap:NumberOfOperatingSegments" format="ixt-sec:numwordsen" scale="0" id="f-2673"><ix:nonFraction unitRef="segment" contextRef="c-1" decimals="INF" name="us-gaap:NumberOfReportableSegments" format="ixt-sec:numwordsen" scale="0" id="f-2674">one</ix:nonFraction></ix:nonFraction><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 336.6pt"> reportable segment based on how the CODM reviews and manages the business,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.78pt">which originates and acquires commercial mortgage loans and related investments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Our CODM reviews, among other things, consolidated net income (loss) that is reported on the Consolidated Statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Operations to make decisions, allocate resources and assess performance and does not evaluate the net income (loss) from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 684.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">any separate geography or product line. The measure of segment assets is reported on the Consolidated Balance Sheets as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.03pt">total consolidated assets.<span style="display: inline-block; height: 6.93pt"></span></span></div></ix:continuation></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">57<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_121"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 2.<span style="display: inline-block; height: 6.77pt; width: 35.36pt"></span></span><span style="left: 130.5pt; position: var(--position)">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">RESULTS OF OPERATIONS <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">References herein to &#8220;Blackstone Mortgage Trust,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; or &#8220;our&#8221; refer to Blackstone Mortgage<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 322.71pt">Trust, Inc. and its subsidiaries unless the context specifically requires otherwise.<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">The following discussion and analysis of our financial condition and results of operations should be read in conjunction<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">with the unaudited consolidated financial statements and notes thereto appearing elsewhere in this Quarterly Report on<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.62pt">Form 10-Q <span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 108.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.98pt">and with our Annual Report on Form 10-K for the year ended <span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 369.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.41pt">December&#160;31, 2024<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 449.51pt; position: var(--position); white-space: pre; width: 103.92pt">. In addition to historical<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">data, this discussion and analysis contains forward-looking statements within the meaning of Section 27A of the Securities<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">Exchange Act, which reflect our current views with respect to, among other things, our business, operations and financial<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">performance. You can identify these forward-looking statements by the use of words such as &#8220;intend,&#8221; &#8220;goal,&#8221; &#8220;estimate,&#8221;<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">&#8220;expect,&#8221; &#8220;project,&#8221; &#8220;projections,&#8221; &#8220;plans,&#8221; &#8220;seeks,&#8221; &#8220;anticipates,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;may,&#8221; &#8220;designed to,&#8221;<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">&#8220;foreseeable future,&#8221; &#8220;believe,&#8221; &#8220;scheduled,&#8221; and similar expressions. Such forward- looking statements are subject to<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">various risks, uncertainties and assumptions. Our actual results or outcomes may differ materially from those in this<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">discussion and analysis as a result of various factors, including but not limited to those discussed in Item 1A. Risk Factors<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 238.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 235.1pt">in our Annual Report on Form 10-K for the year ended <span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 293.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.77pt">December&#160;31, 2024<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 374.37pt; position: var(--position); white-space: pre; width: 178.99pt"> and elsewhere in this Quarterly Report on<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 47.76pt">Form 10-Q.<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 54.42pt">Introduction<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 112.92pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Blackstone Mortgage Trust is a real estate finance company that originates, acquires, and manages senior loans and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">debt or credit-oriented investments collateralized by or relating to commercial real estate in North America, Europe, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Australia. Our portfolio is composed primarily of senior loans secured by high-quality, institutional assets located in major<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">markets, and sponsored by experienced, well-capitalized real estate investment owners and operators. We finance our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">investments in a variety of ways, including borrowing under our credit facilities, issuing collateralized loan obligations, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">CLOs, or single-asset securitizations, asset-specific financings, syndicating senior loan participations, and corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financing, depending on our view of the most prudent financing option available for each of our investments. We are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">externally managed by BXMT Advisors L.L.C., or our Manager, a subsidiary of Blackstone Inc., or Blackstone, and are a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 472.57pt">real estate investment trust, or REIT, traded on the New York Stock Exchange, or NYSE, under the symbol &#8220;BXMT.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">We benefit from the deep knowledge, experience and information advantages of our Manager, which is a part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 99.97pt">Blackstone Real Estate. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 395pt">Blackstone Real Estate is the largest owner of commercial real estate globally with over 12,500<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.72pt">commercial assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.22pt; position: var(--position); white-space: pre; width: 420.18pt"> and a proven track record of successfully navigating market cycles and emerging stronger through<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">periods of volatility. The market-leading real estate expertise derived from the strength of the Blackstone platform deeply<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">informs our credit and underwriting process, and we believe gives us the tools to expertly manage the assets in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 376.08pt">portfolio and work with our borrowers throughout periods of economic stress and uncertainty.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.58pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">We conduct our operations as a REIT for U.S. federal income tax purposes. We generally will not be subject to U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">income taxes on our taxable income to the extent that we annually distribute all of our net taxable income to stockholders<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">and maintain our qualification as a REIT. We also operate our business in a manner that permits us to maintain an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">exclusion from registration under the Investment Company Act of 1940, as amended. We are organized as a holding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 313.08pt">company and conduct our business primarily through our various subsidiaries.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.58pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.24pt">Macroeconomic<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 126.74pt; position: var(--position); white-space: pre; width: 59.13pt"> Environment<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">During the third quarter, real estate transaction activity continued to strengthen as the recovery of commercial real estate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">from its cyclical downturn continued, further supported by the decline in construction starts and continuing low supply<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">(including in sectors in which our portfolio is concentrated, such as multifamily), as well as continuing improvement in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 113.46pt">cost and availability of debt.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.95999999999998pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">The Federal Reserve lowered interest rates in September 2025, and interest rates are likely to continue to decline.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">Continued deceleration in inflation should also encourage further lowering of interest rates, which would be constructive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 479.6pt">for real estate values. Nevertheless, the timing, direction and extent of any future interest rate changes remain uncertain.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">Earlier this year, tariff announcements in the U.S. and ongoing global trade negotiations contributed to significant<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">uncertainty and volatility of debt and equity markets. More recently, there has been greater clarity in the U.S. policy<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 714pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">environment and lower market volatility. Nevertheless, a resurfacing of policy-driven uncertainty or market volatility could<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 725.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 448.59pt">adversely affect us, our borrowers, their tenants and the value of the real estate assets related to our investments.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">58<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_124"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: underline; white-space: pre">I. Key Financial Measures and Indicators <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">As a real estate finance company, we believe the key financial measures and indicators for our business are earnings per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">share, dividends declared, Distributable Earnings, Distributable Earnings prior to charge-offs, and book value per share.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 31.69pt">For the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.85pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.04000000000002pt; position: var(--position); white-space: pre; width: 2.8pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 252.66pt; position: var(--position); white-space: pre; width: 57.5pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.32pt">basic net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.85pt">earnings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.37pt"> per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$0.37<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.2pt; position: var(--position); white-space: pre; width: 95.25pt">, declared a dividend of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 5pt">$<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 63.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">0.47<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 81pt; position: var(--position); white-space: pre; width: 80.91pt"> per share, reported <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$0.24<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.41pt; position: var(--position); white-space: pre; width: 202.62pt"> per share of Distributable Earnings, and reported <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$0.48<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.53pt; position: var(--position); white-space: pre; width: 143.94pt"> per share of Distributable Earnings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 216.08pt">prior to charge-offs. In addition, our book value as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.94pt; position: var(--position); white-space: pre; width: 20.68pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 375.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$20.99<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.12pt; position: var(--position); white-space: pre; width: 150.31pt"> per share, which is net of cumulative<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 74.08pt">CECL reserves of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$4.16<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.07999999999998pt; position: var(--position); white-space: pre; width: 41.34pt"> per share.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">As further described below, Distributable Earnings and Distributable Earnings prior to charge-offs are measures that are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">not prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">Distributable Earnings and Distributable Earnings prior to charge-offs helps us to evaluate our performance excluding the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">effects of certain transactions and GAAP adjustments that we believe are not necessarily indicative of our current loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">portfolio and operations. In addition, Distributable Earnings and Distributable Earnings prior to charge-offs are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 256.37pt">performance metrics we consider when declaring our dividends.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Earnings Per Share and Dividends Declared<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">The following table sets forth the calculation of basic net income (loss) per share and dividends declared per share ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 135.11pt">thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.61pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 280pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 336pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 336pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 336pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336pt; position: var(--position); top: 0pt; width: 159pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 159pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 43.09pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 336pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Net income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 48.95pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336pt; position: var(--position); top: 25.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">63,397<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 25.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">6,969<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 336pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-average shares outstanding, basic<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336pt; position: var(--position); top: 40.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.37pt; position: var(--position); text-decoration: none; white-space: pre">171,812,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 40.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.37pt; position: var(--position); text-decoration: none; white-space: pre">171,893,905<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 336pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Net income per share, basic<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336pt; position: var(--position); top: 55.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 56.42pt; position: var(--position)">0.37<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 55.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 56.42pt; position: var(--position)">0.04<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 355.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 313.14pt">Represents net income attributable to Blackstone Mortgage Trust. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.19pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.83pt; position: var(--position); white-space: pre; width: 121.6pt"> to our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 271.03pt">statements for the calculation of diluted net (loss) income per share.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 408.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Distributable Earnings and Distributable Earnings Prior to Charge-Offs <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">Distributable Earnings and Distributable Earnings prior to charge-offs of CECL reserves are non-GAAP measures. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">define Distributable Earnings as GAAP net income (loss), including realized gains and losses not otherwise recognized in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">current period GAAP net income (loss), and excluding (i) non-cash equity compensation expense, (ii) depreciation and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">amortization, (iii) unrealized gains (losses), and (iv) certain non-cash items. Distributable Earnings may also be adjusted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">from time to time to exclude one-time events pursuant to changes in GAAP and certain other non-cash charges as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">determined by our Manager, subject to approval by a majority of our independent directors. Distributable Earnings mirrors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">the terms of our management agreement between our Manager and us, or our Management Agreement, for purposes of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">calculating our incentive fee expense. Therefore, Distributable Earnings prior to charge-offs of CECL reserves is calculated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 409.77pt">net of the incentive fee expense that would have been recognized if such charge-offs had not occurred.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.27pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">Our CECL reserves have been excluded from Distributable Earnings consistent with other unrealized gains (losses)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">pursuant to our existing policy for reporting Distributable Earnings. We expect to only recognize such potential credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">losses in Distributable Earnings if and when such amounts are realized and deemed non-recoverable upon a realization<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.81pt">event. This is generally at the time a loan is repaid, or in the case of foreclosure, when the underlying asset is sold, but<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">realization and non-recoverability may also be concluded if, in our determination, it is nearly certain that all amounts due<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">will not be collected. The timing of any such credit loss realization in our Distributable Earnings may differ materially from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">the timing of CECL reserves or charge-offs in our consolidated financial statements prepared in accordance with GAAP.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">The realized loss amount reflected in Distributable Earnings will equal the difference between the cash received, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">expected to be received, and the book value of the asset, and is reflective of our economic experience as it relates to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 125.07pt">ultimate realization of the loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.57pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">We believe that Distributable Earnings provides meaningful information to consider in addition to our net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">and cash flow from operating activities determined in accordance with GAAP. We believe Distributable Earnings is a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">useful financial metric for existing and potential future holders of our class A common stock as historically, over time,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Distributable Earnings has been a strong indicator of our dividends per share. As a REIT, we generally must distribute<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 714.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">annually at least 90% of our net taxable income, subject to certain adjustments, and therefore we believe our dividends are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 380.72pt">one of the principal reasons stockholders may invest in our class A common stock. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.7pt">Note 17<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.92pt; position: var(--position); white-space: pre; width: 81.43pt"> to our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">financial statements for further discussion of our distribution requirements as a REIT. Further, Distributable Earnings helps<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">us to evaluate our performance excluding the effects of certain transactions and GAAP adjustments that we believe are not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">necessarily indicative of our current loan portfolio and operations, and is a performance metric we consider when declaring<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 57.19pt">our dividends.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.69pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Furthermore, we believe it is useful to present Distributable Earnings prior to charge-offs of CECL reserves to reflect our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">direct operating results and help existing and potential future holders of our class A common stock assess the performance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">of our business excluding such charge-offs. We utilize Distributable Earnings prior to charge-offs of CECL reserves as an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">additional performance metric to consider when declaring our dividends. Distributable Earnings mirrors the terms of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">Management Agreement for purposes of calculating our incentive fee expense. Therefore, Distributable Earnings prior to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">charge-offs of CECL reserves is calculated net of the incentive fee expense that would have been recognized if such<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 117.65pt">charge-offs had not occurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Distributable Earnings and Distributable Earnings prior to charge-offs of CECL reserves do not represent net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">or cash generated from operating activities and should not be considered as alternatives to GAAP net income (loss), or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">indicators of our GAAP cash flows from operations, measures of our liquidity, or indicators of funds available for our cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">needs. In addition, our methodology for calculating Distributable Earnings and Distributable Earnings prior to charge-offs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">of CECL reserves may differ from the methodologies employed by other companies to calculate the same or similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">supplemental performance measures, and accordingly, our reported Distributable Earnings and Distributable Earnings prior<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 417.27pt">to charge-offs of CECL reserves may not be comparable to similar metrics reported by other companies.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">60<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">The following table provides a reconciliation of Distributable Earnings and Distributable Earnings prior to charge-offs of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 330.76pt">CECL reserves to GAAP net income (loss) ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 83pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 342pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 40.09pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Net income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 48.95pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 34.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">63,397<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 34.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">6,969<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 124.44pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.71pt"></span></span><span style="left: 36.34pt; position: var(--position)">(42,111)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 49.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.46pt"></span></span><span style="left: 43.09pt; position: var(--position)">(45,057)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.21pt"></span></span><span style="left: 48.84pt; position: var(--position)">(987)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 64.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">45,593<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Depreciation and amortization of real estate owned<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 206.76999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 37.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">15,388<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 79.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">17,046<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-cash compensation expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)">7,302<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 94.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">7,303<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Realized hedging and foreign currency loss, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 193.24pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.71pt"></span></span><span style="left: 41.34pt; position: var(--position)">(1,511)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 109.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.96pt"></span></span><span style="left: 55.59pt; position: var(--position)">(703)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Allocable share of adjustments related to unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 260.33pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 124.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.21pt"></span></span><span style="left: 48.84pt; position: var(--position)">(990)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 124.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">1,665<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 342pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Cash (non-cash) income from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.17999999999999pt; position: var(--position); text-decoration: none; white-space: pre">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.84pt; position: var(--position); white-space: pre">, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 307.04pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.54pt"></span></span><span style="left: 57.17pt; position: var(--position)">35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 139.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.96pt"></span></span><span style="left: 55.59pt; position: var(--position)">(127)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Adjustments attributable to non-controlling interests, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 51.21pt"></span></span><span style="left: 53.84pt; position: var(--position)">(41)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 154.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.96pt"></span></span><span style="left: 60.59pt; position: var(--position)">(52)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 169.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.96pt; position: var(--position); text-decoration: none; white-space: pre">(46)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 169.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.96pt"></span></span><span style="left: 60.59pt; position: var(--position)">(11)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Distributable Earnings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">40,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 184.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">32,626<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 124.44pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 37.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">42,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 199.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">45,057<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Distributable Earnings prior to charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 214.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">82,547<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 214.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 46.42pt; position: var(--position)">77,683<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average shares outstanding, basic<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 177.96pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(7)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 229.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.54pt"></span></span><span style="left: 17.169999999999998pt; position: var(--position)">171,812,685<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 229.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 21.29pt"></span></span><span style="left: 23.919999999999998pt; position: var(--position)">171,893,905<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Distributable Earnings per share, basic<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 244.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">0.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 244.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 56.42pt; position: var(--position)">0.19<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 259.5pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Distributable Earnings per share, basic, prior to charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 259.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">0.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 259.5pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 56.42pt; position: var(--position)">0.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 362.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 374.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 46.33pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.2pt">net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.9pt"> income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.93pt; position: var(--position); white-space: pre; width: 172.56pt"> attributable to Blackstone Mortgage Trust.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 341.75pt">Represents realized losses related to loan principal amounts deemed non-recoverable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 397.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 405.52pt">Represents depreciation of REO assets and amortization of intangible real estate assets and liabilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 409.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.98pt">Represents realized losses on the repatriation of unhedged foreign currency. These amounts were not included in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 420.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 32.43pt">GAAP <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.81pt">net income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.74pt; position: var(--position); white-space: pre; width: 388.7pt">, but rather as a component of other comprehensive income in our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 432.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 44.65pt">statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.86pt">Allocable share of adjustments related to unconsolidated entities reflects our share of non-cash items such as (i)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.89pt">$(2.3) million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.39pt; position: var(--position); white-space: pre; width: 257.14pt"> of unrealized gains recorded by such unconsolidated entities,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.08pt"> (ii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.61pt; position: var(--position); white-space: pre; width: 3.88pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.23pt">$1.3 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.72pt; position: var(--position); white-space: pre; width: 83.76pt"> of depreciation and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 269.62pt">amortization, and (iii) related adjustments for realized gains, if any.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.12pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Represents (i) the non-cash income recognized under GAAP related to our Agency Multifamily Lending<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Partnership, in which we receive a portion of origination, servicing, and other fees for loans we refer to MTRCC for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">origination, offset by the related loss-sharing obligation accruals and (ii) the cash received related to such income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.56pt">previously recognized under GAAP.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.06pt; position: var(--position); white-space: pre; width: 38.02pt"> Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 270.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.11pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.19pt; position: var(--position); white-space: pre; width: 256.21pt"> to our consolidated financial statements for further information<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 28.33pt">on our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.66pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.49pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(7)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.93pt">The weighted-average shares outstanding, basic, exclude shares issuable from a potential conversion of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.89pt">Convertible Notes then outstanding. Consistent with the treatment of other unrealized adjustments to Distributable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 401.32pt">Earnings, these potentially issuable shares are excluded until a conversion occurs. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.77pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 521.5899999999999pt; position: var(--position); white-space: pre; width: 31.8pt"> to our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 336.74pt">consolidated financial statements for the calculation of diluted net income per share.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">61<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 94.64pt">Book Value Per Share<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 380.65pt">The following table calculates our book value per share ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 335.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 335.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 0pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 0pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Stockholders&#8217; equity<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">3,590,702<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">3,616,772<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Shares<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 42.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 21.29pt"></span></span><span style="left: 23.919999999999998pt; position: var(--position)">170,720,119<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 42.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 21.29pt"></span></span><span style="left: 23.919999999999998pt; position: var(--position)">171,593,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 57.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">331,611<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 57.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">323,877<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 72.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.37pt; position: var(--position); text-decoration: none; white-space: pre">171,051,730<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 72.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.37pt; position: var(--position); text-decoration: none; white-space: pre">171,917,467<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Book value per share<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.25999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 87.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">20.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 87.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">21.04<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 196.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 207pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.88pt">The book value per share excludes shares issuable from a potential conversion of our Convertible Notes then<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 218.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 88.38pt">outstanding. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.52pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.4pt; position: var(--position); white-space: pre; width: 347.06pt"> to our consolidated financial statements for the calculation of diluted net income per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 230pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 23.58pt">share.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 259.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_127"></div><div style="line-height: 10pt; position: var(--position); top: 259.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: underline; white-space: pre">II. Investments<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 78.57pt">Loan Originations<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 300.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 45.86pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.06pt">three months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.42000000000002pt; position: var(--position); white-space: pre; width: 29.2pt"> ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.18pt; position: var(--position); white-space: pre; width: 110.72pt">, we originated or acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.02pt">$945.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.42pt"> of loans, including our share<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 312pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.15pt">of a loan portfolio acquired by our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 291.34pt">The following table details our loan origination activity ($ in thousands):<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 349.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 3pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 325.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 0pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.21pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 0pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.43pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan originations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 73.39pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 21.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.04pt"></span></span><span style="left: 46.67pt; position: var(--position)">642,063<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 21.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">4,376,757<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan portfolio acquisitions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 110.85pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 36.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.12pt; position: var(--position); text-decoration: none; white-space: pre">303,001<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 36.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.12pt; position: var(--position); text-decoration: none; white-space: pre">719,410<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total originations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 51.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.04pt"></span></span><span style="left: 46.67pt; position: var(--position)">945,064<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 51.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">5,096,167<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 421.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 431.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 418.43pt">Includes new loan originations and acquisitions, and additional commitments made under existing loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.76pt">Represents our share of loans that were acquired by our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">. This reflects our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.38pt">aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 408.23pt"> ownership interest in the joint venture, which is included in investments in unconsolidated entities on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.72pt">our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.45pt">Loan Portfolio<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.1pt">Loan Portfolio Activity<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.14pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.7pt">three months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.48pt"> ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 270.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.1pt">, loan fundings totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.66pt">$496.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.07pt"> and loan repayments and sales<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.48pt">totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 88.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.89pt">$1.6&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.95pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.7pt">three months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.48pt"> ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.95pt">, we generated interest income of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.66pt">$346.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.12pt">and incurred interest expense of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$247.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.31pt">, which resulted in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$98.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.63pt; position: var(--position); white-space: pre; width: 89.32pt">&#160;of net interest income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 282.47pt">The following table details our loan portfolio activity ($ in thousands):<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 340.97pt; position: var(--position); white-space: pre; width: 3pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 590.35pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 325.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 325.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 0pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.21pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 0pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.43pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan fundings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 60.650000000000006pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 21.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.04pt"></span></span><span style="left: 46.67pt; position: var(--position)">496,791<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 21.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">3,945,271<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan repayments and sales<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 110.55pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 36.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.96pt; position: var(--position); text-decoration: none; white-space: pre">(1,641,950)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 36.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.96pt; position: var(--position); text-decoration: none; white-space: pre">(5,047,271)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 325.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 325.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total net repayments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 51.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.21pt"></span></span><span style="left: 35.84pt; position: var(--position)">(1,145,159)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 51.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.21pt"></span></span><span style="left: 35.84pt; position: var(--position)">(1,102,000)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 662.1pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.1pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 143.31pt">Excludes amounts held by our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.6pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.41pt; position: var(--position); white-space: pre; width: 170pt">, which is included in investments in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 235.54pt">unconsolidated entities on our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">62<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 378.71pt">The following table details overall statistics for our loans receivable portfolio ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 65.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 395.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.37pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 15pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Number of loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 15pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.71pt"></span></span><span style="left: 72.33999999999999pt; position: var(--position)">137<span style="display: inline-block; height: 6.93pt; width: 11.66pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 30pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Principal balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 30pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.71pt"></span></span><span style="left: 42.34pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 11.66pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 45pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.71pt"></span></span><span style="left: 42.34pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 11.66pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 60pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 119.17999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 60pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.71pt"></span></span><span style="left: 47.34pt; position: var(--position)">1,532,429<span style="display: inline-block; height: 6.93pt; width: 11.66pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average cash coupon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 128.02pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 75pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 61.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 61.71pt; position: var(--position)">+ 3.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 90.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average all-in yield<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 121.88pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 90pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 61.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 61.71pt; position: var(--position)">+ 3.46<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 90.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average maximum maturity (years)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 105pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.62pt; position: var(--position); text-decoration: none; white-space: pre">2.4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120pt; width: 395.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 395.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Origination loan-to-value (LTV)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 133.03pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 395.25pt; position: var(--position); top: 120pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 69.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 69.84pt; position: var(--position)">64.0<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 90.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 205.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 6pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 218.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">Unfunded commitments will primarily be funded to finance our borrowers&#8217; construction or development of real<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 230pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.96pt">estate-related assets, capital improvements of existing assets, or lease-related expenditures. These commitments will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 241.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 370.05pt">generally be funded over the term of each loan, subject in certain cases to an expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 253pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 264.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 442.9pt">rates, which include SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable to each investment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.4pt; position: var(--position); white-space: pre; width: 25pt"> As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 276pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.3pt; position: var(--position); white-space: pre; width: 5.79pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.42000000000002pt; position: var(--position); white-space: pre; width: 361.96pt"> of our loans by principal balance earned a floating rate of interest, primarily indexed to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 287.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 91.03pt">SOFR. The remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">2%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.86pt; position: var(--position); white-space: pre; width: 255.5pt"> of our loans by principal balance earned a fixed rate of interest.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 299pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.94pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 187.24pt">investments may be repaid prior to such date. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.72pt">Excludes loans accounted for under the cost-recovery and nonaccrual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 322pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.99pt">methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.49pt; position: var(--position); white-space: pre; width: 29.59pt">. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.07999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.4pt; position: var(--position); white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 259.9pt; position: var(--position); white-space: pre; width: 2.55pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">31%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.78pt; position: var(--position); white-space: pre; width: 272.69pt"> of our loans by principal balance were subject to yield maintenance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 333.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 147.33pt">or other prepayment restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">69%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.16pt; position: var(--position); white-space: pre; width: 232.54pt"> were open to repayment by the borrower without penalty.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 395.39pt">Based on LTV as of the dates loans were originated or acquired by us, excluding any loans that are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 38pt"> impaired<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.27pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 368.62pt"><span style="background-color: inherit"> following table details the index rate floors for our loans receivable portfolio as of </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.94pt"><span style="background-color: inherit">September&#160;30, 2025</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.5899999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.82pt"><span style="background-color: inherit"> ($ in</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.77pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt"><span style="background-color: inherit">thousands):</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 404.27pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 275.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 275.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 0pt; width: 216pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 216pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 46.83pt; position: var(--position); white-space: pre">Loans Receivable Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 275.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Index Rate Floors<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.88pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.42pt; position: var(--position); white-space: pre">Non-USD<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.27pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">180,857<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">137,149<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">318,006<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">0.00% or no floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 73.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,796,816<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">4,966,038<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">6,762,854<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">0.01% to 1.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">2,628,392<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">972,584<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">3,600,976<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">1.01% to 2.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">676,479<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,371,685<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">2,048,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2.01% to 3.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">3,791,304<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,838<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">3,931,142<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">3.01% or more floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,313,773<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">213,619<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,527,392<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 115.5pt; width: 275.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 275.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 23.7pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">10,387,621<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">7,800,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 539.77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550.02pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 424.85pt">Includes Euro, British Pound Sterling, Swedish Krona, Australian Dollar, and Canadian Dollar currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.52pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.41pt">Includes all impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573.02pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 27.76pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.8pt; position: var(--position); white-space: pre; width: 356.68pt">, the weighted-average index rate floor of our floating-rate loans receivable principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.52pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 51.47pt">balance was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.8pt; position: var(--position); white-space: pre; width: 390.68pt">. Excluding 0.0% index rate floors and loans with no floor, the weighted-average index rate floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596.02pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 18.04pt">was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.90%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.37pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">63<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 386.93pt">The following table details the floating benchmark rates for our loans receivable portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 526.23pt; position: var(--position); white-space: pre; width: 27.21pt"> (loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 207.22pt">receivable principal balance amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"/></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.43pt; width: 78.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 30.49pt; position: var(--position); white-space: pre">Loan<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 78.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.72pt; position: var(--position); white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 82.5pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.95pt; position: var(--position); text-decoration: none; white-space: pre"> Currency <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 0pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.43pt; width: 83.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.76pt; position: var(--position); white-space: pre">Loans Receivable <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 83.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.32pt; position: var(--position); white-space: pre">Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 252pt; position: var(--position); top: 0pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.43pt; width: 78pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.8pt; position: var(--position); white-space: pre">Floating Rate <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 78pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.2pt; position: var(--position); white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 45.739999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 78.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.14pt; position: var(--position); white-space: pre">Cash Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 59.55pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 78.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.48pt; position: var(--position); white-space: pre">All-in Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 56.209999999999994pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 23.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.87pt; position: var(--position); text-decoration: none; white-space: pre">103<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 82.5pt; position: var(--position); top: 23.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.87pt; position: var(--position); text-decoration: none; white-space: pre">$<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 23.25pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">10,387,621<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 252pt; position: var(--position); top: 23.25pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.25pt; position: var(--position); text-decoration: none; white-space: pre"> SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 23.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.11%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 23.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 82.5pt; position: var(--position); top: 38.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.87pt; position: var(--position); text-decoration: none; white-space: pre">&#163;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 38.25pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">2,336,656<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 252pt; position: var(--position); top: 38.25pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.72pt; position: var(--position); text-decoration: none; white-space: pre">SONIA<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 38.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.38%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 38.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.46%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 53.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 82.5pt; position: var(--position); top: 53.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8364;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 53.25pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">2,205,311<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 252pt; position: var(--position); top: 53.25pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.07pt; position: var(--position); text-decoration: none; white-space: pre">EURIBOR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 53.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.93%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 53.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.33%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.87pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 82.5pt; position: var(--position); top: 68.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.55pt; position: var(--position); text-decoration: none; white-space: pre">Various<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 68.25pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">2,071,333<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 252pt; position: var(--position); top: 68.25pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.59pt; position: var(--position); white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 47.34pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 68.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 4.02%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 68.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 4.24%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.87pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 165pt; position: var(--position); top: 83.25pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 83.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.24%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 83.25pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.33pt; position: var(--position); text-decoration: none; white-space: pre">+ 3.46%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 180.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.84pt">We use foreign currency forward contracts to protect the value or fix the amount of certain investments or cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 468pt">flows in terms of the U.S. dollar. We earn forward points on our forward contracts that reflect the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.94pt">differentials between the applicable base rate for our foreign currency investments and prevailing U.S. interest rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.94pt">These forward contracts effectively convert the foreign currency rate exposure for such investments to USD-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 238.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 97.34pt">equivalent interest rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.84pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 261.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 309.25pt">origination costs, and purchase discounts, as well as the accrual of exit fees. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.67pt">Excludes loans accounted for under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.01pt">cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.51pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 280.85pt">Includes floating rate loans indexed to STIBOR, CORRA, and BBSY <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.29pt">indices<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.64pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">64<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_130"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.03pt">The charts below detail the geographic distribution a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 270.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 224.97pt">nd types of properties securing our loan portfolio, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.93pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 16pt; position: var(--position); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 16pt; font-style: normal; font-weight: normal; left: 87.11pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Diversification<span style="display: inline-block; height: 11.09pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 115.89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 128.41pt; position: var(--position); text-decoration: none; white-space: pre">(Net Loan Exposure)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 212.76999999999998pt; position: var(--position); text-decoration: none; top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div><div style="line-height: 0pt; position: var(--position); top: 127.39pt; width: 612pt"><div style="left: 24.38pt; position: var(--position); top: 0pt"><div style="position: var(--position)"><img src="bxmt-20250930_g2.gif" alt="169" style="height: 300pt; width: 300pt" id="i-2"/></div></div></div><div style="font-size: 16pt; line-height: 16pt; position: var(--position); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 16pt; font-style: normal; font-weight: normal; left: 356.14pt; position: var(--position); white-space: pre">Collateral <span style="display: inline-block; height: 11.09pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 16pt; font-style: normal; font-weight: normal; left: 423.19pt; position: var(--position); text-decoration: none; white-space: pre">Diversification<span style="display: inline-block; height: 11.09pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 115.89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.87pt; position: var(--position); white-space: pre">(Net Loan Exposure)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 472.23pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div><div style="line-height: 0pt; position: var(--position); top: 127.39pt; width: 612pt"><div style="left: 287.63pt; position: var(--position); top: 0pt"><div style="position: var(--position)"><img src="bxmt-20250930_g3.gif" alt="223" style="height: 300pt; width: 300pt" id="i-3"/></div></div></div><div style="position: absolute; top: 432.39pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_133"></div><div style="line-height: 12pt; position: var(--position); top: 432.39pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">______________<span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 452.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 297.83pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.95pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.28pt; position: var(--position); white-space: pre; width: 110.1pt">. Our asset-specific debt is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.96pt">structurally non-recourse and term-matched to the corresponding collateral loans. Geographic locations that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 288.27pt">represent less than 1% of net loan exposure are excluded from the chart.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.77pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">Assets with multiple components are proportioned into the relevant collateral types based on the allocated value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 80.12pt">each collateral type.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 359.37pt">Refer to section VI of this Item 2 for details of our loan portfolio, on a loan-by-loan basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.87pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 568.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Portfolio Management <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 585.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 25.36pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.14pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165pt; position: var(--position); white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 167.5pt; position: var(--position); white-space: pre; width: 2.96pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">96%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.79pt; position: var(--position); white-space: pre; width: 351.2pt"> of our loans were performing with risk ratings of &#8220;1&#8221; through &#8220;4,&#8221; and the remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">4%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 597.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 207.52pt">were impaired with a risk rating of &#8220;5.&#8221; As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.59pt">, all borrowers under performing loans were in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 608.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.85pt">compliance with the applicable contractual terms of each respective loan, including any required payment of interest.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.35pt; position: var(--position); white-space: pre; width: 17.02pt"> We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">believe this demonstrates the overall strength of our loan portfolio and the commitment and financial wherewithal of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 631.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">borrowers generally, which are primarily affiliated with large real estate private equity funds and other strong, well-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 153.41pt">capitalized, and experienced sponsors.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 660.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">We maintain a robust asset management relationship with our borrowers and utilize these relationships to maximize the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">performance of our portfolio, including during periods of volatility. We believe that we benefit from these relationships and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">from our long-standing core business model of originating senior loans collateralized by large assets in major markets with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">experienced, well-capitalized institutional sponsors. While we believe the principal amounts of our loans are generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 706.69pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">adequately protected by underlying collateral value, there is a risk that we will not realize the entire principal value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 718.19pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 107.78pt">certain investments. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.98pt; position: var(--position); white-space: pre; width: 90.53pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.09pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.6pt; position: var(--position); white-space: pre; width: 156.78pt"> asset-specific CECL reserve related to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">65<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.5pt; position: var(--position); white-space: pre; width: 284.37pt"> of our loans receivable, with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.56pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.43pt; position: var(--position); white-space: pre; width: 153.07pt">, net of cost-recovery proceeds. This<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">CECL reserve was recorded based on our estimation of the fair value of each of the loan's underlying collateral as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">Our portfolio monitoring and asset management operations benefit from the deep knowledge, experience, and information<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 378.14pt">advantages derived from our position as part of Blackstone Real Estate&#8217;s real estate platform. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.72pt">Blackstone Real Estate is the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.05pt">largest owner of commercial real estate globally with over 12,500 commercial assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.55pt; position: var(--position); white-space: pre; width: 129.95pt"> and a proven track record of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">successfully navigating market cycles and emerging stronger through periods of volatility. The market-leading real estate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">expertise derived from the strength of the Blackstone platform deeply informs our credit and underwriting process, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">gives us the tools to expertly asset manage our portfolio and work with our borrowers throughout periods of economic<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 89.06pt">stress and uncertainty.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.56pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 65.07pt">As discussed in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 123.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.62pt; position: var(--position); white-space: pre; width: 402.88pt"> to our consolidated financial statements, we perform a quarterly review of our loan portfolio, assess<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">the performance of each loan, and assign it a risk rating between &#8220;1&#8221; and &#8220;5&#8221;, from less risk to greater risk. Our loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 188.95pt">portfolio had a weighted-average risk rating of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">3.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.95pt; position: var(--position); white-space: pre; width: 44.42pt"> as of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.59pt; position: var(--position); white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.56pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">The following table allocates the net book value and net loan exposure balances based on our internal risk ratings ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.58pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 276.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 200.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 104.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 104.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 200.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.63pt; position: var(--position); text-decoration: none; white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.52pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 12.75pt; width: 104.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.26pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 12.75pt; width: 104.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 104.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.01pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 82.18pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.63pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 25.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 25.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 60.04pt"></span></span><span style="left: 67.67pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 25.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 60.04pt"></span></span><span style="left: 67.67pt; position: var(--position)">408,355<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.63pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 40.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 40.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.54pt"></span></span><span style="left: 60.17pt; position: var(--position)">3,173,245<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 40.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.54pt"></span></span><span style="left: 60.17pt; position: var(--position)">3,007,691<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.63pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 55.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.5pt; position: var(--position); text-decoration: none; white-space: pre">80<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 55.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.54pt"></span></span><span style="left: 55.17pt; position: var(--position)">10,578,120<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 55.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.54pt"></span></span><span style="left: 55.17pt; position: var(--position)">10,087,715<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.63pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 70.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 70.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.54pt"></span></span><span style="left: 60.17pt; position: var(--position)">2,732,203<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 70.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.54pt"></span></span><span style="left: 60.17pt; position: var(--position)">2,619,771<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 47.63pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 85.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 85.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.54pt"></span></span><span style="left: 60.17pt; position: var(--position)">1,174,152<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 85.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 65.04pt"></span></span><span style="left: 67.67pt; position: var(--position)">670,206<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 203.25pt; position: var(--position); top: 100.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 100.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 47.54pt"></span></span><span style="left: 55.17pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 390pt; position: var(--position); top: 100.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 47.54pt"></span></span><span style="left: 55.17pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 115.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 115.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 62.46pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 130.5pt; width: 200.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 200.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282pt; position: var(--position); top: 130.5pt; width: 104.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 104.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 47.54pt"></span></span><span style="left: 55.17pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 426.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 448.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 297.83pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.95pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.28pt; position: var(--position); white-space: pre; width: 110.1pt">. Our asset-specific debt is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 471.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 325.42pt">structurally non-recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 500.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Current Expected Credit Loss Reserve <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">The CECL reserves required by GAAP reflect our current estimate of potential credit losses related to our loans and notes<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">receivable included in our consolidated balance sheets. Other than a few narrow exceptions, GAAP requires that all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">financial instruments subject to the CECL model have some amount of loss reserve to reflect the principle underlying the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 552.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.83pt">CECL model that all loans and similar assets have some inherent risk of loss, regardless of credit quality, subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 138.69pt">capital, or other mitigating factors.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 47.66pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.39pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.55pt; position: var(--position); white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.48pt; position: var(--position); white-space: pre; width: 83.58pt">, we recorded a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.43pt; position: var(--position); white-space: pre; width: 15.47pt"> of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.92pt">$45.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.82pt; position: var(--position); white-space: pre; width: 92.5pt"> in the CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 249.38pt">against our loans receivable portfolio, primarily driven by a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.8pt">$53.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.68pt; position: var(--position); white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.5pt; position: var(--position); white-space: pre; width: 152.89pt"> in our asset-specific CECL reserves,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 195.28pt">including charge-offs of our CECL reserves of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 253.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.75pt">$42.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.53pt; position: var(--position); white-space: pre; width: 98.38pt">. This was offset by an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.75pt">$8.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.66pt; position: var(--position); white-space: pre; width: 3.4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.77pt; position: var(--position); white-space: pre; width: 60.69pt"> in our general<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 275.53pt">CECL reserves, bringing our total loans receivable CECL reserve to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.94pt; position: var(--position); white-space: pre; width: 24.33pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.34pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.61pt; position: var(--position); white-space: pre; width: 23.15pt">. The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 234.97pt">in our general CECL reserves was primarily as a result of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.9pt">an increase in the historical loss rate used in reserve calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.73pt">as a result of additional CECL charge-offs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 147.23pt">The charge-offs primarily related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.72pt; position: var(--position); white-space: pre; width: 332.77pt"> previously impaired loans secured by a hospitality asset in New York, NY and an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 331.88pt">office asset in Atlanta, GA, that were resolved and transferred to REO during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.05pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.43pt; position: var(--position); white-space: pre; width: 2.9pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.02pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 412.59pt">pursuant to loan modifications that resulted in us consolidating the collateral assets. Refer to Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.09pt; position: var(--position); white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.56pt; position: var(--position); white-space: pre; width: 45.89pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.67pt">information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">66<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 215.62pt">receivable, with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.3pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.42pt; position: var(--position); white-space: pre; width: 233.08pt">, net of cost-recovery proceeds, and a concentration in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 73.87pt">office sector with <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.34pt">$382.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.71pt; position: var(--position); white-space: pre; width: 52.53pt"> of reserves, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 309.14pt">generally driven by reduced tenant and capital markets demand in the office<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">sector in recent years. Impairments are each determined individually as a result of changes in the specific credit quality<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">factors for such loans. These factors included, among others, (i) the underlying collateral performance, (ii) discussions with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">the borrower, (iii) borrower events of default, and (iv) other facts that impact the borrower&#8217;s ability to pay the contractual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.59pt">amounts due under the terms of the loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.09pt; position: var(--position); white-space: pre; width: 331.33pt"> This CECL reserve was recorded based on our estimation of the fair value of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 158pt">of the loan's underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.72pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.22pt">No<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 70.72pt; position: var(--position); white-space: pre; width: 445.1pt"> income was recorded on our impaired loans subsequent to determining that they were impaired. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515.8199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.61pt">three and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.7pt; position: var(--position); white-space: pre; width: 64.15pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.31pt; position: var(--position); white-space: pre; width: 114.32pt">, we received an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.97pt">$9.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 386.6pt; position: var(--position); white-space: pre; width: 21.67pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.97pt">$39.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.24pt; position: var(--position); white-space: pre; width: 90.19pt">, respectively, of cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 436.38pt">proceeds from such loans that were applied as a reduction to the amortized cost basis of each respective loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.88pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 25.06pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.09pt">, all borrowers under performing loans were in compliance with the applicable contractual terms<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.38pt">of each respective loan, including any required payment of interest.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.88pt; position: var(--position); white-space: pre; width: 37.45pt"> Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.25pt; position: var(--position); white-space: pre; width: 161.17pt"> to our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 338.84pt">for further discussion of our policies on revenue recognition and our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 245.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Real Estate Owned<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">As part of our portfolio management strategy to maximize economic outcomes, we may hold certain real estate owned, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">REO, assets resulting from transactions in which we assume legal title, physical possession, or control of the collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">underlying a loan through a foreclosure, a deed-in-lieu of foreclosure transaction, or a loan modification in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 363.32pt">receive an equity interest in and/or control over decision-making at the property. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.12pt; position: var(--position); white-space: pre; width: 39.2pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 543.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 192.54pt">REO assets with an aggregate carrying value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.12pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 338.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Multifamily Joint Venture <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 28.84pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.95999999999998pt; position: var(--position); white-space: pre; width: 170.24pt">, our Multifamily Joint Venture held a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.05pt">$43.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.9pt"> loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420.15pt; position: var(--position); white-space: pre; width: 133.35pt">, which is included in the loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 101.32pt">disclosures above. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.6pt; position: var(--position); white-space: pre; width: 175.67pt">, our Multifamily Joint Venture also held a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.13pt">$32.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.4pt; position: var(--position); white-space: pre; width: 82.96pt"> REO asset. Refer to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.42pt; position: var(--position); white-space: pre; width: 381.24pt"> to our consolidated financial statements for further discussion of our multifamily joint venture.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 408.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 208.81pt">In the second quarter of 2024, we entered into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.61pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.92pt; position: var(--position); white-space: pre; width: 118.43pt"> that allows our borrowers to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">access multifamily agency financing through MTRCC&#8217;s Fannie Mae DUS and Freddie Mac Optigo lending platforms. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">will receive a portion of origination, servicing, and other fees for loans that we refer to MTRCC for origination under both<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">the Fannie Mae and Freddie Mac programs. Additionally, we will share in losses with MTRCC and Fannie Mae on loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 305.81pt">that we refer to MTRCC for origination under the Fannie Mae program. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.16pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.13pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.82pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.04pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.26pt">, we referred <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.7pt"> loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.24pt"> to MTRCC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 513pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.69pt">In the fourth quarter of 2024, we entered into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.32pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.87pt"> with a Blackstone-advised investment vehicle to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.78pt">invest in triple net lease properties. Our investment in the joint venture is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.22pt"> recorded on our consolidated balance sheets as an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.72pt">investment in unconsolidated entities. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, our investment in unconsolidated entities related to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.93pt">joint venture totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.18pt">$77.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.51pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.83pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.88pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.64pt"> we contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.18pt">$76.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.63pt"> to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.19pt">joint venture, did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 148.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.37pt"> receive any distributions, and recorded a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.9pt">$1.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 380.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.55pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.55pt">loss<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.6pt"> from unconsolidated entities in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.59pt">consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 617.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.31pt">In the second quarter of 2025, we entered into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.56pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.02pt"> with a Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.76pt">investment vehicle. In the second quarter of 2025, the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.82pt"> acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.58pt">$1.4&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.97pt"> portfolio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 15pt">171<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.68pt"> performing senior commercial real estate loans from a regional bank. The loans are secured primarily by retail and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">multifamily properties located across various markets in the Mid-Atlantic region, are primarily fixed rate, and were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.12pt">acquired at a discount to par. In the third quarter of 2025, the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.68pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.01pt"> acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.08pt">$606.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.56pt">portfolio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 15pt">425<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 123.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.37pt"> performing senior commercial real estate loans from a regional bank. The loans are secured primarily by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">net lease retail assets located throughout the United States, are fixed rate, and were acquired at a discount to par. We have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.25pt">an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 130.07999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.42pt"> ownership interest in the joint venture as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">67<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.52pt">Our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 77.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.64pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 335.81pt"> is recorded on our consolidated balance sheets as an investment in unconsolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.08pt">entities. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.23pt">, our investment in the joint venture totaled <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.12pt">$104.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.33pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.4pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.32pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 86.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.61pt">, we contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.67pt">$102.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.43pt"> to the joint venture, did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.42pt"> receive any distributions, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.45pt">recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt">$2.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt"> of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.4pt">income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 297.44pt"> from unconsolidated entities in our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Loan Portfolio Financing<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">Our loan portfolio financing consists of secured debt, securitizations, and asset-specific debt. The following table details<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 160.71pt">our portfolio financing ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 324.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 83.25pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 324.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 0pt; width: 170.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 170.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.93pt; position: var(--position); text-decoration: none; white-space: pre">Portfolio Financing<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 170.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.5pt; position: var(--position); text-decoration: none; white-space: pre">Outstanding Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 324.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 21pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 21pt; width: 83.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 324.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 33.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 33.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 324.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitizations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 48.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 48.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 324.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-specific debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 63.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.04pt"></span></span><span style="left: 46.67pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 63.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 324.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 324.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loan portfolio financing<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 324.75pt; position: var(--position); top: 78.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">12,657,639<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411.75pt; position: var(--position); top: 78.75pt; width: 83.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 83.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">12,870,606<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 281.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 57.44pt">Secured Debt<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 403.77pt">The following table details our secured credit facilities by spread over the applicable base rates as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.51pt; position: var(--position); white-space: pre; width: 10.84pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.85pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 321.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 107.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 0pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.56pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 107.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.49pt; width: 107.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 27.05pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 21pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.52pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 63.91pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 21pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 21pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 21pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 21pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 21pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 53.25pt; width: 107.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 107.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">+ <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.760000000000002pt; position: var(--position); text-decoration: none; white-space: pre">1.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.59pt; position: var(--position); white-space: pre"> or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 53.25pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.79pt"></span></span><span style="left: 35.42pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 53.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 53.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 53.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 53.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 53.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 107.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 107.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">+ <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.760000000000002pt; position: var(--position); text-decoration: none; white-space: pre">1.51%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.59pt; position: var(--position); white-space: pre"> to + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.49pt; position: var(--position); text-decoration: none; white-space: pre">1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 68.25pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 68.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 68.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 68.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 68.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 68.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 107.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 107.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">+ <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.760000000000002pt; position: var(--position); text-decoration: none; white-space: pre">1.76%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.59pt; position: var(--position); white-space: pre"> to + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.49pt; position: var(--position); text-decoration: none; white-space: pre">2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 83.25pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 83.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 83.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 83.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 83.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 83.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 98.25pt; width: 107.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 107.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">+ <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.760000000000002pt; position: var(--position); text-decoration: none; white-space: pre">2.01%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.59pt; position: var(--position); white-space: pre"> or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 98.25pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">137,147<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 98.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 98.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 98.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 98.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 98.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 113.25pt; width: 107.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 107.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 110.25pt; position: var(--position); top: 113.25pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.79pt"></span></span><span style="left: 35.42pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 113.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 113.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 113.25pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 113.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 113.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 456pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 467.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.19pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.69pt; position: var(--position); white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.98pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.7pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 502pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 513.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 525pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 548pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 200.44pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.76pt; position: var(--position); white-space: pre; width: 186.61pt"> and is not necessarily indicative of the spread<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 165.92pt">applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">68<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 63.26pt">Securitizations<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">We have financed certain pools of our loans through CLOs. The following table details our securitized debt obligations and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 316.86pt">the underlying collateral assets that are financed by our CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 375.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 106pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 128.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 36.58pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.94pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.8pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.04pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.94pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.04pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.04pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.04pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); top: 371.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 381.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 393pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 404.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 416pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 427.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 439pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 450.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 462pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 473.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 485pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); white-space: pre; width: 62.49pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 496.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 520pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 39.75pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.32pt">Note 8<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.57pt; position: var(--position); white-space: pre; width: 24.23pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.32pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.12pt; position: var(--position); white-space: pre; width: 367.24pt"> to our consolidated financial statements for additional details of our securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 531.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 46.9pt">obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">69<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 82.41pt">Asset-Specific Debt<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 140.91pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 147.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 140.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 151.5pt; position: var(--position); top: 12.75pt; width: 63pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 218.25pt; position: var(--position); top: 12.75pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.11pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.33pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.97pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.72pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 63.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.44pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.86pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.82pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 147.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 151.5pt; position: var(--position); top: 34.5pt; width: 63pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 218.25pt; position: var(--position); top: 34.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 34.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 25.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 25.71pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 54.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.94pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 147.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 151.5pt; position: var(--position); top: 49.5pt; width: 63pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 218.25pt; position: var(--position); top: 49.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 49.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 25.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 25.71pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 54.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.94pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 163.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 300.09pt">The weighted-average all-in yield and cost are expressed as a spread ov<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.83pt">er the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 186.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 199.98pt">which include SOFR and CORRA, as applicable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 209.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 221pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 232.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 244pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 89.65pt">Corporate Financing<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 148.15pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 322.44pt">The following table details our outstanding corporate financing ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 380.94pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 302.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 335.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 335.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 0pt; width: 159.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 159.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 44.02pt; position: var(--position); text-decoration: none; white-space: pre">Corporate Financing<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 159.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.25pt; position: var(--position); text-decoration: none; white-space: pre">Outstanding Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 335.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 21pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 21pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 33.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 33.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 48.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 48.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 63.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 63.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 335.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total corporate financing<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 78.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">2,859,600<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 78.75pt; width: 78pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">2,815,910<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">70<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">The following table details our outstanding senior term loan facilities, or Term Loans, our outstanding Senior Secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 385.84pt">Notes, or Senior Secured Notes, and convertible senior notes, or Convertible Notes, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 444.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.46pt; position: var(--position); white-space: pre; width: 25pt"> ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 160.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 9.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 9.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 90pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 160.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Corporate Financing<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.89pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.54pt; position: var(--position); white-space: pre">Interest Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 54.15pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.28pt; position: var(--position); white-space: pre">All-in Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.35pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 0pt; width: 90pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 27.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 27.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 27.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 42.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 23.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 42.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 42.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 42.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 57.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 57.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 57.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 31.71pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 31.71pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 57.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total term loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 72.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 102.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 102.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 102.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 102.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 117.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 117.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 117.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 117.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 117.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total senior secured notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 132.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Convertible Notes<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.6pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 162.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 162.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">5.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 162.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 39.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 39.84pt; position: var(--position)">5.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 60.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405pt; position: var(--position); top: 162.75pt; width: 90pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 90pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.79pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177.75pt; width: 160.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 160.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total corporate financings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 164.25pt; position: var(--position); top: 177.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.04pt"></span></span><span style="left: 25.669999999999998pt; position: var(--position)">2,859,600<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 115.15pt">The B-6 Term Loan and the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.19pt">B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">Includes issue discounts, transaction expenses, and/or issuance costs, as applicable, that are amortized through<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 232.16pt">interest expense over the life of each respective financing.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.61pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.69pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.63pt; position: var(--position); white-space: pre; width: 40.03pt"> Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.78pt">Note&#160;12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.44pt; position: var(--position); white-space: pre; width: 119.96pt"> to our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 138.17pt">statements for further information.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 223.67pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 203.72pt">The conversion price of the Convertible Notes is <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$36.27<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 316.72pt; position: var(--position); white-space: pre; width: 236.76pt">, which represents the price of class A common stock per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 157.18pt">share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.18pt; position: var(--position); white-space: pre; width: 278.27pt">. The conversion rate represents the number of shares of class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.97pt">common stock issuable per $1,000 principal amount of Convertible Notes. The cumulative dividend threshold has<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.27pt; position: var(--position); white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.65pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 35.47pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.18pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.15pt; position: var(--position); white-space: pre; width: 5.26pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Note 11<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.59pt; position: var(--position); white-space: pre; width: 5.26pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Note&#160;12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.03pt; position: var(--position); white-space: pre; width: 22.45pt">, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 250.66pt; position: var(--position); white-space: pre; width: 302.81pt"> to our consolidated financial statements for further discussion of our Term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 213.4pt">Loans, Senior Secured Notes, and Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 488.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Floating Rate Loan Portfolio<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Generally, our business model is such that rising interest rates will increase our net income, while declining interest rates<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 137.8pt">will decrease net income. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.34pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.64pt; position: var(--position); white-space: pre; width: 6.56pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.53pt; position: var(--position); white-space: pre; width: 58.99pt"> of our loans <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.17pt">by principal balance <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.69pt; position: var(--position); white-space: pre; width: 101.65pt">earned a floating rate of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">interest, primarily indexed to SOFR, and were financed with liabilities that pay interest at floating rates, which resulted in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">an amount of net equity that is positively correlated to rising interest rates, subject to the impact of interest rate floors on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 552.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 130.94pt">certain of our floating rate loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Our liabilities are generally currency and index-matched to each collateral asset, resulting in a net exposure to movements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 463.02pt">in benchmark rates that varies by currency silo based on the relative proportion of floating rate assets and liabilities.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 521.52pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">71<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 411.84pt">The following table details our investment portfolio&#8217;s exposure to interest rates by currency as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.08pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 96.04pt">(amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.54000000000002pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 480pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 210pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 210pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 210pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.63pt; position: var(--position); white-space: pre">USD<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 40.61pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.41pt; position: var(--position); white-space: pre">GBP<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 40.84pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.19pt; position: var(--position); white-space: pre">EUR<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 41.06pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.28pt; position: var(--position); white-space: pre">All Other<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 45.910000000000004pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 210pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 210pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Floating rate loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 76.97999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)(3)(4)(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">8,975,881<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,224,306<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,205,311<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,071,333<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 210pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 210pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Floating rate portfolio financings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 134.98pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)(5)(6)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 27.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.21pt"></span></span><span style="left: 17.84pt; position: var(--position)">(6,900,576)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 27.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.21pt"></span></span><span style="left: 17.84pt; position: var(--position)">(1,685,131)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 27.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.21pt"></span></span><span style="left: 17.84pt; position: var(--position)">(1,564,506)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 27.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.21pt"></span></span><span style="left: 17.84pt; position: var(--position)">(1,655,445)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 210pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 210pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Floating rate corporate financings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 137.73pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(7)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 42.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.21pt"></span></span><span style="left: 17.84pt; position: var(--position)">(2,258,126)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 42.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 42.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 42.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 210pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 210pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Net floating rate exposure<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(182,821)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">539,175<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">640,805<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">415,888<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 210pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 210pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Net floating rate exposure in USD<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 156.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(8)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.71pt"></span></span><span style="left: 25.34pt; position: var(--position)">(182,821)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">724,974<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">751,920<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">415,888<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 170.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.93pt">Our floating rate loans and related liabilities are currency and index-matched to the applicable benchmark rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 118.14pt">relevant in each arrangement.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 39.12pt">Excludes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.7pt; position: var(--position); white-space: pre; width: 125.95pt"> of floating rate impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Our loan agreements generally require our borrowers to purchase interest rate caps, which mitigates our borrowers&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 157pt">exposure to an increase in interest rates<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.5pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 286.05pt">Excludes amounts related to our investments in unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.97pt">Includes amounts outstanding under secured debt, securitizations, and asset-specific debt. Excludes amounts related<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 200.06pt">to the indebtedness of our unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(7)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 232.74pt">Includes amounts outstanding under Term Loans and the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.91pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.15pt; position: var(--position); white-space: pre; width: 171.22pt"> Senior Secured Notes. In connection with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 82.21pt">the issuance of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.70999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.95pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.66pt; position: var(--position); white-space: pre; width: 320.74pt"> Senior Secured Notes, we entered into an interest rate swap with a notional<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 43.3pt">amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 128.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$450.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.65pt; position: var(--position); white-space: pre; width: 343.77pt"> to effectively convert our fixed rate exposure to floating rate exposure for such notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(8)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 172.86pt">Represents the U.S. dollar equivalent as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.58000000000004pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">In addition to the risks related to fluctuations in cash flows and asset values associated with movements in interest rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">there is also the risk of non-performance on floating rate assets. In the case of a significant increase in interest rates, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">cash flows of the collateral real estate assets may not be sufficient to pay debt service due under our loans, which may<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">contribute to non-performance or, in severe cases, default. This risk is partially mitigated by our consideration of rising rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">stress-testing during our underwriting process, which generally includes a requirement for our borrower to purchase an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 406.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">interest rate cap contract with an unaffiliated third party, provide an interest reserve deposit, and/or provide interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.66pt">guarantees or other structural protections.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.16pt; position: var(--position); white-space: pre; width: 55.13pt"> During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.6pt"><span style="background-color: inherit"> ended </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.96pt"><span style="background-color: inherit">September&#160;30, 2025</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.08pt"><span style="background-color: inherit">, interest rate caps on</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.43pt">$6.5&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 122.17pt"><span style="background-color: inherit"> of performing loans, with a </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><span style="background-color: inherit">3.7%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.14pt"><span style="background-color: inherit"> weighted-average strike price, expired and </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><span style="background-color: inherit">93%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.04pt"><span style="background-color: inherit"> were replaced with new</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.25pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.77pt"><span style="background-color: inherit">interest rate caps, with a weighted-average strike price of </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><span style="background-color: inherit">3.8%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.72pt"><span style="background-color: inherit">, or interest </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.71pt"><span style="background-color: inherit">guarantees</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit">.</span><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">72<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_148"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: underline; white-space: pre">III. Our Results of Operations <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Operating Results<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">The following table sets forth information regarding our consolidated results of operations for the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.12pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); white-space: pre"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.15pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.97pt; position: var(--position); white-space: pre"> ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 112pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 287.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 287.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 35.96pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 0pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.9pt; position: var(--position); text-decoration: none; white-space: pre">Change<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 287.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 12.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.25pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.03pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 12.75pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28pt; position: var(--position); text-decoration: none; white-space: pre">$<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Interest and related income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 48.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">345,959<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 48.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">359,537<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 48.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.46pt"></span></span><span style="left: 25.09pt; position: var(--position)">(13,578)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Less: Interest and related expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 63.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">247,055<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 63.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.29pt"></span></span><span style="left: 33.92pt; position: var(--position)">264,727<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 63.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 22.46pt"></span></span><span style="left: 25.09pt; position: var(--position)">(17,672)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments, net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 78.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">98,904<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 78.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">94,810<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 78.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 33.42pt; position: var(--position)">4,094<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 93.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">33,733<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 93.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">38,812<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 93.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.46pt"></span></span><span style="left: 30.09pt; position: var(--position)">(5,079)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 108.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.87pt; position: var(--position); text-decoration: none; white-space: pre">74<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 108.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.87pt; position: var(--position); text-decoration: none; white-space: pre">231<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 108.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.96pt"></span></span><span style="left: 37.59pt; position: var(--position)">(157)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total net revenues<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 123.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.37pt; position: var(--position); text-decoration: none; white-space: pre">132,711<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 123.75pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.37pt; position: var(--position); text-decoration: none; white-space: pre">133,853<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 123.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,142)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138.75pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 153pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Management and incentive fees<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 153pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">16,849<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 153pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">17,036<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 153pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.96pt"></span></span><span style="left: 37.59pt; position: var(--position)">(187)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 168pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">General and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 168pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">12,747<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 168pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">13,526<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 168pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.96pt"></span></span><span style="left: 37.59pt; position: var(--position)">(779)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 183pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 183pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">43,100<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 183pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">47,796<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 183pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.46pt"></span></span><span style="left: 30.09pt; position: var(--position)">(4,696)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 198pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.79pt"></span></span><span style="left: 61.42pt; position: var(--position)">6<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 198pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.79pt"></span></span><span style="left: 56.42pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 198pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.29pt"></span></span><span style="left: 50.92pt; position: var(--position)">6<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 213pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">72,702<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 213pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">78,358<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 213pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.46pt"></span></span><span style="left: 30.09pt; position: var(--position)">(5,656)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Decrease (increase) in current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 228pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">987<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 228pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.96pt"></span></span><span style="left: 35.59pt; position: var(--position)">(45,593)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 228pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.79pt"></span></span><span style="left: 28.419999999999998pt; position: var(--position)">46,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 243pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 243pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 43.92pt; position: var(--position)">3,924<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 243pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 37.96pt"></span></span><span style="left: 40.59pt; position: var(--position)">(2,015)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 243pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 33.42pt; position: var(--position)">5,939<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 258pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income before income taxes<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 258pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">64,920<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 258pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 43.92pt; position: var(--position)">7,887<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 258pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.79pt"></span></span><span style="left: 28.419999999999998pt; position: var(--position)">57,033<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 273pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income tax provision<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 273pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 43.92pt; position: var(--position)">1,512<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 273pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.79pt"></span></span><span style="left: 51.42pt; position: var(--position)">903<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 273pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.29pt"></span></span><span style="left: 40.92pt; position: var(--position)">609<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 288pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 288pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">63,408<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 288pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 43.92pt; position: var(--position)">6,984<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 288pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.79pt"></span></span><span style="left: 28.419999999999998pt; position: var(--position)">56,424<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 303pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income attributable to non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 303pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 50.46pt"></span></span><span style="left: 53.09pt; position: var(--position)">(11)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 303pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 50.46pt"></span></span><span style="left: 53.09pt; position: var(--position)">(15)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 303pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.29pt"></span></span><span style="left: 50.92pt; position: var(--position)">4<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 318pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income attributable to Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 318pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.29pt"></span></span><span style="left: 38.92pt; position: var(--position)">63,397<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 318pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.29pt"></span></span><span style="left: 43.92pt; position: var(--position)">6,969<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 318pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.79pt"></span></span><span style="left: 28.419999999999998pt; position: var(--position)">56,428<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 333pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income per share of common stock, basic and diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 333pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 48.92pt; position: var(--position)">0.37<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 333pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 48.92pt; position: var(--position)">0.04<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 333pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">0.33<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 362.25pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-average shares of common stock outstanding, basic and <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 362.25pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.87pt; position: var(--position); text-decoration: none; white-space: pre">171,812,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 362.25pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.87pt; position: var(--position); text-decoration: none; white-space: pre">171,893,905<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 362.25pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.96pt"></span></span><span style="left: 42.59pt; position: var(--position)">(81)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 388.5pt; width: 287.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 287.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared per share<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 287.25pt; position: var(--position); top: 388.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 48.92pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 388.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.29pt"></span></span><span style="left: 48.92pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 388.5pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.29pt"></span></span><span style="left: 45.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 532pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments, net<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 191.03pt">Income from loans and other investments, net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.24pt; position: var(--position); white-space: pre; width: 8.31pt">d <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.66pt">$4.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.21pt; position: var(--position); white-space: pre; width: 48.23pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.87pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.31pt; position: var(--position); white-space: pre; width: 3.31pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 68.39pt">compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.27pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.16pt; position: var(--position); white-space: pre; width: 3.01pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.84pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.01pt; position: var(--position); white-space: pre; width: 5.51pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.54pt">The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.73pt"> was primarily driven by (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.5pt; position: var(--position); white-space: pre; width: 7.44pt">a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.36pt">$555.4 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.3pt; position: var(--position); white-space: pre; width: 48.16pt"> decrease in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 410.24pt">the weighted-average principal balance of our outstanding financing arrangements during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.69pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.92000000000002pt; position: var(--position); white-space: pre; width: 71.76pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.45pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.13pt; position: var(--position); white-space: pre; width: 3.1pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.02pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.25pt; position: var(--position); white-space: pre; width: 45.96pt">, and (ii) a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.45pt">$3.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.66pt; position: var(--position); white-space: pre; width: 106.78pt"> increase as a result of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 474.88pt">receipt of unaccrued default interest upon repayment of a loan that was previously in maturity default during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.8pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.3pt; position: var(--position); white-space: pre; width: 3.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 201.05pt; position: var(--position); white-space: pre; width: 352.31pt">. This was offset by a decrease in the weighted-average principal balance of our loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.97pt">portfolio by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$681.2 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.32pt; position: var(--position); white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.25pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.09pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.17pt">Revenue from real estate owned<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 186.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 84.14pt">Revenue from REO <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.01pt; position: var(--position); white-space: pre; width: 21.52pt">d by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.61pt">$5.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.14pt; position: var(--position); white-space: pre; width: 48.08pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.77pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 375.99pt; position: var(--position); white-space: pre; width: 3.26pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.74pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.99pt; position: var(--position); white-space: pre; width: 72.4pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 677pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.82pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.61pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.53pt"> The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 299.94pt"> was primarily due to seasonality of the operations at our hospitality assets.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">73<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 54.66pt">Other income<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Other income relates to origination, servicing, and other fees recognized in connection with our Agency Multifamily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.85pt">Lending Partnership.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.35pt; position: var(--position); white-space: pre; width: 59.77pt"> Other income <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.49pt; position: var(--position); white-space: pre; width: 20.08pt">d by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$157,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.07pt; position: var(--position); white-space: pre; width: 45.92pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.33pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.32pt; position: var(--position); white-space: pre; width: 2.54pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 501.16pt; position: var(--position); white-space: pre; width: 52.24pt"> compared to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 16.69pt">the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.23pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.42000000000002pt; position: var(--position); white-space: pre; width: 4.49pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.8pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.71pt; position: var(--position); white-space: pre; width: 6.99pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.23pt">as a result of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.43pt"> loan referrals pursuant to the Agency Multifamily Lending<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.73pt">Partnership during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.23000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.53pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.64pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 227pt"> that were originated and sold by MTRCC, compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 538.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.56pt">corresponding loan referral during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.25pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.82pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 349.63pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 37.17pt">Expenses<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Expenses include management and incentive fees payable to our Manager, general and administrative expenses, expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.57pt">from real estate owned, and other expenses.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 252.07pt; position: var(--position); white-space: pre; width: 5.63pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.37pt">Expenses <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.44pt; position: var(--position); white-space: pre; width: 26.26pt">d by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.98pt">$5.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.68pt; position: var(--position); white-space: pre; width: 55.19pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.51pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.26pt; position: var(--position); white-space: pre; width: 72.44pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.79pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.49pt; position: var(--position); white-space: pre; width: 3.27pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.36pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.12pt; position: var(--position); white-space: pre; width: 92.85pt"> primarily due to (i) a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.34pt; position: var(--position); white-space: pre; width: 73.08pt"> in expenses from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">real estate owned primarily due to lower operating expenses at certain of our REO assets, and (ii) a decrease in general and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 317.4pt">administrative expenses, primarily due to lower professional services expenses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 190.31pt">Changes in current expected credit loss reserve<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 248.81pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.58pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.31pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.53pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.65pt">, we recorded a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.88pt">$1.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.53pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.82pt"> in our CECL reserves, as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.56pt">compared to a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.34pt">$45.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.97pt">&#160;increase during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.23pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.8pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.01pt">. The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.27pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 501.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.38pt">three months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.85pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.21000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.56pt"> is primarily due to a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 253.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.2pt">$53.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.85pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.36pt"> in our asset-specific CECL reserves, primarily as a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.31pt">result of the resolution of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.15pt"> previously impaired loans. The charge-offs primarily related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.41pt"> previously impaired<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">loans secured by a hospitality asset in New York, NY and an office asset in Atlanta, GA, that were resolved and transferred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.93pt">to REO during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.69pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 214.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.72pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.66pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 255.88pt"> pursuant to loan modifications that resulted in us consolidating<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.35pt">the collateral assets. This decrease was partially offset by an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.16pt">$8.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.94pt"> in our general CECL reserves driven by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.63pt">an increase in the historical loss rate used in reserve calculations as a result of additional CECL charge-offs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.86pt"><span style="background-color: inherit">We</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 72.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 481.05pt"> may be required to record further increases to our CECL reserves in the future, depending on the performance of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">portfolio and broader market conditions, and there may be volatility in the level of our CECL reserves. In particular, our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">loans secured by office buildings have experienced higher levels of CECL reserves and may continue to do so if market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">conditions relevant to office buildings do not improve. Any such reserve increases are difficult to predict, but are expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">to be primarily the result of incremental loan impairments resulting from changes in the specific credit quality factors of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.09pt">such loans and to be concentrated in our loans receivable with a risk rating of &#8220;4&#8221; as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.59pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.31pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.81pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 448.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.39pt">Income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 48.52pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.02000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.25pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.27pt; position: var(--position); white-space: pre; width: 4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.49pt; position: var(--position); white-space: pre; width: 61.1pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.4pt">income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.99pt; position: var(--position); white-space: pre; width: 137.08pt"> from unconsolidated entities of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.35pt">$3.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 92.02pt">compared to a loss of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.66pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.18pt; position: var(--position); white-space: pre; width: 48.23pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.87pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.28pt; position: var(--position); white-space: pre; width: 3.31pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.44pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.03pt; position: var(--position); white-space: pre; width: 164.38pt">. This increase was primarily due to our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 104.67pt">share of income from our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.24pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.40999999999997pt; position: var(--position); white-space: pre; width: 28.38pt"> as the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.49pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.28pt; position: var(--position); white-space: pre; width: 2.62pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.36pt; position: var(--position); white-space: pre; width: 61.08pt"> reflected a full<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 229.45pt">quarter of income recognition related to the portfolio our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.71pt; position: var(--position); white-space: pre; width: 70.48pt"> acquired in June.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 84.36pt">Income tax provision<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 105.73pt">The income tax provision <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.23000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.71pt">increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 201.94pt; position: var(--position); white-space: pre; width: 15.42pt"> by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$609,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.86pt; position: var(--position); white-space: pre; width: 46.43pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.67pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.96pt; position: var(--position); white-space: pre; width: 2.71pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.31pt; position: var(--position); white-space: pre; width: 70.2pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.86pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.36pt; position: var(--position); white-space: pre; width: 4.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.96pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.89pt; position: var(--position); white-space: pre; width: 372.56pt"> primarily due to an increase in the income tax provisions related to our taxable REIT<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.67pt">subsidiaries.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 81.04pt">Dividends per share<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 139.54000000000002pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.9pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.63pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.69pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.11pt"> we declared dividends of $<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">0.47<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.43pt"> per share, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 484.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.04pt">$80.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.46pt"> in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.98pt">aggregate. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.01pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.38pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.58pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.06pt">, we declared dividends of $<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">0.47<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.57pt"> per share, or&#160; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.73pt">$80.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.15pt"> in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.32pt">aggregate.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">74<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 416.03pt">The following table sets forth information regarding our consolidated results of operations for the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.87pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.15pt; position: var(--position); white-space: pre; width: 158.71pt"> ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.86pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 285.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 285.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 0pt; width: 145.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 145.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 0pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.9pt; position: var(--position); text-decoration: none; white-space: pre">Change<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 285.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 12.75pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28pt; position: var(--position); text-decoration: none; white-space: pre">$<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Interest and related income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 39.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">1,037,553<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 39.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">1,382,367<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 39.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 12.46pt"></span></span><span style="left: 20.09pt; position: var(--position)">(344,814)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Less: Interest and related expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 54.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 34.67pt; position: var(--position)">754,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 54.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 27.169999999999998pt; position: var(--position)">1,004,854<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 54.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 17.46pt"></span></span><span style="left: 20.09pt; position: var(--position)">(250,839)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Income from loans and other investments, net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 69.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 34.67pt; position: var(--position)">283,538<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 69.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 34.67pt; position: var(--position)">377,513<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 69.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 22.46pt"></span></span><span style="left: 25.09pt; position: var(--position)">(93,975)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 84.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 34.67pt; position: var(--position)">109,578<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 84.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)">1,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 84.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">108,364<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 99.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">395<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 99.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.54pt"></span></span><span style="left: 57.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 99.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">395<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Gain on extinguishment of debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 114.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.54pt"></span></span><span style="left: 57.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 114.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)">5,352<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 114.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.21pt; position: var(--position); text-decoration: none; white-space: pre">(5,352)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total net revenues<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 129.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.12pt; position: var(--position); text-decoration: none; white-space: pre">393,511<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 129.75pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.12pt; position: var(--position); text-decoration: none; white-space: pre">384,079<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 129.75pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.87pt; position: var(--position); text-decoration: none; white-space: pre">9,432<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144.75pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Management and incentive fees<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 159pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">51,120<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 159pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">56,258<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 159pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.21pt; position: var(--position); text-decoration: none; white-space: pre">(5,138)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 174pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">General and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 174pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">38,937<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 174pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">40,811<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 174pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,874)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 189pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 189pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.12pt; position: var(--position); text-decoration: none; white-space: pre">137,198<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 189pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">3,647<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 189pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">133,551<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 204pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 204pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 63.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 204pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 204pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 52.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 219pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Total expenses<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 219pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.12pt; position: var(--position); text-decoration: none; white-space: pre">227,261<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 219pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 36.12pt; position: var(--position); text-decoration: none; white-space: pre">100,716<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 219pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">126,545<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 234pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Increase in current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 234pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.46pt; position: var(--position); text-decoration: none; white-space: pre">(94,111)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 234pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.46pt; position: var(--position); text-decoration: none; white-space: pre">(519,747)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 234pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">425,636<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 249pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">1,035<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 249pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 249pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.87pt; position: var(--position); text-decoration: none; white-space: pre">1,035<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 264pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income (loss) before income taxes<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 264pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">73,174<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 264pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.46pt; position: var(--position); text-decoration: none; white-space: pre">(236,384)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 264pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">309,558<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 279pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Income tax provision<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 279pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">3,133<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 279pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">2,832<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 279pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">301<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 294pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">70,041<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 294pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.46pt; position: var(--position); text-decoration: none; white-space: pre">(239,216)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 294pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">309,257<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income attributable to non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 309pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.96pt; position: var(--position); text-decoration: none; white-space: pre">(32)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 309pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.46pt; position: var(--position); text-decoration: none; white-space: pre">(2,063)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 309pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.87pt; position: var(--position); text-decoration: none; white-space: pre">2,031<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 324pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss) attributable to Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 324pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 32.04pt"></span></span><span style="left: 39.67pt; position: var(--position)">70,009<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 324pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.71pt"></span></span><span style="left: 31.34pt; position: var(--position)">(241,279)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 324pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.79pt"></span></span><span style="left: 23.419999999999998pt; position: var(--position)">311,288<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss) per share of common stock, basic and diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 339pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">0.41<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 339pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(1.39)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 339pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">1.80<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 368.25pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-average shares of common stock outstanding, basic and <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">diluted<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 368.25pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.62pt; position: var(--position); text-decoration: none; white-space: pre">171,903,127<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 368.25pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.62pt; position: var(--position); text-decoration: none; white-space: pre">173,881,116<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 368.25pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,978)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 394.5pt; width: 285.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 285.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared per share<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 394.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">1.41<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360pt; position: var(--position); top: 394.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">1.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 394.5pt; width: 60pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.46pt"></span></span><span style="left: 35.09pt; position: var(--position)">(0.30)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 509.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Income from loans and other investments, net <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 527pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 189.42pt">Income from loans and other investments, net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.37pt">decreased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.28999999999996pt; position: var(--position); white-space: pre; width: 3.08pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$94.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.87pt; position: var(--position); white-space: pre; width: 79.47pt"> million during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.65pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.99pt; position: var(--position); white-space: pre; width: 3.08pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 71.27pt">compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.43pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.2pt; position: var(--position); white-space: pre; width: 3.97pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.16pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.33000000000004pt; position: var(--position); white-space: pre; width: 25.97pt">. The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.67pt; position: var(--position); white-space: pre; width: 197.69pt"> was primarily due to (i) a decrease in average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 126.92pt">floating rate indices during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.21pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261.63pt; position: var(--position); white-space: pre; width: 2.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.43pt; position: var(--position); white-space: pre; width: 70.8pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.21pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.44pt; position: var(--position); white-space: pre; width: 2.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.08pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); white-space: pre; width: 29.48pt">, (ii) a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.97999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.03pt">$3.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.01pt; position: var(--position); white-space: pre; width: 348.31pt"> decrease in the weighted-average principal balance of our loan portfolio during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.08pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.91pt; position: var(--position); white-space: pre; width: 71.8pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.71pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.42pt; position: var(--position); white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.97pt; position: var(--position); white-space: pre; width: 153.49pt">, and (iii) a decline in interest income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">related to additional loans accounted for under the cost-recovery method or loans that are now accounted for as REO assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 46.08pt">during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.27pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.85pt; position: var(--position); white-space: pre; width: 3.89pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 83pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.74pt; position: var(--position); white-space: pre; width: 74.92pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.27pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.93pt; position: var(--position); white-space: pre; width: 3.89pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 83pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.82pt; position: var(--position); white-space: pre; width: 43.58pt">. This was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.78pt">offset by a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.78pt">$2.6&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.06pt; position: var(--position); white-space: pre; width: 397.36pt"> decrease in the weighted-average principal balance of our outstanding financing arrangements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 619pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 43.3pt">during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.29000000000002pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.01pt; position: var(--position); white-space: pre; width: 69.36pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.86pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.58pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 128.17pt">Revenue from real estate owned<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 83.69pt">Revenue from REO <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.71pt">increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.9pt; position: var(--position); white-space: pre; width: 16.22pt"> by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.46pt">$108.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 255.58pt; position: var(--position); white-space: pre; width: 47.63pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.21000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.71pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.92pt; position: var(--position); white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.47pt; position: var(--position); white-space: pre; width: 71.8pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 677.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.01pt; position: var(--position); white-space: pre; width: 101.56pt"> due to the acquisition of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt">seven<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.32pt; position: var(--position); white-space: pre; width: 90.72pt"> additional REO assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">75<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 125.44pt">Gain on extinguishment of debt<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 140.28pt">Gain on extinguishment of debt de<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.94pt">creased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.72pt; position: var(--position); white-space: pre; width: 15.72pt"> by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.21pt">$5.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.65pt; position: var(--position); white-space: pre; width: 46.88pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.21pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.74pt; position: var(--position); white-space: pre; width: 2.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.54pt; position: var(--position); white-space: pre; width: 52.88pt"> compared to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 17.29pt">the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.67pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.45999999999998pt; position: var(--position); white-space: pre; width: 5.09pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.4pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.95pt; position: var(--position); white-space: pre; width: 225.85pt">. There was no debt repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.67pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.82pt; position: var(--position); white-space: pre; width: 50.67pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.59pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.08000000000004pt; position: var(--position); white-space: pre; width: 2.55pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.95pt; position: var(--position); white-space: pre; width: 205.51pt"> we recognized a gain on extinguishment of debt of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.9pt">$5.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.83pt"> related to the repurchase of an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.9pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.05pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.9pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.03pt">, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.9pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.38pt">, of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.21pt">our Convertible Notes, Senior Secured Notes, and B-1 Term Loan, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 37.17pt">Expenses<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Expenses include management and incentive fees payable to our Manager, general and administrative expenses, expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 191.47pt">from real estate owned, and other expenses.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.97pt; position: var(--position); white-space: pre; width: 48.3pt"> Expenses <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.71pt">increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.98pt; position: var(--position); white-space: pre; width: 20.56pt"> by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.63pt">$126.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.17pt; position: var(--position); white-space: pre; width: 54.14pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.14pt; position: var(--position); white-space: pre; width: 70.2pt"> compared to the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.91pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.25pt; position: var(--position); white-space: pre; width: 2.71pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.96000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.64pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 368.6pt; position: var(--position); white-space: pre; width: 79.85pt">, primarily due to a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.06pt">$133.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.51pt; position: var(--position); white-space: pre; width: 45.9pt"> increase in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 239.79pt">expenses from real estate owned due to the acquisition of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt">seven<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.04pt; position: var(--position); white-space: pre; width: 232.3pt"> additional REO assets. This was partially offset by (i) a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.42pt">$5.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.92pt; position: var(--position); white-space: pre; width: 445.52pt"> decrease in management fees payable to our Manager, driven primarily by lower Distributable Earnings, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 23.79pt">(ii) a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.93pt">$1.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.22pt; position: var(--position); white-space: pre; width: 3.58pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.17000000000002pt; position: var(--position); white-space: pre; width: 244.39pt"> in general and administrative expenses primarily due to a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.93pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.49pt; position: var(--position); white-space: pre; width: 88.96pt"> decrease in non-cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 365.63pt">restricted stock amortization related to shares awarded under our long-term incentive plans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 190.31pt">Changes in current expected credit loss reserve<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.52pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.02000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.51pt; position: var(--position); white-space: pre; width: 4.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.23pt; position: var(--position); white-space: pre; width: 71.53pt">, we recorded a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.85pt">$94.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.61pt; position: var(--position); white-space: pre; width: 149.88pt"> increase in our CECL reserves, as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 62.27pt">compared to a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.77000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.91pt">$519.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.68pt; position: var(--position); white-space: pre; width: 85.25pt">&#160;increase during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.61pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.54pt; position: var(--position); white-space: pre; width: 3.56pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.34pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.44pt; position: var(--position); white-space: pre; width: 106.84pt">. The increase during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.45pt; position: var(--position); white-space: pre; width: 2.66pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.65pt; position: var(--position); white-space: pre; width: 355.82pt"> is primarily due to an increase in our asset-specific CECL reserves, primarily as a result<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.07pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.53pt; position: var(--position); white-space: pre; width: 191.13pt"> additional loans that were impaired during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.63pt; position: var(--position); white-space: pre; width: 2.74pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.07pt; position: var(--position); white-space: pre; width: 5.24pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.32pt"><span style="background-color: inherit">Two</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.63pt; position: var(--position); white-space: pre; width: 89.7pt"> of the loans that were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 83.37pt">impaired during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.87pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.74pt; position: var(--position); white-space: pre; width: 3.19pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.53pt; position: var(--position); white-space: pre; width: 249.93pt"> were secured by office assets, and one was secured by a life<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 92.67pt">sciences / studio asset.<span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #ee2724; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.43pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 398.83pt">The office sector has generally faced reduced tenant and capital markets demand in recent years.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Impairments are each determined individually as a result of changes in the specific credit quality factors for such loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">These factors included, among others, (i) the underlying collateral performance, (ii) discussions with the borrower, (iii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">borrower events of default, and (iv) other facts that impact the borrower&#8217;s ability to pay the contractual amounts due under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.78pt">the terms of the loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.28pt; position: var(--position); white-space: pre; width: 406.08pt"> Additionally, we recorded an increase in our general CECL reserves as a result of changes in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 75.17pt">historical loss rate.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.86pt"><span style="background-color: inherit">We</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 72.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 481.05pt"> may be required to record further increases to our CECL reserves in the future, depending on the performance of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">portfolio and broader market conditions, and there may be volatility in the level of our CECL reserves. In particular, our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">loans secured by office buildings have experienced higher levels of CECL reserves and may continue to do so if market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">conditions relevant to office buildings do not improve. Any such reserve increases are difficult to predict, but are expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">to be primarily the result of incremental loan impairments resulting from changes in the specific credit quality factors of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.09pt">such loans and to be concentrated in our loans receivable with a risk rating of &#8220;4&#8221; as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.59pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.31pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.81pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 145.68pt">Income from unconsolidated entities<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.2pt">Income from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); white-space: pre; width: 17.99pt"> of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 229.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.18pt">$1.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.87pt; position: var(--position); white-space: pre; width: 226.04pt"> primarily represents our share of income from our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.45pt">Bank Loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.76pt">Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.26pt; position: var(--position); white-space: pre; width: 193.17pt">, offset by the acquisition costs incurred by our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 140pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 484.43pt; position: var(--position); white-space: pre; width: 68.92pt"> in acquiring two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 213.56pt">portfolios of commercial mortgage loans during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.81pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.87pt; position: var(--position); white-space: pre; width: 3.16pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.57pt; position: var(--position); white-space: pre; width: 119.91pt">. Additionally, this represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 147.9pt">our share of the loss incurred by the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.53pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.93pt; position: var(--position); white-space: pre; width: 46.52pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.42pt; position: var(--position); white-space: pre; width: 2.74pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.86pt; position: var(--position); white-space: pre; width: 43.51pt">, driven by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 252.32pt">depreciation of the underlying real estate assets owned by the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.1pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.92pt; position: var(--position); white-space: pre; width: 144.55pt">. There was no income or loss from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 137.62pt">unconsolidated entities during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.61pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.33pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 84.36pt">Income tax provision<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 108.93pt">The income tax provision <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.71pt">increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.14pt; position: var(--position); white-space: pre; width: 17.02pt"> by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$301,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.65999999999997pt; position: var(--position); white-space: pre; width: 48.83pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 386pt; position: var(--position); white-space: pre; width: 3.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.75pt; position: var(--position); white-space: pre; width: 81.72pt"> as compared to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.89pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.39pt; position: var(--position); white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.21pt; position: var(--position); white-space: pre; width: 328.14pt">, due to an increase in the income tax provisions related to our taxable REIT<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.67pt">subsidiaries.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 81.04pt">Dividends per share<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 49.66pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.63pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.79pt; position: var(--position); white-space: pre; width: 4.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.72pt; position: var(--position); white-space: pre; width: 118.01pt">, we declared dividends of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$1.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.23pt; position: var(--position); white-space: pre; width: 62.95pt"> per share, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.92pt">$241.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.1pt; position: var(--position); white-space: pre; width: 12.34pt"> in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 89.94pt">aggregate. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 148.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.89pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.33pt; position: var(--position); white-space: pre; width: 2.7pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.65pt; position: var(--position); white-space: pre; width: 108.66pt">, we declared dividends of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$1.71<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.81pt; position: var(--position); white-space: pre; width: 55.47pt"> per share, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">$296.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 721pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 51.59pt">in aggregate.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">76<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_151"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: underline; white-space: pre">IV. Liquidity and Capital Resources<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Capitalization <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">We have capitalized our business to date primarily through the issuance and sale of shares of our class A common stock,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 200.02pt">corporate debt, and asset-level financings. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 340.16pt; position: var(--position); white-space: pre; width: 155pt">, our capitalization structure included <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.79pt">$3.6&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.95pt; position: var(--position); white-space: pre; width: 11.54pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 69.54pt">common equity, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 128.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.13pt">$2.9 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.17000000000002pt; position: var(--position); white-space: pre; width: 102.93pt"> of corporate debt, and $<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 278.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.13pt">12.7 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.23pt; position: var(--position); white-space: pre; width: 127.89pt"> of asset-level financings. Our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.13pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.25pt; position: var(--position); white-space: pre; width: 53.15pt"> of corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 59.25pt">debt includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.96pt">$1.8 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.70999999999998pt; position: var(--position); white-space: pre; width: 120.43pt"> of Term Loan borrowings, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.73pt">$785.3 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.87pt; position: var(--position); white-space: pre; width: 133.12pt"> of Senior Secured Notes, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 479.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.73pt">$266.2 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.72pt; position: var(--position); white-space: pre; width: 12.71pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 103.22pt">Convertible Notes. Our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.48pt">$12.7 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 215.2pt; position: var(--position); white-space: pre; width: 149.88pt"> of asset-level financings includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.48pt">$9.5 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.56pt; position: var(--position); white-space: pre; width: 78.14pt"> of secured debt, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.48pt">$2.5 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.1800000000001pt; position: var(--position); white-space: pre; width: 13.23pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 80.77pt">securitizations, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.43pt">$629.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.7pt; position: var(--position); white-space: pre; width: 354.64pt"> of asset-specific debt, all of which are structured to produce term, currency, and index<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 333.53pt">matched funding with no margin call provisions based upon capital markets events.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.8pt"><span style="background-color: inherit">As of </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.58pt"><span style="background-color: inherit">September&#160;30, 2025</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.62pt"><span style="background-color: inherit">, we had </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.26pt">$1.3 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.68pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.05pt"><span style="background-color: inherit">of liquidity that can be used to satisfy our short-term cash requirements and</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.1pt"><span style="background-color: inherit">as working capital for our business.</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.43pt"><span style="background-color: inherit">See Notes </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt"><span style="background-color: inherit">7</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.35pt"><span style="background-color: inherit">, </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt"><span style="background-color: inherit">8</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.35pt"><span style="background-color: inherit">, </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt"><span style="background-color: inherit">9</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.35pt"><span style="background-color: inherit">, </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.98000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><span style="background-color: inherit">11</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.98000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.35pt"><span style="background-color: inherit">, </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 148.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><span style="background-color: inherit">12</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.63pt"><span style="background-color: inherit">, and </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.95999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt"><span style="background-color: inherit">13</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.08pt"><span style="background-color: inherit"> to our co</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.04pt; position: var(--position); white-space: pre; width: 323.28pt">nsolidated financial statements for additional details regarding our secured debt,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 484.12pt">securitized debt obligations, asset-specific debt, Term Loans, Senior Secured Notes, and Convertible Notes, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 201.81pt">Debt-to-Equity Ratio and Total Leverage Ratio<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 306.82pt">The following table presents our debt-to-equity ratio and total leverage ratio:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 292.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 490.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 339.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 339.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 339.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 339.75pt; position: var(--position); top: 0pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Debt-to-equity ratios<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.14pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Debt-to-equity ratio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 90.25pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 339.75pt; position: var(--position); top: 27.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">3.5x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">3.5x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Adjusted debt-to-equity ratio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 126.61pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 339.75pt; position: var(--position); top: 42.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">2.9x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">3.0x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total leverage ratios<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 84.71pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Total leverage ratio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 88.82pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 339.75pt; position: var(--position); top: 72.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">4.2x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">4.0x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 339.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 339.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Adjusted total leverage ratio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 124.07pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 339.75pt; position: var(--position); top: 87.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.62pt; position: var(--position); text-decoration: none; white-space: pre">3.5x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">3.4x<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 400.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 409.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.98pt">The debt and leverage amounts included in the calculations above use gross outstanding principal balances,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 266.93pt">excluding any unamortized deferred financing costs and discounts.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.43pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 432.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.91pt">Represents, in each case at period end, the ratio of (i) total outstanding secured debt, asset-specific debt, Term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 444.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 324.36pt">Loans, Senior Secured Notes, and convertible notes, less cash, to (ii) total equity.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.91pt">Represents, in each case at period end, the ratio of (i) total outstanding secured debt, asset-specific debt, Term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 467.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.88pt">Loans, Senior Secured Notes, and convertible notes, less cash, to (ii) Adjusted Equity. Adjusted Equity is a non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 468pt">GAAP financial measure. Refer to &#8220;Adjusted Debt-to-Equity Ratio and Adjusted Total Leverage Ratio&#8221; below for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 273.83pt">the definition of Adjusted Equity and a reconciliation to total equity.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.88pt">Represents, in each case at period end, the ratio of (i) total outstanding secured debt, securitizations, asset-specific<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 513.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 370.69pt">debt, Term Loans, Senior Secured Notes, and convertible notes, less cash, to (ii) total equity.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.88pt">Represents, in each case at period end, the ratio of (i) total outstanding secured debt, securitizations, asset-specific<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.92pt">debt, Term Loans, Senior Secured Notes, and convertible notes, less cash, to (ii) Adjusted Equity. Adjusted Equity is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">a non-GAAP financial measure. Refer to &#8220;Adjusted Debt-to-Equity Ratio and Adjusted Total Leverage Ratio&#8221; below<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 287.99pt">for the definition of Adjusted Equity and a reconciliation to total equity.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 263.89pt">Adjusted Debt-to-Equity Ratio and Adjusted Total Leverage Ratio<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 322.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 606.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">Our adjusted debt-to-equity and total leverage ratios are measures that are not prepared in accordance with GAAP, as they<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">are calculated using Adjusted Equity, which we define as our total equity, excluding the aggregate CECL reserves on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 200.87pt">loans receivable and unfunded loan commitments.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 652.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">We believe that Adjusted Equity provides meaningful information to consider in addition to our total equity determined in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 664.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">accordance with GAAP in the context of assessing our debt-to-equity and total leverage ratios. The adjusted debt-to-equity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 675.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">and total leverage ratios are metrics we use, in addition to our unadjusted debt-to-equity and total leverage ratios, when<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 687.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">evaluating our capitalization structure, as Adjusted Equity excludes the unrealized impact of our CECL reserves, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">may vary from quarter-to-quarter as our loan portfolio changes and market and economic conditions evolve. We believe<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 710.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">these ratios, and therefore our Adjusted Equity, are useful financial metrics for existing and potential future holders of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">77<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">class A common stock to consider when evaluating how our business is capitalized and the relative amount of leverage in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 45.81pt">our busines<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">Adjusted Equity does not represent our total equity and should not be considered as an alternate to GAAP total equity. In<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">addition, our methodology for calculating Adjusted Equity may differ from methodologies employed by other companies<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">to calculate the same or similar supplemental measures, and accordingly, our reported Adjusted Equity may not be<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 258.32pt">comparable to the Adjusted Equity reported by other companies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 431.8pt">The following table provides a reconciliation of Adjusted Equity to our GAAP total equity ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 342pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 0pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.44pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total equity<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">3,597,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 12.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">3,794,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Add back: aggregate CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 27.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">711,608<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">746,495<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Adjusted Equity<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 42.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">4,309,011<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">4,540,684<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 86.61pt">Sources of Liquidity<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 145.11pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Our primary sources of liquidity include cash and cash equivalents, available borrowings under our secured debt facilities,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 482.19pt">and net receivables from servicers related to loan repayments, which are set forth in the following table ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.69pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 297.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 342pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 342pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 0pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.44pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 12.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Available borrowings under secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 27.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">844,070<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,111,206<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 342pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 342pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan principal payments held by servicer, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 185.46pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 42.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 41.17pt; position: var(--position)">94,315<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 41.92pt; position: var(--position)">74,313<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342pt; position: var(--position); top: 57.75pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">1,316,306<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 418.5pt; position: var(--position); top: 57.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,509,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 375.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.99pt">Represents loan principal payments held by our third-party servicer as of the balance sheet date which were remitted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 397pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 338.15pt">to us during the subsequent remittance cycle, net of the related secured debt balance.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 420.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.78pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.75pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.63pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.48pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.25pt">, we generated cash flow from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.98pt">operating activities of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.98pt">$139.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.06pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 432pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.65pt">received <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.41pt">$4.8 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 307.59pt"> from loan principal collections, sales proceeds, and cost-recovery proceeds.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.15pt; position: var(--position); white-space: pre; width: 104.24pt"> Furthermore, we are able<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">to generate incremental liquidity through provisions of certain of our CLOs, which allow us to effectively replace a repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">loan in the CLO by replenishment, increasing the principal amount of existing CLO collateral assets, or reinvestment,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">purchasing an equal amount of new eligible CLO collateral, to maintain the aggregate amount of collateral assets in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 175.63pt">CLO, and the related financing outstanding.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">We have access to further liquidity through public and private offerings of equity and debt securities, syndicated term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 513pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 128.16pt">loans, and similar transactions. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 366.69pt">To facilitate public offerings, in July 2025, we filed a shelf registration statement with the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.59pt">SEC that is effective for a term of three years and expires in July 2028. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.09pt; position: var(--position); white-space: pre; width: 200.31pt">The amount of securities to be issued pursuant to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">this shelf registration statement was not specified when it was filed and there is no specific dollar limit on the amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">securities we may issue. The securities covered by this registration statement include: (i) class A common stock; (ii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">preferred stock; (iii) depositary shares representing preferred stock; (iv) debt securities; (v) warrants; (vi) subscription<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">rights; (vii) purchase contracts; and (viii) units consisting of one or more of such securities or any combination of these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">securities. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 365.67pt">in detail in a prospectus supplement, or other offering materials, at the time of any offering.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">We may also access liquidity through our dividend reinvestment plan and direct stock purchase plan, under which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">9,966,682<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.5pt; position: var(--position); white-space: pre; width: 272.45pt"> shares of class A common stock were available for issuance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.15pt; position: var(--position); white-space: pre; width: 101.2pt">, and our &#8220;at the market&#8221;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 326.71pt">stock offering program, pursuant to which we may sell, from time to time, up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$480.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 444.38pt; position: var(--position); white-space: pre; width: 109pt"> of additional shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 117.7pt">class A common stock as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.34pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.53999999999996pt; position: var(--position); white-space: pre; width: 41.63pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.16999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.48pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.65pt; position: var(--position); white-space: pre; width: 221.69pt"> to our consolidated financial statements for additional<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 663pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 28.56pt">details.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">78<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.74pt">Uses of Liquidity<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">In addition to funding our lending and other investment activity and our general operating expenses, our primary uses of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 279pt">liquidity include interest and principal payments with respect to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.68pt">$9.5 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.18pt; position: var(--position); white-space: pre; width: 169.27pt"> of outstanding borrowings under secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 401.54pt">debt, our asset-specific debt, our Term Loans, our Senior Secured Notes, and our Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.04pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.3pt">In July 2024, our board of directors authorized the repurchase of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.02pt">$150.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.52pt"> of our class A common stock. Under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">transactions, in agreements and arrangements structured in a manner consistent with Rules 10b-18 and 10b5-1 under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Exchange Act or otherwise. The timing and the actual amounts repurchased will depend on a variety of factors, including<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.42pt">discontinued at any time and does not have a specified expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.26pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.23pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.37pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.53pt">, we repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">2,653,583<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.58pt"> shares of class A common stock at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.28pt">weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$17.97<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.13pt">, for a total cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 326.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.58pt">$47.7 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.63pt">. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.13pt">, the amount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.27pt">remaining available for repurchases under the program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.42pt">$73.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.57pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.72pt">In October 2025, we repurchased an additional<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">3,336,416<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 338.73pt"> shares of class A common stock at a weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.38<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.6pt">, for a total cost of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$61.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.14pt">, such that the amount remaining available for repurchases under the program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$11.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.78pt">. Following<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">these repurchases, our board of directors amended the program, such that, as of the date of this filing, we are authorized to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.54pt">repurchase up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$150.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.05pt"> of our class A common stock under the program, as amended.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">From time to time we have repurchased and may continue to repurchase our outstanding debt or shares of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">common stock. Such repurchases, if any, will depend on prevailing market conditions, our liquidity requirements,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">contractual restrictions, and other factors. The amounts involved in any such purchase transactions, individually or in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.65pt">aggregate, may be material.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 24.68pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.64pt; position: var(--position); white-space: pre; width: 144.76pt">, we had unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.2pt">$1.5 billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.6pt; position: var(--position); white-space: pre; width: 42.79pt"> related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">57<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.39pt; position: var(--position); white-space: pre; width: 87.02pt"> loans receivable and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.97pt">$800.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 415.26pt">of committed or identified financing for those commitments resulting in net unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.02pt">$732.3 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.78pt; position: var(--position); white-space: pre; width: 5.17pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">unfunded loan commitments comprise funding for capital expenditures and construction, leasing costs, and interest and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">carry costs. Loan funding commitments are generally subject to certain conditions, including, without limitation, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.29pt">progress of capital projects, leasing, and cash flows at the properties securing our loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420.79pt; position: var(--position); white-space: pre; width: 132.6pt"> Therefore, the exact timing and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">amounts of such future loan fundings are uncertain and will depend on the current and future performance of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">underlying collateral assets. We expect to fund our loan commitments over the remaining term of the related loans, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 200.61pt">have a weighted-average future funding period of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.08pt">2.1 years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.19pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">79<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 185.19pt">Contractual Obligations and Commitments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 243.69pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 207.26pt">Our contractual obligations and commitments as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.98pt; position: var(--position); white-space: pre; width: 134.89pt"> were as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 180pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 60pt"/></tr><tr style="height: 12pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 180pt"><div><div style="line-height: 7pt; position: var(--position); top: 4.14pt; width: 180pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 7pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 4.85pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 0pt; width: 60pt"><div><div style="line-height: 7pt; position: var(--position); top: 4.14pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 7pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 4.85pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 0pt; width: 251.25pt"><div><div style="line-height: 7pt; position: var(--position); top: 4.25pt; width: 251.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 7pt; font-style: normal; font-weight: bold; left: 100.66pt; position: var(--position); text-decoration: none; white-space: pre">Payment Timing<span style="display: inline-block; height: 4.74pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12pt; width: 180pt"><div><div style="line-height: 7pt; position: var(--position); top: 13.89pt; width: 180pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 7pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 4.85pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 12pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.79pt; position: var(--position); text-decoration: none; white-space: pre">Obligation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 12pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 60pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.34pt; position: var(--position); white-space: pre">Less Than<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.53pt; position: var(--position); white-space: pre">1 Year<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.4pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 12pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.67pt; position: var(--position); text-decoration: none; white-space: pre">1 to 3<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.01pt; position: var(--position); text-decoration: none; white-space: pre">Years<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 12pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.67pt; position: var(--position); text-decoration: none; white-space: pre">3 to 5<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.01pt; position: var(--position); text-decoration: none; white-space: pre">Years<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 12pt; width: 60pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); text-decoration: none; white-space: pre">More Than<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.01pt; position: var(--position); text-decoration: none; white-space: pre">5 Years<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Unfunded loan commitments<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 107.57pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 33.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 13.13pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">1,532,429<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 33.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">430,678<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 33.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">739,088<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 33.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">352,038<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 33.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 31.509999999999998pt; position: var(--position)">10,625<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Principal repayments under secured debt<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 148.99pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 48pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 48pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">1,586,786<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 48pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">5,013,671<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 48pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">2,947,875<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 48pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Principal repayments under asset-specific debt<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 169.96pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 62.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 62.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 62.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 28.88pt"></span></span><span style="left: 31.509999999999998pt; position: var(--position)">76,548<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 62.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">553,342<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 62.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 76.5pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Principal repayments of term loans<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 128.52pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 76.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 76.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">324,282<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 76.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 28.88pt"></span></span><span style="left: 31.509999999999998pt; position: var(--position)">30,030<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 76.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">460,479<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 76.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">993,336<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90.75pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Principal repayments of senior secured notes<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 90.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 90.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 90.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 90.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 90.75pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Principal repayments of convertible notes<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 152.5pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 105pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 105pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 105pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 105pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 105pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 44.63pt"></span></span><span style="left: 47.260000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 119.25pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Interest payments<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.32pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(3)(6)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 119.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 17.63pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">2,074,860<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 119.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">732,584<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 119.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">876,018<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 119.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 24.38pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">450,229<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 119.25pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 28.88pt"></span></span><span style="left: 31.509999999999998pt; position: var(--position)">16,029<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 133.5pt; width: 180pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 180pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 21.61pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(7)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 180pt; position: var(--position); top: 133.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">16,645,111<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 243.75pt; position: var(--position); top: 133.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 13.13pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">3,074,330<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 307.5pt; position: var(--position); top: 133.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 13.13pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">7,336,828<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 371.25pt; position: var(--position); top: 133.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 13.13pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">5,213,963<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 133.5pt; width: 60pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 13.13pt"></span></span><span style="left: 20.259999999999998pt; position: var(--position)">1,019,990<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 247.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.95pt">Represents known and estimated short-term cash requirements related to our contractual obligations and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 270.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.97pt">commitments. Refer to &#8220;Sources of Liquidity&#8221; above for information about our sources of funds to satisfy our short-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 281.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 95.7pt">term cash requirements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.2pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 293.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 468pt">The allocation of our unfunded loan commitments is based on the earlier of the commitment expiration date or the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 419.46pt">final loan maturity date, however we may be obligated to fund these commitments earlier than such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">Our secured debt and asset-specific debt agreements are generally term-matched to their underlying collateral.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 327.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.87pt">Therefore, the allocation of both principal and interest payments under such agreements is generally allocated based<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 339.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.86pt">on the maximum maturity date of the collateral loans, assuming all extension options are exercised by the borrower.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 350.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 315.67pt">In limited instances, the maturity date of the respective debt agreement is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 362.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 274.79pt">The Term Loans are partially amortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.12pt; position: var(--position); white-space: pre; width: 172.3pt"> per annum of the initial principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 161.05pt">due in quarterly installments. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.1pt">Note 11<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.65pt; position: var(--position); white-space: pre; width: 273.71pt"> to our consolidated financial statements for further details on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 51.05pt">Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.55pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.95pt">Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.69pt; position: var(--position); white-space: pre; width: 339.88pt"> to our consolidated financial statements for further details on our Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.9pt">Represents interest payments on our secured debt, asset-specific debt, Term Loans, Senior Secured Notes, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 431.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.88pt">convertible notes. Future interest payment obligations are estimated assuming the interest rates in effect as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.22pt; position: var(--position); white-space: pre; width: 386.28pt"> will remain constant into the future. This is only an estimate as actual amounts borrowed and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 132.03pt">interest rates will vary over time.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(7)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 92.72pt">Total does not include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.37pt">$2.5&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.59pt; position: var(--position); white-space: pre; width: 328.85pt"> of consolidated securitized debt obligations, as the satisfaction of these liabilities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 149.02pt">will not require cash outlays from us.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">We are also required to settle our foreign exchange and interest rate derivatives with our derivative counterparties upon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">maturity which, depending on foreign currency exchange and interest rate movements, may result in cash received from or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">due to such counterparties. The table above does not include these amounts as they are not fixed and determinable. Refer to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.42pt; position: var(--position); white-space: pre; width: 343.99pt"> to our consolidated financial statements for details regarding our derivative contracts.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.41pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">We are required to pay our Manager a base management fee, an incentive fee, and reimbursements for certain expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">pursuant to our Management Agreement. The table above does not include the amounts payable to our Manager under our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 299.11pt">Management Agreement as they are not fixed and determinable. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.38pt">Note 16<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.99pt; position: var(--position); white-space: pre; width: 163.47pt"> to our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 347.07pt">for additional terms and details of the fees payable under our Management Agreement.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.57pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.82pt">As a REIT, we generally must distribute substantially all of our net taxable income to stockholders in the form of dividends<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">to comply with the REIT provisions of the Internal Revenue Code. Our taxable income does not necessarily equal our net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 393.13pt">income as calculated in accordance with GAAP, or our Distributable Earnings as described above.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.63pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">80<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Cash Flows <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 441.77pt">The following table provides a breakdown of the net change in our cash and cash equivalents ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 96.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 335.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 78pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 0pt; width: 159.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 159.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.26pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 335.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 12.75pt; width: 78pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 335.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows provided by operating activities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 25.5pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 37.88pt"></span></span><span style="left: 45.010000000000005pt; position: var(--position)">139,565<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 25.5pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 37.88pt"></span></span><span style="left: 45.010000000000005pt; position: var(--position)">281,908<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 335.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows provided by investing activities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 39.75pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 42.38pt"></span></span><span style="left: 45.010000000000005pt; position: var(--position)">601,564<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 39.75pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 38.260000000000005pt; position: var(--position)">2,150,500<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 335.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash flows used in financing activities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 54pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.39pt"></span></span><span style="left: 42.02pt; position: var(--position)">(694,160)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 54pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 32.64pt"></span></span><span style="left: 35.27pt; position: var(--position)">(2,458,947)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 335.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 335.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net increase (decrease) in cash and cash equivalents<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 335.25pt; position: var(--position); top: 68.25pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 42.38pt"></span></span><span style="left: 49.510000000000005pt; position: var(--position)">46,969<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 417pt; position: var(--position); top: 68.25pt; width: 78pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 39.39pt"></span></span><span style="left: 46.52pt; position: var(--position)">(26,539)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 196.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 93.7pt">We experienced a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.91pt; position: var(--position); white-space: pre; width: 137.7pt"> in cash and cash equivalents of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.09pt">$47.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.7pt; position: var(--position); white-space: pre; width: 35.08pt"> for the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.75pt; position: var(--position); white-space: pre; width: 3.74pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.96pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 207.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); white-space: pre; width: 80.14pt">, compared to a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.01pt; position: var(--position); white-space: pre; width: 13.87pt"> of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.12pt">$26.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261pt; position: var(--position); white-space: pre; width: 32.17pt"> for the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.16999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.03pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.2pt; position: var(--position); white-space: pre; width: 2.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.76pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.73pt; position: var(--position); white-space: pre; width: 51.33pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.4pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 219.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); white-space: pre; width: 3.62pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.44pt; position: var(--position); white-space: pre; width: 71.88pt">, we (i) received <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.2pt">$4.8&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.52pt; position: var(--position); white-space: pre; width: 216.2pt"> from loan principal collections and sales proceeds, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.64pt">(ii) received<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 230.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.01pt">$831.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.50999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 379.8pt"> of net proceeds from the issuance of a securitized debt obligation, and (iii) received a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.01pt">$50.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 242.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 173.54pt">under our secured term loan borrowings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.04pt; position: var(--position); white-space: pre; width: 82.9pt">. Also, during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 314.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.85pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.79pt; position: var(--position); white-space: pre; width: 5.18pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.58pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.55pt; position: var(--position); white-space: pre; width: 66.88pt">, we (i) funded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 253.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.28pt">$3.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.78pt; position: var(--position); white-space: pre; width: 104.61pt"> of loans, (ii) repaid a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">$601.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.44pt; position: var(--position); white-space: pre; width: 184.4pt"> of asset-specific financings, (iii) repaid a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">$342.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.89pt; position: var(--position); white-space: pre; width: 41.49pt"> under our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 265.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 141.63pt">secured debt borrowings, (iv) paid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$242.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.33000000000004pt; position: var(--position); white-space: pre; width: 223.68pt"> of dividends on our class A common stock, (v) repaid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$193.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.21pt; position: var(--position); white-space: pre; width: 11.18pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 276.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 180.37pt">securitized debt obligations, (vi) invested <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.41pt">$178.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.28pt; position: var(--position); white-space: pre; width: 183.84pt"> in unconsolidated entities, and (vii) paid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 484.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.41pt">$47.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.53pt; position: var(--position); white-space: pre; width: 12.83pt"> to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 288.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 192.59pt">repurchase shares of our class A common stock.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 311.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 35.41pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.15pt">Note 3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.06pt; position: var(--position); white-space: pre; width: 397.4pt"> to our consolidated financial statements for further discussion of our loan activity. Refer to Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">7<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.46pt; position: var(--position); white-space: pre; width: 5.23pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">8<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.69pt; position: var(--position); white-space: pre; width: 19.66pt">, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 323.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.5pt; position: var(--position); white-space: pre; width: 484.89pt"> to our consolidated financial statements for further discussion of our secured debt, securitized debt obligations, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 334.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 80.72pt">equity, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 364.3pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_154"></div><div style="line-height: 10pt; position: var(--position); top: 364.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: underline; white-space: pre">V. Other Items <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 381.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Income Taxes <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 399.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">We have elected to be taxed as a REIT under the Internal Revenue Code for U.S. federal income tax purposes. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">generally must distribute annually at least 90% of our net taxable income, subject to certain adjustments and excluding any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 422.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">net capital gain, in order for U.S. federal income tax not to apply to our earnings. To the extent that we satisfy this<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">distribution requirement, but distribute less than 100% of our net taxable income, we will be subject to U.S. federal income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">tax on our undistributed taxable income. In addition, we will be subject to a 4% nondeductible excise tax if the actual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">amount that we pay out to our stockholders in a calendar year is less than a minimum amount specified under U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.51pt">tax laws.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">Our qualification as a REIT also depends on our ability to meet various other requirements imposed by the Internal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 503.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Revenue Code, which relate to organizational structure, diversity of stock ownership, and certain restrictions with regard to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.78pt">the nature of our assets and the sources of our income. Even if we qualify as a REIT, we may be subject to certain U.S.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">federal income and excise taxes and state and local taxes on our income and assets. If we fail to maintain our qualification<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 537.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">as a REIT for any taxable year, we may be subject to material penalties as well as federal, state, and local income tax on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">our taxable income at regular corporate rates and we would not be able to qualify as a REIT for the subsequent four full<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.91pt">taxable years.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.41pt; position: var(--position); white-space: pre; width: 26.94pt"> As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.57pt; position: var(--position); white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.54pt; position: var(--position); white-space: pre; width: 211.93pt">, we were in compliance with all REIT requirements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Furthermore, our taxable REIT subsidiaries are subject to federal, state, and local income tax on their net taxable income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 34.95pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 17<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.37pt; position: var(--position); white-space: pre; width: 333.24pt"> to our consolidated financial statements for further discussion of our income taxes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 118.74pt">Critical Accounting Policies<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 177.24pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">Our discussion and analysis of our financial condition and results of operations is based upon our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 654.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">statements, which have been prepared in accordance with GAAP. The preparation of these financial statements requires us<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and related<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 677.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">disclosure of contingent assets and liabilities. Actual results could differ from these estimates. We evaluated our critical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">accounting policies and believe them to be appropriate. The following is a summary of our significant accounting policies<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 700.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 282.96pt">that we believe are the most affected by our judgments, estimates, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.41pt">assumptions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.87pt; position: var(--position); white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 127.91pt">Current Expected Credit Losses<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 186.41pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">The current expected credit loss, or CECL, reserve required under the FASB Accounting Standards Codification, or ASC,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">Topic 326 &#8220;Financial Instruments &#8211; Credit Losses,&#8221; or ASC 326, reflects our current estimate of potential credit losses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">related to our portfolio. We estimate our CECL reserves primarily using the Weighted-Average Remaining Maturity, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">WARM method, which has been identified as an acceptable loss-rate method for estimating CECL reserves in the Financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Accounting Standards Board Staff Q&amp;A Topic 326, No. 1. Estimating the CECL reserve requires judgment, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 93.54pt">following assumptions:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: underline; white-space: pre; width: 146.26pt">Historical loan loss reference data<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.76pt; position: var(--position); white-space: pre; width: 312.68pt">: To estimate the historic loan losses relevant to our portfolio, we have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.88pt">augmented our historical loan performance with market loan loss data licensed from Trepp LLC. This database<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 413.44pt">includes commercial mortgage-backed securities, or CMBS, issued since January 1, 1999 through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.52pt">August&#160;31,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.5pt; position: var(--position); white-space: pre; width: 438.89pt">. Within this database, we focused our historical loss reference calculations on the most relevant subset of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.85pt">available CMBS data, which we determined based on loan metrics that are most comparable to our loan portfolio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.94pt">including asset type, geography, and origination loan-to-value, or LTV. We believe this CMBS data, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.92pt">includes month-over-month loan and property performance, is the most relevant, available, and comparable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 93.79pt">dataset to our portfolio.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 244.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: underline; white-space: pre; width: 283.55pt">Expected timing and amount of future loan fundings and repayments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.05pt; position: var(--position); white-space: pre; width: 175.44pt">: Expected credit losses are estimated over<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.89pt">the contractual term of each loan, adjusted for expected repayments. As part of our quarterly review of our loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 267.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.92pt">portfolio, we assess the expected repayment date of each loan, which is used to determine the contractual term for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.91pt">purposes of computing our CECL reserves. Additionally, the expected credit losses over the contractual period of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 290.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.94pt">our loans are subject to the obligation to extend credit through our unfunded loan commitments. The CECL<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 302pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.92pt">reserve for unfunded loan commitments is adjusted quarterly, as we consider the expected timing of future<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 313.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.89pt">funding obligations over the estimated life of the loan. The considerations in estimating our CECL reserve for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 325pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 391.19pt">unfunded loan commitments are similar to those used for the related outstanding loans receivable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: underline; white-space: pre; width: 157.87pt">Current credit quality of our portfolio<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 252.37pt; position: var(--position); white-space: pre; width: 301.09pt">: Our risk rating is our primary credit quality indicator in assessing our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.87pt">CECL reserves. We perform a quarterly risk review of our portfolio of loans and assign each loan a risk rating<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.89pt">based on a variety of factors, including, without limitation, origination LTV, debt yield, property type, geographic<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.93pt">and local market dynamics, physical condition, cash flow volatility, leasing and tenant profile, loan structure and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 388.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 137.1pt">exit plan, and project sponsorship.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 406pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: underline; white-space: pre; width: 209.59pt">Expectations of performance and market conditions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.09000000000003pt; position: var(--position); white-space: pre; width: 249.37pt">: Our CECL reserves are adjusted to reflect our estimation of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 459pt">the current and future economic conditions that impact the performance of the commercial real estate assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.94pt">securing our loans. These estimations include unemployment rates, interest rates, expectations of inflation and/or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.94pt">recession, and other macroeconomic factors impacting the likelihood and magnitude of potential credit losses for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 452pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.93pt">our loans during their anticipated term. In addition to the CMBS data we have licensed from Trepp LLC, we have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.93pt">also licensed certain macroeconomic financial forecasts to inform our view of the potential future impact that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.91pt">broader economic conditions may have on our loan portfolio&#8217;s performance. We generally also incorporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.97pt">information from other sources, including information and opinions available to our Manager, to further inform<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.96pt">these estimations. This process requires significant judgments about future events that, while based on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 458.91pt">information available to us as of the balance sheet date, are ultimately indeterminate and the actual economic<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 369.58pt">condition impacting our portfolio could vary significantly from the estimates we made as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 544.3pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: underline; white-space: pre; width: 46.6pt">Impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.1pt; position: var(--position); white-space: pre; width: 6.17pt">: <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.15pt">impairment is indicated when it is deemed probable that we will not be able to collect all amounts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.85pt">due to us pursuant to the contractual terms of the loan. Determining that a loan is impaired requires significant<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">judgment from management and is based on several factors including (i) the underlying collateral performance,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">(ii) discussions with the borrower, (iii) borrower events of default, and (iv) other facts that impact the borrower&#8217;s<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">ability to pay the contractual amounts due under the terms of the loan. If a loan is determined to be impaired, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.85pt">record the impairment as a component of our CECL reserves by applying the practical expedient for collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">dependent loans. The CECL reserves are assessed on an individual basis for these loans by comparing the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 619pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.89pt">estimated fair value of the underlying collateral, less costs to sell, to the book value of the respective loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 630.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.95pt">valuations require significant judgments, which include assumptions regarding capitalization rates, discount rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.95pt">leasing, creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">sponsorship, actions of other lenders, and other factors deemed relevant by us. Actual losses, if any, could<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">ultimately differ materially from these estimates. We only expect to charge off the impairment losses in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.87pt">consolidated financial statements prepared in accordance with GAAP if and when such amounts are deemed non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">recoverable. This is generally at the time a loan is repaid or foreclosed, or the underlying collateral assets are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">otherwise consolidated. However, non-recoverability may also be concluded if, in our determination, it is nearly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 711pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.65pt">certain that all amounts due will not be collected.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">82<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">These assumptions vary from quarter-to-quarter as our loan portfolio changes and market and economic conditions evolve.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">The sensitivity of each assumption and its impact on the CECL reserves may change over time and from period to period.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 48.34pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.31pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.15pt; position: var(--position); white-space: pre; width: 3.91pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.04pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.1pt; position: var(--position); white-space: pre; width: 89.72pt">, our CECL reserves <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.19pt; position: var(--position); white-space: pre; width: 22.82pt">d by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.26pt">$34.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.27pt; position: var(--position); white-space: pre; width: 79.17pt">, bringing our total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 45.9pt">reserves to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">$711.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.45pt; position: var(--position); white-space: pre; width: 24.75pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.82pt; position: var(--position); white-space: pre; width: 48.33pt">. See Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.15pt; position: var(--position); white-space: pre; width: 19.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.98pt; position: var(--position); white-space: pre; width: 206.42pt"> to our consolidated financial statements for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 134.05pt">discussion of our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 84.59pt">Revenue Recognition<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 143.09pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Interest income from our loans receivable portfolio is recognized over the life of each loan using the effective interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">method and is recorded on the accrual basis. Recognition of fees, premiums, and discounts associated with these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">investments is deferred and recorded over the term of the loan as an adjustment to yield. Income accrual is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">suspended for loans at the earlier of the date at which payments become 90 days past due or when, in our opinion, recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">of income and principal becomes doubtful. Interest received is then recorded as income or as a reduction in the amortized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">cost basis, based on the specific facts and circumstances, until accrual is resumed when the loan becomes contractually<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">current and performance is demonstrated to be resumed. In addition, for loans we originate, the related origination expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">are deferred and recognized as a reduction to interest income, however expenses related to loans we acquire are included in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.63pt">general and administrative expenses as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">The sources of revenue from our REO assets, which is included in revenue from real estate owned on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 337.33pt">statements of operations, and the related revenue recognition policies are as follows:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Rental income primarily consists of base rent income arising from tenant leases at our office and multifamily properties.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">We begin to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.68pt">space.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Other operating income primarily consists of income from our hospitality properties and tenant reimbursement income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Revenue from our hospitality properties consists primarily of room revenue and food and beverage revenue. Room revenue<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.78pt">maintenance, real estate taxes, and other recoverable costs included in lease agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">We evaluate the collectibility of receivables related to rental revenue on an individual lease basis and exercise judgment in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">assessing collectability considering the length of time a receivable has been outstanding, tenant credit-worthiness, payment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">history, available information about the financial condition of the tenant, and current economic trends, among other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.04pt">Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 483pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Real Estate Owned<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">We may assume legal title, physical possession, or control of the collateral underlying a loan through a foreclosure, a deed-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">in-lieu of foreclosure transaction, or a loan modification in which we receive an equity interest in and/or control over<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">decision-making at the property, resulting in us consolidating the real estate assets as VIEs. These real estate acquisitions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">are classified as real estate owned, or REO, on our consolidated balance sheet and are initially recognized at fair value on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 398.76pt">the acquisition date in accordance with the ASC Topic 805, &#8220;Business Combinations,&#8221; or ASC 805.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Upon acquisition of REO assets, we assess the fair value of acquired tangible and intangible assets, which may include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">land, buildings, tenant improvements, &#8220;above-market&#8221; and &#8220;below-market&#8221; leases, acquired in-place leases, other identified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">intangible assets and assumed liabilities, as applicable, and allocate the fair value to the acquired assets and assumed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 604.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.79pt">liabilities. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.07pt"><span style="background-color: inherit">We assess and consider fair value based on estimated cash flow projections that utilize discount and/or</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt"><span style="background-color: inherit">capitalization rates that we deem appropriate, as well as other available market information. Estimates of future cash flows</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt"><span style="background-color: inherit">are based on a number of factors including the historical operating results, known and anticipated trends, and market and</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.96pt"><span style="background-color: inherit">economic conditions. </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.32pt">We capitalize acquisition-related costs associated with asset acquisitions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">Real estate assets held for investment, except for land, are depreciated using the straight-line method over the assets&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 139.62pt">estimated useful lives of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">40<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.12pt; position: var(--position); white-space: pre; width: 111.02pt"> years for buildings and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); white-space: pre; width: 224.26pt"> years for tenant improvements. Renovations and/or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">replacements that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">Lease intangibles are amortized over the remaining term of applicable leases on a straight-line basis. The cost of ordinary<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 200.55pt">repairs and maintenance are expensed as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">83<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 495pt"></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">Real estate assets held for investment are assessed for impairment on a quarterly basis. If the depreciated cost basis of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">asset exceeds the undiscounted cash flows over the remaining holding period, the asset is considered for impairment. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 422.8pt">impairment loss is recognized when the carrying value of the real estate assets exceed their fair value. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.1pt"><span style="background-color: inherit">The evaluation of</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 422.46pt"><span style="background-color: inherit">rates, capital requirements and anticipated holding periods that could differ materially from actual results.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Real estate assets are classified as held for sale in the period when they meet the criteria under ASC Topic 360 &#8220;Property,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Plant, and Equipment.&#8221; Once a real estate asset is classified as held for sale, depreciation is suspended and the asset is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">reported at the lower of its carrying value or fair value less cost to sell. If circumstances arise and we decide not to sell a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">real estate asset previously classified as held for sale, the real estate asset is reclassified as held for investment. Upon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">reclassification, the real estate asset is measured at the lower of (i) its carrying amount prior to classification as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">sale, adjusted for depreciation expense that would have been recognized had the real estate been classified as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.05pt">investment, and (ii) its estimated fair value at the time of reclassification.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 24.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.16pt; position: var(--position); white-space: pre; width: 36.08pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.24pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.85pt">REO assets that were all classified as held for investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 576pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">84<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: absolute; top: 36pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_549755815912"></div><div style="line-height: 10pt; position: var(--position); top: 36pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40.5pt; position: var(--position); text-decoration: underline; white-space: pre">VI. Loan Portfolio Details<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 53.5pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre">The following table provides details of our loan portfolio, on a loan-by-loan basis, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.22pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.44pt; position: var(--position); white-space: pre"> ($ in millions):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 65pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 710.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 0.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 8.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 4.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/></tr><tr style="height: 15.75pt"><td colspan="27" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 710.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 7.12pt; width: 710.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Senior Loan Portfolio<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 76.78999999999999pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.52pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 15.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.4pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.14pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Date<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.39pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.83pt; position: var(--position); white-space: pre">Commitment<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.74pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.95pt; position: var(--position); text-decoration: none; white-space: pre">Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.62pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.48pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.84pt; position: var(--position); white-space: pre">Cash<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.92pt; position: var(--position); white-space: pre">Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.009999999999998pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.73pt; position: var(--position); white-space: pre">All-in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.37pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 25.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.36pt; position: var(--position); white-space: pre">Maximum<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 15.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.75pt; position: var(--position); text-decoration: none; white-space: pre">Loan Per<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Unit / <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Key<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 15.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.89pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.63pt; position: var(--position); white-space: pre">LTV<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.060000000000002pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 15.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.85pt; position: var(--position); text-decoration: none; white-space: pre">Risk<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 45pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.75pt">Dublin, IE<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/14/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 28.96pt"></span></span><span style="left: 35.59pt; position: var(--position)">1,018<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">970<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">969<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.20<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/29/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 45pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$280 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 45pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 45pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 57.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, AU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/24/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">875<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">875<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">869<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.93<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/21/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$398 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 57.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 57.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 70.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.17pt">Diversified, Spain<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/22/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">548<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">548<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">548<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.31<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/15/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 70.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 48.85pt; position: var(--position); text-decoration: none; white-space: pre">n / a<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 70.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 70.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 83.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.28pt">Diversified, SE<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">506<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">506<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">505<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.20<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.41<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/15/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 83.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$92 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 83.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 83.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 96pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Austin<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/28/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">675<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">488<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">483<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.08<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">7/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$405 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 96pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">53<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 96pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-Storage<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 108.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.83pt">Diversified, CAN<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/20/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">449<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">449<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">449<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 108.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$157 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 108.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 108.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 121.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">385<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">382<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">382<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 121.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$131 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 121.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 121.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 134.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/7/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">350<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">350<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">348<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.55<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.88<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/7/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$347 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 134.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">67<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 134.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">9<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 147pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/23/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">347<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">347<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">343<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/24/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$383,322 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 147pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 147pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 159.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.65pt">Chicago<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/11/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">356<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">337<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">339<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$282 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 159.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">78<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 159.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 172.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/15/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">304<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">304<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">303<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.89<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/15/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$144 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 172.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 172.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 185.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/6/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">301<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">301<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">301<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/6/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$95 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 185.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">53<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 185.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 198pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/11/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">291<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">291<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">291<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.17<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.06<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/14/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 198pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$231 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 198pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 198pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 210.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.75pt">Washington, DC<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/29/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">293<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">288<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">287<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.81<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.07<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 210.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$375 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 210.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">15<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 223.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.75pt">Seattle<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/26/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">338<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">286<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">285<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.10<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.77<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$598 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 223.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">56<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 223.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 236.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 236.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/27/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">273<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">273<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">273<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.83<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 236.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$600,280 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 236.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 236.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 249pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.94pt">Diversified, EUR<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/5/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">249<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">249<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">246<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.97<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/19/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 249pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$67 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 249pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 261.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/11/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">243<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">243<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">242<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/7/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 261.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$307 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 261.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">52<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 261.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 274.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">19<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 274.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.42pt">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/16/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">246<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">237<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">237<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.51<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/15/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 274.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$243,585 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 274.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 274.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 287.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.88pt">Reno<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/23/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">240<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">230<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">230<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.07<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$213,925 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 287.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 287.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 300pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 300pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.4pt">Berlin, DEU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/27/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">260<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">227<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">227<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.13<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/6/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 300pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$475 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 300pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 300pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 312.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 312.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/22/2016<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">252<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">222<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">216<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 10.45pt"></span></span><span style="left: 13.079999999999998pt; position: var(--position)">+10.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 10.45pt"></span></span><span style="left: 13.079999999999998pt; position: var(--position)">+10.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 312.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$313 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 312.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 312.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 325.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/13/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">227<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">210<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">208<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.10<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.49<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 325.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.09pt; position: var(--position); text-decoration: none; white-space: pre">$716,919 / acre<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 325.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 325.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 338.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 338.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/28/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">206<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">206<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">204<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.45<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/28/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 338.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$129 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 338.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 338.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">25<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 351pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/11/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">202<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">202<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">200<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.40<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.77<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/11/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 351pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$115 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 351pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 351pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 363.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">26<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 363.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Denver<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/15/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">191<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">185<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">169<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.90<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.90<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 363.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$367 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 363.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 363.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 376.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">27<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 376.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/23/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">244<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">184<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">184<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 16.3pt"></span></span><span style="left: 18.93pt; position: var(--position)">-1.30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(7)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 16.3pt"></span></span><span style="left: 18.93pt; position: var(--position)">-1.03<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 376.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$596 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 376.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">53<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 376.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 389.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">28<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 389.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">182<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">182<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">181<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.88<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/15/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 389.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$154 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 389.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">55<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 389.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 402pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 402pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.66pt">Boston<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/13/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">199<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">179<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">179<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 402pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$897 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 402pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 414.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">30<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 414.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.42pt">Dallas<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/27/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">178<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">178<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">179<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.10<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.24<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 414.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$116,020 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 414.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 414.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 576pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">85<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: var(--position); top: 36pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 710.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 0.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 8.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 4.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/></tr><tr style="height: 15.75pt"><td colspan="27" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 710.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 7.12pt; width: 710.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Senior Loan Portfolio<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 76.78999999999999pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.52pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 15.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.4pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.14pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Date<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.39pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.83pt; position: var(--position); white-space: pre">Commitment<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.74pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.95pt; position: var(--position); text-decoration: none; white-space: pre">Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.62pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.48pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.84pt; position: var(--position); white-space: pre">Cash<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.92pt; position: var(--position); white-space: pre">Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.009999999999998pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.73pt; position: var(--position); white-space: pre">All-in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.37pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 25.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.36pt; position: var(--position); white-space: pre">Maximum<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 15.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.75pt; position: var(--position); text-decoration: none; white-space: pre">Loan Per<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Unit / <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Key<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 15.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.89pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.63pt; position: var(--position); white-space: pre">LTV<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.060000000000002pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 15.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.85pt; position: var(--position); text-decoration: none; white-space: pre">Risk<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">31<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 45pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/7/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 34.96pt"></span></span><span style="left: 41.59pt; position: var(--position)">156<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">156<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">156<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.45<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 45pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$624,000 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 45pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 45pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">32<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 57.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/4/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">153<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">153<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">153<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.40<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$251,647 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 57.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">52<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 57.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">33<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-Storage<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 70.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.42pt">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/18/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">152<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">152<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">152<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.51<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/18/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 70.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$194 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 70.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 70.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">34<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 83.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.28pt">Fort Lauderdale<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/7/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">155<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">152<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">152<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.94<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 83.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$392 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 83.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">55<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 83.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 96pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.75pt">Dublin, IE<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/15/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">147<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">145<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">145<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$363,877 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 96pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">79<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 96pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 108.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.76pt">San Jose<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/2/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">182<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">145<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">143<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.35<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 108.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$308,851 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 108.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">67<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 108.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">37<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 121.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Diversified, AU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/10/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">142<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">142<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">141<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.52<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/10/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 121.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$428,252 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 121.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 121.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">38<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 134.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.84pt">Manchester, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/30/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">140<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">140<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">139<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/30/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$300,082 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 134.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">63<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 134.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">39<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 147pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/17/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">183<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">139<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">138<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.12<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.44<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$109 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 147pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">43<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 147pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">40<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 159.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.42pt">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/20/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">4.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">4.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/31/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$696 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 159.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 159.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">41<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 172.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/10/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">135<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">135<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">135<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.36<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$452 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 172.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">49<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 172.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">42<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 185.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/23/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">134<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">134<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">133<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/15/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$969 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 185.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 185.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">43<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 198pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/28/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">128<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">128<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.55<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.79<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 198pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$338 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 198pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 198pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">44<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 210.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.96pt">San Bernardino<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/14/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">128<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">127<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">127<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.81<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.05<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 210.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$255,906 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 210.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">45<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 223.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.76pt">San Jose<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/24/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">156<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">126<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">124<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">9/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$297 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 223.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 223.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 236.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 236.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/27/2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">125<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">125<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">124<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.17<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 236.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$260,417 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 236.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 236.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">47<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 249pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.53pt">San Diego<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/27/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">122<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">122<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">122<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.36<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">9/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 249pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$464 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 249pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">48<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 261.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/1/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">120<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">120<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">120<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.32<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 261.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$298,507 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 261.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">61<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 261.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 274.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">49<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 274.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.1pt">Houston<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/15/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">136<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">117<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">117<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.01<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.22<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 274.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$212 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 274.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 274.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 287.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/29/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">116<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">116<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">116<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.02<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.28<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/29/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 17.96pt; position: var(--position); text-decoration: none; white-space: pre">$50,955 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 287.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">61<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 287.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 300pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">51<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 300pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.21pt">Phoenix<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/29/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.02<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 300pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$189,003 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 300pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 300pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 312.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">52<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 312.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/10/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/11/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 312.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$668 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 312.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">48<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 312.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 325.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.18pt">Napa Valley<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/29/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/18/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 325.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 8.85pt; position: var(--position); text-decoration: none; white-space: pre">$1,116,719 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 325.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 325.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 338.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Studio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 338.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/28/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.03<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/1/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 338.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$531 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 338.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">48<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 338.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">55<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 351pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.2pt">Tampa<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/15/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 351pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$241,972 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 351pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">73<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 351pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 363.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">56<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 363.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.08pt">Orange County<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/31/2017<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">9/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 363.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$162 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 363.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 363.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 376.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">57<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 376.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.65pt">Chicago<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">5.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">5.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 376.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$113 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 376.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">43<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 376.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 389.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 389.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.98pt">Minneapolis<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/27/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">104<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">94<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+7.86<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+7.86<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">10/31/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 389.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$93 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 389.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 389.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 402pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 402pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.61pt">Diversified, NL<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/27/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.97<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/31/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 402pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$121,020 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 402pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 414.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 414.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.21pt">Honolulu<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">1/30/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">99<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">99<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">99<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 414.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$270,109 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 414.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">63<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 414.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 576pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">86<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: var(--position); top: 36pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 710.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 0.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 8.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 4.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/></tr><tr style="height: 15.75pt"><td colspan="27" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 710.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 7.12pt; width: 710.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Senior Loan Portfolio<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 76.78999999999999pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.52pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 15.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.4pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.14pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Date<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.39pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.83pt; position: var(--position); white-space: pre">Commitment<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.74pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.95pt; position: var(--position); text-decoration: none; white-space: pre">Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.62pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.48pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.84pt; position: var(--position); white-space: pre">Cash<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.92pt; position: var(--position); white-space: pre">Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.009999999999998pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.73pt; position: var(--position); white-space: pre">All-in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.37pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 25.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.36pt; position: var(--position); white-space: pre">Maximum<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 15.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.75pt; position: var(--position); text-decoration: none; white-space: pre">Loan Per<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Unit / <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Key<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 15.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.89pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.63pt; position: var(--position); white-space: pre">LTV<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.060000000000002pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 15.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.85pt; position: var(--position); text-decoration: none; white-space: pre">Risk<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 45pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/18/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 38.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">99<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 26.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">99<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 26.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">98<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">7/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 45pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$51 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 45pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">55<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 45pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 57.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.21pt">Honolulu<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/13/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.36<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$152,536 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 57.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 57.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">63<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 70.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/22/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.41<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 70.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.09pt; position: var(--position); text-decoration: none; white-space: pre">$830,987 / acre<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 70.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">56<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 70.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">64<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 83.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, BE<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/7/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">111<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.32<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/7/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 83.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$41 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 83.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">57<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 83.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">65<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 96pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/29/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.21<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$271,118 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 96pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 96pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">66<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 108.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.2pt">San Antonio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/20/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.16<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 108.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$449,074 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 108.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 108.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">67<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 121.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.21pt">Phoenix<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/1/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.87<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.79<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/1/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 121.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$224,302 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 121.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">77<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 121.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 134.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/24/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">121<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">95<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.35<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$139 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 134.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">56<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 134.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">69<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 147pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.97pt">Philadelphia<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">10/28/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.24<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$352,399 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 147pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">79<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 147pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">70<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 159.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.17pt">Diversified, Spain<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">101<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">95<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">95<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.31<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/30/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$148,637 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 159.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 159.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">71<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 172.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.75pt">Washington, DC<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/21/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">103<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">94<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">94<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.94<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$324 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 172.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 172.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">72<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 185.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.2pt">Orlando<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">10/27/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.61<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.81<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$155,612 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 185.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 185.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">73<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 198pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.75pt">Seattle<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/13/2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">94<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 198pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$500,796 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 198pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 198pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">74<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 210.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.66pt">Boston<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/3/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">92<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">92<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">92<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.99<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 210.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$418,182 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 210.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">75<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 223.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.07pt">San Francisco<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/14/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">90<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">90<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.20<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">7/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$187 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 223.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 223.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 236.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">76<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 236.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.07pt">San Francisco<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">10/16/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">88<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">88<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">88<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+7.36<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+7.36<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 236.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$191,807 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 236.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 236.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">77<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 249pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.75pt">Dublin, IE<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/17/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">83<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">83<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">83<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.35<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/17/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 249pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$133 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 249pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">78<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 261.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.75pt">Charlotte<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/29/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">82<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">82<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">82<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 261.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$223,735 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 261.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">78<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 261.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 274.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">79<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 274.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/27/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">79<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">79<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">78<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.84<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">9/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 274.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$116,598 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 274.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">67<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 274.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">80<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 287.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.2pt">Tampa<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/21/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">74<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">74<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">74<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.94<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$217,353 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 287.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">77<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 287.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 300pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 300pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.62pt">Utrecht, NL<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/30/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">73<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">73<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">73<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.16<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/30/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 300pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$173 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 300pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 300pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 312.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">82<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 312.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">Las Vegas<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/31/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.04<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 312.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$149,295 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 312.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 312.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">83<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 325.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/31/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">67<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 325.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$229,730 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 325.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 325.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 338.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">84<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 338.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/6/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">6.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.59pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 21.59pt; position: var(--position)">6.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 338.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$254 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 338.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 338.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">85<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 351pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.64pt">Nashville<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">65<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.20<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">7/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 351pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$252 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 351pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 351pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 363.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">86<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 363.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.31pt">Bermuda<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/26/2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">69<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.62<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 363.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$693,780 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 363.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">39<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 363.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 376.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">87<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 376.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.28pt">Fort Lauderdale<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/10/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.54<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 376.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$209 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 376.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 376.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 389.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">88<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 389.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.75pt">Tacoma<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">10/28/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 389.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 389.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 389.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.18<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 389.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 389.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 389.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$182,591 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 389.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 389.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 402pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">89<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 402pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.18pt">Salt Lake City<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 402pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 402pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.95<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 402pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.22<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 402pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 402pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 402pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$212,618 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 402pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">73<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 402pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 414.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">90<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 414.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.21pt">Phoenix<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/17/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 414.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 414.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 414.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 414.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 414.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 414.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$209,601 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 414.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 414.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 576pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">87<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: var(--position); top: 36pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 710.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 0.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 8.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 4.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/></tr><tr style="height: 15.75pt"><td colspan="27" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 710.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 7.12pt; width: 710.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Senior Loan Portfolio<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 76.78999999999999pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.52pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 15.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.4pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.14pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Date<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 15.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.39pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.83pt; position: var(--position); white-space: pre">Commitment<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.74pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.95pt; position: var(--position); text-decoration: none; white-space: pre">Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 15.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.62pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.48pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.84pt; position: var(--position); white-space: pre">Cash<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.92pt; position: var(--position); white-space: pre">Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.009999999999998pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 15.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.73pt; position: var(--position); white-space: pre">All-in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.37pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 25.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 15.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 15.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.36pt; position: var(--position); white-space: pre">Maximum<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 15.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.75pt; position: var(--position); text-decoration: none; white-space: pre">Loan Per<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Unit / <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Key<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 15.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.89pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.63pt; position: var(--position); white-space: pre">LTV<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.060000000000002pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 15.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.85pt; position: var(--position); text-decoration: none; white-space: pre">Risk<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">91<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 45pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/14/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 38.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 26.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 26.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">58<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 45pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$122 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 45pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 45pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">92<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 57.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.98pt">Minneapolis<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/12/2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">61<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">57<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">56<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.23<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$80 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 57.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 57.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">93<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 70.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/28/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">68<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">56<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">56<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 70.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$367 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 70.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 70.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">94<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 83.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Atlanta<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/6/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">55<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">55<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">55<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 83.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$187,075 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 83.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 83.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">95<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 96pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Denver<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/5/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">56<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.21<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$205 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 96pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 96pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">96<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 108.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Denver<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/7/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">57<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 108.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$159 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 108.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 108.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">97<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 121.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/14/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.01<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.41<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 121.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$40 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 121.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">57<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 121.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">98<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 134.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/28/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.12<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$299,448 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 134.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 134.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">99<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-Storage<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 147pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.17pt">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/18/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">53<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">52<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.10<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.47<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); text-decoration: none; white-space: pre">$90 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 147pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">67<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 147pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 159.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/22/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">52<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">52<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">52<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.91<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$303 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 159.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">63<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 159.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">101<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 172.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Denver<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/19/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">51<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">51<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">51<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.92<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$221,739 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 172.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 172.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 185.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.64pt">Waimea<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/27/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.92<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$823,353 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 185.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">52<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 185.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">103<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 198pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/20/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">48<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">48<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">48<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.86<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 198pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$366,412 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 198pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">60<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 198pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">104<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 210.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.65pt">Chicago<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/30/2016<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">55<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.33<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.82<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 210.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$764 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">54<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 210.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">105<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 223.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.88pt">Columbus<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/8/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">48<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">44<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">44<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 223.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 223.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$143,150 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 223.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 223.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 236.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">106<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 236.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.42pt">Dallas<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/29/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 236.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">43<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">43<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 236.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">43<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.05<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 236.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.24<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 236.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 236.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/1/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 236.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$144,167 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 236.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">73<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 236.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">107<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 249pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/25/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">221<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">42<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">40<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 249pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.38<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 249pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 249pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/25/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 249pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 17.96pt; position: var(--position); text-decoration: none; white-space: pre">$74,138 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 249pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">44<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 249pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">108<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 261.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">Las Vegas<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/31/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 261.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">39<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">39<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">39<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 261.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.04<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 261.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 261.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 261.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$155,163 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 261.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 261.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 274.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 274.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.63pt">Melbourne, AU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/13/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">241<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">34<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+7.19<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/8/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 274.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 17.96pt; position: var(--position); text-decoration: none; white-space: pre">$76,522 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 274.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">76<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 274.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 287.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 287.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.32pt">Austin<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/26/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 287.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 287.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 287.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 287.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 287.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 287.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$196,228 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 287.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 287.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 300pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">111<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 300pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.19pt">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/1/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 300pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 300pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 300pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.24<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 300pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 300pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 300pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$376,344 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 300pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 300pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 312.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 312.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, AU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/8/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 312.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 312.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 312.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.98<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 312.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 312.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/8/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 312.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$398 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 312.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">75<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 312.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">113<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 325.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/23/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 325.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 325.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+1.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 325.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.61<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 325.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 325.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/15/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 325.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$170,355 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 325.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 325.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 338.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">114<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 338.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/23/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 338.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 338.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 338.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.33<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 338.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 338.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">2/1/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 338.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$247 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 338.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">30<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 338.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 351pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Atlanta<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/27/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 351pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">41<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">34<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 351pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">33<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 351pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 351pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 351pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">6/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 351pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$115 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 351pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">39<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 351pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 363.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">116<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 363.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Atlanta<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/3/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 363.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">32<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">32<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 363.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">32<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 363.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.96<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 363.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 363.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">11/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 363.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$182,093 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 363.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">53<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 363.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 376.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">117<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 376.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.63pt">Melbourne, AU<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/26/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 376.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">28<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">28<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 376.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">28<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 376.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.94<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 376.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 376.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">6/23/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 376.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$295,474 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 376.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 376.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 388.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">118<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 388.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 388.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 388.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">2/21/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 388.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 388.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 388.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 388.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.25<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 388.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 388.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.52<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 388.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 388.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 388.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$775 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 388.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 388.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 401.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">119<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 401.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 401.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Atlanta<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 401.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/1/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 401.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 401.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 401.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 401.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 401.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 401.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+4.03<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 401.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 401.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 401.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$129,442 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 401.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">74<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 401.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 414pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">120<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 414pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 414pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.52pt">Las Vegas<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 414pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/4/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 414pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 414pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 414pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 414pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.86<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 414pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 414pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.11<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 414pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 414pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">8/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 414pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$180,000 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 414pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">73<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 414pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 426.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">121<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 426.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 426.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.53pt">Atlanta<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 426.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 426.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 426.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 426.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 426.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.85<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 426.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 426.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.94<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 426.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 426.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 426.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$205,882 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 426.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 426.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 439.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">122<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 439.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 439.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Austin<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 439.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/15/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 439.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 439.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 439.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 439.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.06<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 439.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 439.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.14<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 439.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 439.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 439.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$139 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 439.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">40<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 439.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 452.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">123<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 452.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 452.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.5pt">Diversified, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 452.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/15/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 452.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">265<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 452.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre">0<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 452.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 38.37pt; position: var(--position); text-decoration: none; white-space: pre">0<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 452.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.65<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 452.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 452.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.17<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 452.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 452.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/15/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 452.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 36.41pt; position: var(--position); text-decoration: none; white-space: pre">$0 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 452.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 452.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="7" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 465pt; width: 203.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 203.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal: Senior loan portfolio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 465pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 24.96pt"></span></span><span style="left: 31.59pt; position: var(--position)">18,909<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 465pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">17,473<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 465pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">17,391<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 465pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.17<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 465pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.47<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 465pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.85pt; position: var(--position); text-decoration: none; white-space: pre">2.4 yrs<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 465pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 465pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 9.62pt; position: var(--position); text-decoration: none; white-space: pre">3.0<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 576pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 13.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">88<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 47.5pt; width: 792pt"><span style="font-family: 'Arial', sans-serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 750.75pt; position: var(--position); white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 287.25pt"></span></span><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 710.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 0.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 39pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 8.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 45.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 4.5pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"/></tr><tr style="height: 12.75pt"><td colspan="27" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 710.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 710.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Subordinate Loan Portfolio<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 96.77pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(8)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 12.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.52pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 12.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.4pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.14pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Date<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 12.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.39pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.83pt; position: var(--position); white-space: pre">Commitment<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.74pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.95pt; position: var(--position); text-decoration: none; white-space: pre">Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.62pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.48pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 29.46pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 12.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.84pt; position: var(--position); white-space: pre">Cash<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.92pt; position: var(--position); white-space: pre">Coupon<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.009999999999998pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 12.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.73pt; position: var(--position); white-space: pre">All-in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 39pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.37pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 25.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.36pt; position: var(--position); white-space: pre">Maximum<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 7.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.75pt; position: var(--position); text-decoration: none; white-space: pre">Loan Per<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Unit / <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Key<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 12.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.89pt; position: var(--position); white-space: pre">Origination<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 45.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.63pt; position: var(--position); white-space: pre">LTV<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.060000000000002pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 12.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.85pt; position: var(--position); text-decoration: none; white-space: pre">Risk<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">124<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 45pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Chicago<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">9/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 45pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">143<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 45pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">110<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 45pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 45pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 45pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 45pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$264 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 45pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 45pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">125<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 57.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/22/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 57.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">125<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 57.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">109<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 57.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+2.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 57.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 57.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$790 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 57.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 57.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">126<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 70.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/1/2018<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 70.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 42.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 30.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 70.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">86<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 70.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 70.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 70.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/7/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 70.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$464 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 70.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 70.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 83.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">127<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 83.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Diversified, US<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/10/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 83.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 83.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">60<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.00<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 83.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+5.12<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 83.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 83.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">3/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 83.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$112 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 83.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 83.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">128<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 96pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Orange County<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">8/31/2017<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 96pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">64<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">58<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 96pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">41<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 96pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 96pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 96pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">9/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 96pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$330 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 96pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 96pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">129<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences/<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 108.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">San Francisco<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">11/10/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 108.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">72<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">57<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 108.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">57<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.71<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 108.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.93<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 108.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2026<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 108.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$529 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 108.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 108.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 121.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/29/2022<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 121.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">47<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 121.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.70<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 121.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.92<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 121.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 121.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">4/9/2027<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 121.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$394,414 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 121.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">72<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 121.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 134.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">131<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 134.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Los Angeles<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/30/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 134.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">37<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 134.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">36<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.80<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 134.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+9.90<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 134.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 134.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">1/9/2028<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 134.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$523,896 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 134.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 134.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">132<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 147pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/10/2020<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 147pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 147pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">34<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 147pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 147pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 147pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/11/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 22.41pt; position: var(--position); text-decoration: none; white-space: pre">$1,057 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 147pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 147pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">133<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 159.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">7/18/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 159.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 159.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+8.98<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 159.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+9.38<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 159.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 159.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">7/5/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 159.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">$752,013 / unit<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 159.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">69<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 159.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 172.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">134<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 172.5pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Austin<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">4/15/2021<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 172.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">24<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 172.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 172.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 172.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 172.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">12/9/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 172.5pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$361 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 172.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 172.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">135<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 185.25pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Miami<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/2/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 185.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 185.25pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+9.50<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 185.25pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 10.45pt"></span></span><span style="left: 13.079999999999998pt; position: var(--position)">+10.33<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 185.25pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 185.25pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 19.18pt; position: var(--position); text-decoration: none; white-space: pre">5/9/2030<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 14.85pt; position: var(--position); text-decoration: none; white-space: pre">$776,974 / key<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 185.25pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">53<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 185.25pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 198pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">136<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mixed-Use<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 198pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">5/20/2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 198pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">28<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 198pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 18.37pt; position: var(--position); text-decoration: none; white-space: pre">10.00<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 198pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 18.37pt; position: var(--position); text-decoration: none; white-space: pre">10.06<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 198pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 198pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">10/1/2034<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 198pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 22.41pt; position: var(--position); text-decoration: none; white-space: pre">$1,038 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 198pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">59<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 198pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 210.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 3.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 81pt; position: var(--position); top: 210.75pt; width: 69pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 69pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">London, UK<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.18pt; position: var(--position); text-decoration: none; white-space: pre">12/20/2019<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 210.75pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 46.37pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 210.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 34.37pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 210.75pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(9)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 210.75pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.81pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 210.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">3/31/2029<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 562.5pt; position: var(--position); top: 210.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 28.41pt; position: var(--position); text-decoration: none; white-space: pre">$843 / sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 210.75pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 32.56pt; position: var(--position); text-decoration: none; white-space: pre">n/m<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 210.75pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="7" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 203.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 203.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal: subordinate loan portfolio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 223.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 34.96pt"></span></span><span style="left: 41.59pt; position: var(--position)">812<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">716<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 223.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 22.96pt"></span></span><span style="left: 29.59pt; position: var(--position)">676<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+6.42<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 223.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+6.68<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 223.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.85pt; position: var(--position); text-decoration: none; white-space: pre">3.0 yrs<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 223.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">66<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 223.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 9.62pt; position: var(--position); text-decoration: none; white-space: pre">4.1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 12.75pt"><td colspan="7" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 249pt; width: 203.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 203.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal: loans receivable portfolio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 249pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 24.96pt"></span></span><span style="left: 31.59pt; position: var(--position)">19,721<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">18,189<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 249pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">18,067<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 12.75pt"><td colspan="7" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 203.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 203.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total CECL reserve<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 261.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 24.3pt"></span></span><span style="left: 26.93pt; position: var(--position)">(696)<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 12.75pt"><td colspan="7" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 274.5pt; width: 203.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 203.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable portfolio<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 274.5pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 24.96pt"></span></span><span style="left: 31.59pt; position: var(--position)">19,721<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">18,189<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 330pt; position: var(--position); top: 274.5pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 12.96pt"></span></span><span style="left: 19.59pt; position: var(--position)">17,371<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 387pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.24<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 450pt; position: var(--position); top: 274.5pt; width: 39pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 39pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 14.45pt"></span></span><span style="left: 17.08pt; position: var(--position)">+3.46<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 489pt; position: var(--position); top: 274.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">%<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 509.25pt; position: var(--position); top: 274.5pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 25.85pt; position: var(--position); text-decoration: none; white-space: pre">2.4 yrs<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 630.75pt; position: var(--position); top: 274.5pt; width: 45.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 45.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.68pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt"></span></span><span style="left: 27.68pt; position: var(--position)">64<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span><span style="left: 38.34pt; position: var(--position)">%<span style="display: inline-block; height: 5.54pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 681pt; position: var(--position); top: 274.5pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 9.62pt; position: var(--position); text-decoration: none; white-space: pre">3.0<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 339.82pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 684pt">Senior loans include senior mortgages and similar credit quality loans, including related contiguous subordinate loans and pari passu participations in senior mortgage<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 23.59pt">loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91.09pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 446.43pt">Date loan was originated or acquired by us, and the LTV as of such date, excluding any loans that are impaired.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 429.41pt">Total commitment reflects outstanding principal balance as well as any related unfunded loan commitment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.91pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 266.31pt">Net book value represents outstanding principal balance, net of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 417.52pt">purchase and sale discounts or premiums, exit fees, deferred origination expenses, and cost-recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 406.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.51pt">proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.00999999999999pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 683.95pt">The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark rates, which include SOFR, SONIA, EURIBOR,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 255.42pt">CORRA, and other indices as applicable to each loan. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.91999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.54pt; position: var(--position); white-space: pre; width: 6.2pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.07pt; position: var(--position); white-space: pre; width: 321.31pt"> of our loans by principal balance earned a floating rate of interest, primarily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 136.88pt">indexed to SOFR. The remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">2%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.71pt; position: var(--position); white-space: pre; width: 533.52pt"> of our loans by principal balance earned a fixed rate of interest. In addition to cash coupon, all-in yield includes the amortization of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.23pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 452.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 500.23pt">deferred origination and extension fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 567.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.62pt">Excludes loans accounted for under the cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 464.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.59pt">recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.09pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.59pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 496.36pt">Maximum maturity assumes all extension options are exercised; however, our loans may be repaid prior to such date. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 563.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.46pt">Excludes loans accounted for under the cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.59pt">recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.09pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.59pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(7)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 406.88pt">This loan has an interest rate of SOFR minus 1.30% with a SOFR floor of 3.50%, for an all-in rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.02%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.21pt; position: var(--position); white-space: pre; width: 24.15pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 604.58pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(8)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 683.93pt">Subordinate loans include: (i) loans in which we have previously originated a whole loan and sold a senior mortgage interest to a third party, resulting in these subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.43pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 683.83pt">interests in mortgages, (ii) mezzanine loans, and (iii) the subordinate portion of loans that have been modified that have resulted in a restructured senior loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.33pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 68.82pt">subordinate loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.32pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 544.82pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre; width: 11.66pt">(9)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 683.88pt">These subordinate loans are the result of a loan modification which resulted in a restructured senior loan and a subordinate loan. All of the subordinate loans are accounted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 751.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 556.32pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 67.5pt; position: var(--position); white-space: pre; width: 143.46pt">for under the cost-recovery method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.96pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 612pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 792pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 540pt"><div style="width: 711pt"><div style="line-height: 10pt; position: var(--position); top: 49.42pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391pt; position: var(--position); white-space: pre">89<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 711pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_549755815607"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 40.5pt; position: var(--position); text-decoration: underline; white-space: pre">VII. REO Asset Details<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 71.5pt; width: 792pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.5pt; position: var(--position); white-space: pre">The following table provides details of our REO asset as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.97pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.19pt; position: var(--position); white-space: pre"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 92.19pt; width: 792pt"><div style="font-size: 0pt; left: 40.5pt; position: var(--position); top: 0pt; width: 708pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 18pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 135pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 135pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 135pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 135pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 135pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 0pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.97pt; position: var(--position); white-space: pre">Acquisition Date<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 0pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 52.4pt; position: var(--position); white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 0pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.52pt; position: var(--position); white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 0pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.66pt; position: var(--position); white-space: pre">Acquisition Date Fair Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 0pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 33.3pt; position: var(--position); text-decoration: none; white-space: pre">SQFT / Units / Keys<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 12.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">March 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 12.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Mountain View, CA<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 12.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 12.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 109.58999999999999pt; position: var(--position)">60,203<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 12.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 92.38pt; position: var(--position); white-space: pre">150,507 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 25.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">July 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 25.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">San Antonio, TX<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 25.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 25.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 106.96pt"></span></span><span style="left: 109.58999999999999pt; position: var(--position)">33,607<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 25.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 102.82pt; position: var(--position); white-space: pre">388 units<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 38.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 38.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Burlington, MA<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 38.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 38.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 106.96pt"></span></span><span style="left: 109.58999999999999pt; position: var(--position)">64,628<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 38.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 92.38pt; position: var(--position); white-space: pre">379,018 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 51pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 51pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Washington, DC<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 51pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 51pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 105.58999999999999pt; position: var(--position)">107,016<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 51pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 94.26pt; position: var(--position); text-decoration: none; white-space: pre">892,480 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 63.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 63.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">San Francisco, CA<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 63.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 63.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 105.58999999999999pt; position: var(--position)">201,530<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 63.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 103.71pt; position: var(--position); white-space: pre">686 keys<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 76.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 76.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 76.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">El Segundo, CA<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 76.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 76.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 105.58999999999999pt; position: var(--position)">145,363<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 76.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 92.38pt; position: var(--position); white-space: pre">494,532 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 89.25pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 89.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 89.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Denver, CO<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 89.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 89.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 106.96pt"></span></span><span style="left: 109.58999999999999pt; position: var(--position)">33,337<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 89.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 92.38pt; position: var(--position); white-space: pre">170,304 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 102pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">February 2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 102pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Chicago, IL<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 102pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 102pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 106.96pt"></span></span><span style="left: 109.58999999999999pt; position: var(--position)">45,045<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 102pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 92.38pt; position: var(--position); white-space: pre">517,115 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114.75pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 11.37pt; position: var(--position); text-decoration: none; white-space: pre">9<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 114.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 114.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Atlanta, GA<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 114.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 114.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 105.58999999999999pt; position: var(--position)">132,974<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 114.75pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 88.26pt; position: var(--position); text-decoration: none; white-space: pre">1,184,916 sqft<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 127.5pt; width: 18pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 18pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 7.37pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 21pt; position: var(--position); top: 127.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 159pt; position: var(--position); top: 127.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York, NY<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 297pt; position: var(--position); top: 127.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 127.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 5.54pt; width: 102.96pt"></span></span><span style="left: 105.58999999999999pt; position: var(--position)">228,253<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 573pt; position: var(--position); top: 127.5pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 105.59pt; position: var(--position); text-decoration: none; white-space: pre">933 keys<span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435pt; position: var(--position); top: 140.25pt; width: 135pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 135pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 5.54pt; width: 92.96pt"></span></span><span style="left: 99.58999999999999pt; position: var(--position)">1,051,956<span style="display: inline-block; height: 5.54pt; width: 2.66pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">90<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_160"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 3.<span style="display: inline-block; height: 6.77pt; width: 35.36pt"></span></span><span style="left: 130.5pt; position: var(--position)">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); top: 72pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Interest Rate Risk <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 102pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 163.12pt">Investment Portfolio Net Interest Income<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 221.62pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 120pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Generally, our business model is such that rising interest rates will increase our net income, while declining interest rates<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 131.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 137.8pt">will decrease net income. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.34pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.64pt; position: var(--position); white-space: pre; width: 6.56pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.53pt; position: var(--position); white-space: pre; width: 58.99pt"> of our loans <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.17pt">by principal balance <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.69pt; position: var(--position); white-space: pre; width: 101.65pt">earned a floating rate of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 143pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">interest, primarily indexed to SOFR, and were financed with liabilities that pay interest at floating rates, which resulted in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 154.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">an amount of net equity that is positively correlated to changing interest rates, subject to the impact of interest rate floors on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 166pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 130.94pt">certain of our floating rate loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 189.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">The following table projects the earnings impact on our interest income and expense, presented net of implied changes in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 201pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 229.16pt">incentive fees, for the twelve-month period following <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.96pt"><span style="background-color: inherit">, of an increase in the various floating-rate</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 212.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt"><span style="background-color: inherit">indices referenced by our portfolio, assuming no change in credit spreads, portfolio composition, or asset performance,</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 224pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.04pt"><span style="background-color: inherit">relative to the average indices during the </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 223.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.25pt"><span style="background-color: inherit">three months ended</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.78999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt"><span style="background-color: inherit">September&#160;30, 2025</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"><span style="background-color: inherit"> ($ in thousands):</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 235.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 249.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 138pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 68.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 2.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 68.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 68.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 68.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 68.25pt"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="3" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="3" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141.75pt; position: var(--position); top: 0pt; width: 68.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.8pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.71pt; position: var(--position); white-space: pre">Assets (Liabilities) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.99pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.7pt; position: var(--position); white-space: pre">Sensitive to <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 24.18pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.14pt; position: var(--position); white-space: pre">Changes in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 33.37pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.23pt; position: var(--position); white-space: pre">Interest Rates<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 54.95pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 0pt; width: 282pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.75pt; width: 282pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 50.57pt; position: var(--position); white-space: pre">Interest Rate Sensitivity as of <span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 152.47pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 219.31pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 15pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 15pt; width: 139.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 139.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 40.44pt; position: var(--position); text-decoration: none; white-space: pre">Increase in Rates<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 354.75pt; position: var(--position); top: 15pt; width: 139.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 139.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 39.56pt; position: var(--position); text-decoration: none; white-space: pre">Decrease in Rates<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 27.75pt; width: 68.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.58pt; position: var(--position); white-space: pre">50 Basis Points<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 59.66pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 283.5pt; position: var(--position); top: 27.75pt; width: 68.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 68.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.58pt; position: var(--position); white-space: pre">100 Basis Points<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 61.66pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 354.75pt; position: var(--position); top: 27.75pt; width: 68.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.68pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.58pt; position: var(--position); text-decoration: none; white-space: pre">50 Basis Points<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 27.75pt; width: 68.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.68pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.58pt; position: var(--position); text-decoration: none; white-space: pre">100 Basis Points<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.62pt; position: var(--position); white-space: pre">Floating rate assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 80.18pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)(5)(6)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141.75pt; position: var(--position); top: 42pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 11.54pt"></span></span><span style="left: 19.169999999999998pt; position: var(--position)">16,625,727<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 42pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.04pt"></span></span><span style="left: 36.67pt; position: var(--position)">66,331<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 283.5pt; position: var(--position); top: 42pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.04pt"></span></span><span style="left: 31.669999999999998pt; position: var(--position)">132,834<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 354.75pt; position: var(--position); top: 42pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.71pt"></span></span><span style="left: 33.34pt; position: var(--position)">(65,964)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 42pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 28.34pt; position: var(--position)">(125,093)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Floating rate liabilities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 93.03pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)(6)(7)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141.75pt; position: var(--position); top: 57pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.96pt; position: var(--position); text-decoration: none; white-space: pre">(14,915,766)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 57pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.46pt; position: var(--position); text-decoration: none; white-space: pre">(59,663)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 283.5pt; position: var(--position); top: 57pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">(119,326)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 354.75pt; position: var(--position); top: 57pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.12pt; position: var(--position); text-decoration: none; white-space: pre">59,663<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 57pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 33.12pt; position: var(--position); text-decoration: none; white-space: pre">119,326<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.63pt; position: var(--position); text-decoration: none; white-space: pre">Net exposure<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141.75pt; position: var(--position); top: 72pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.54pt"></span></span><span style="left: 24.169999999999998pt; position: var(--position)">1,709,961<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 212.25pt; position: var(--position); top: 72pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.04pt"></span></span><span style="left: 41.67pt; position: var(--position)">6,668<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 283.5pt; position: var(--position); top: 72pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.04pt"></span></span><span style="left: 36.67pt; position: var(--position)">13,508<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 354.75pt; position: var(--position); top: 72pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.71pt"></span></span><span style="left: 38.34pt; position: var(--position)">(6,301)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 426pt; position: var(--position); top: 72pt; width: 68.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 68.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.71pt"></span></span><span style="left: 38.34pt; position: var(--position)">(5,767)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 341.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 351.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 424.14pt">Reflects the USD equivalent value of floating rate assets and liabilities denominated in foreign currencies.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.64pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 362.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.96pt">Increases (decreases) in interest income and expense are presented net of theoretical impact of incentive fees. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 374.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 16<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.69pt; position: var(--position); white-space: pre; width: 375.58pt"> to our consolidated financial statements for additional details of our incentive fee calculation.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.27pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 302.99pt">Excludes income from loans accounted for under the cost-recovery method.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 397.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 39.12pt">Excludes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.7pt; position: var(--position); white-space: pre; width: 125.95pt"> of floating rate impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Our loan agreements generally require our borrowers to purchase interest rate caps, which mitigates our borrowers&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 420.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 157pt">exposure to an increase in interest rates<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.5pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 431.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 286.05pt">Excludes amounts related to our investments in unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.55pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(7)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.97pt">Includes amounts outstanding under our secured debt, securitizations, asset-specific debt, Term Loans, and Senior<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 408.43pt">Secured Notes due 2029, for which we entered into an interest rate swap with a notional amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.45pt">$450.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.94pt">that effectively converts our fixed rate exposure to floating rate exposure for such notes. Excludes amounts related to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 189.79pt">the indebtedness of our unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.28999999999996pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 507.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Investment Portfolio Value <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 26.16pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.6pt; position: var(--position); white-space: pre; width: 5.86pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.79pt; position: var(--position); white-space: pre; width: 56.19pt"> of our loans <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.71pt">by principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.69pt; position: var(--position); white-space: pre; width: 223.63pt"> earned a floating rate of interest, so the value of such<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">investments is generally not impacted by changes in market interest rates. Additionally, we generally hold all of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">to maturity and so do not expect to realize gains or losses resulting from any mark to market valuation adjustments on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 559.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 57.17pt">loan portfolio.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.67pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 588.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">Risk of Non-Performance<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 606.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">In addition to the risks related to fluctuations in cash flows and asset values associated with movements in interest rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">there is also the risk of non-performance on floating rate assets. In the case of a significant increase in interest rates, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">cash flows of the collateral real estate assets may not be sufficient to pay debt service due under our loans, which may<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">contribute to non-performance or, in severe cases, default. This risk is partially mitigated by our consideration of rising rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 652.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">stress-testing during our underwriting process, which generally includes a requirement for our borrower to purchase an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 663.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">interest rate cap contract with an unaffiliated third party, provide an interest reserve deposit, and/or provide interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 675.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.74pt">guarantees or other structural protections.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.24pt; position: var(--position); white-space: pre; width: 28.86pt"> As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.6pt; position: var(--position); white-space: pre; width: 5.64pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.57pt; position: var(--position); white-space: pre; width: 191.86pt"> of our performing loans had interest rate caps,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 163.53pt">with a weighted-average strike price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">3.7%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.86pt; position: var(--position); white-space: pre; width: 145.81pt">, or interest guarantees. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.11pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 465.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.31pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.84pt"><span style="background-color: inherit">September&#160;30, 2025</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.9300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit">,</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698.4pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.78pt"><span style="background-color: inherit">interest rate caps on </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 47pt">$6.5&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 119.59pt"><span style="background-color: inherit"> of performing loans, with a </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><span style="background-color: inherit">3.7%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.56pt"><span style="background-color: inherit"> weighted-average strike price, expired and </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt"><span style="background-color: inherit">93%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.5899999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.83pt"><span style="background-color: inherit"> were</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709.9pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.5pt"><span style="background-color: inherit">replaced with new interest rate caps, with a weighted-average strike price of </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"><span style="background-color: inherit">3.8%</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.93pt"><span style="background-color: inherit">, or interest guarantees.</span><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">91<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 53.57pt">Credit Risks<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 112.07pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Our loans are subject to credit risk, including the risk of default. The performance and value of our loans depend upon the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.9pt">borrowers&#8217; ability to operate the properties that serve as our collateral so that they produce cash flows adequate to pay<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.86pt">interest and principal due to us. To monitor this risk, our asset management team reviews our loan portfolios and, in certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">instances, is in regular contact with our borrowers, monitoring performance of the collateral and enforcing our rights as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 41.33pt">necessary.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">In addition, we are exposed to the risks generally associated with the commercial real estate market, including changes in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">occupancy rates, capitalization rates, absorption rates, and other macroeconomic factors beyond our control. We seek to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 314.67pt">manage these risks through our underwriting and asset management processes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">We maintain a robust asset management relationship with our borrowers and utilize these relationships to maximize the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">performance of our portfolio, including during periods of volatility. We believe that we benefit from these relationships and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">from our long-standing core business model of originating senior loans collateralized by large assets in major markets with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">experienced, well-capitalized institutional sponsors. While we believe the principal amounts of our loans are generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">adequately protected by underlying collateral value, there is a risk that we will not realize the entire principal value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 81.75pt">certain loans. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 81pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.25pt; position: var(--position); white-space: pre; width: 91.28pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.24pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.77pt; position: var(--position); white-space: pre; width: 160.42pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.19pt; position: var(--position); white-space: pre; width: 11.22pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 280.48pt">our loans receivable, with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.8pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.78pt; position: var(--position); white-space: pre; width: 165.59pt">, net of cost-recovery proceeds, and a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 154.41pt">concentration in the office sector with <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.88pt">$382.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.78999999999996pt; position: var(--position); white-space: pre; width: 281.68pt"> of reserves. This CECL reserve was recorded based on our estimation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 257.17pt">of the fair value of each of the loan&#8217;s underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.89pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">Our portfolio monitoring and asset management operations benefit from the deep knowledge, experience, and information<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">advantages derived from our position as part of Blackstone&#8217;s real estate platform. Blackstone has built the world's<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">preeminent global real estate business, with a proven track record of successfully navigating market cycles and emerging<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">stronger through periods of volatility. The market-leading real estate expertise derived from the strength of the Blackstone<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">platform deeply informs our credit and underwriting process, and we believe gives us the tools to expertly asset manage<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 391.91pt">our portfolio and work with our borrowers throughout periods of economic stress and uncertainty.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 390pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Capital Market Risks <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">We are exposed to risks related to the equity capital markets, and our related ability to raise capital through the issuance of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.8pt">our class A common stock or other equity instruments. We are also exposed to risks related to the debt capital markets, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 495pt">our related ability to finance our business through borrowings under credit facilities or other debt instruments. As a REIT,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">we are required to distribute a significant portion of our taxable income annually, which constrains our ability to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">accumulate operating cash flow and therefore requires us to utilize debt or equity capital to finance our business. We seek<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">to mitigate these risks by monitoring the debt and equity capital markets to inform our decisions on the amount, timing, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 100.12pt">terms of capital we raise.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.62pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.93pt">Margin call provisions under our credit facilities do not permit valuation adjustments based on capital markets events, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 413.51pt">are limited to collateral-specific credit marks generally determined on a commercially reasonable basis.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 541pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Counterparty Risk<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">The nature of our business requires us to hold our cash and cash equivalents and obtain financing from various financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">institutions. This exposes us to the risk that these financial institutions may not fulfill their obligations to us under these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.89pt">various contractual arrangements. We mitigate this exposure by depositing our cash and cash equivalents and entering into<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 231.94pt">financing agreements with high credit-quality institutions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">The nature of our loans also exposes us to the risk that our counterparties do not make required interest and principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.88pt">payments on scheduled due dates. We seek to manage this risk through a comprehensive credit analysis prior to making a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 416.17pt">loan and active monitoring of the asset portfolios that serve as our collateral, as further discussed above.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Currency Risk <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">Our loans that are denominated in a foreign currency are also subject to risks related to fluctuations in currency rates. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.82pt">generally mitigate this exposure by matching the currency of our assets to the currency of the financing for our assets. As a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">result, we substantially reduce our exposure to changes in portfolio value related to changes in foreign currency rates. In<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">92<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">addition, substantially all of our net asset exposure to foreign currencies has been hedged with foreign currency forward<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 60.2pt">contracts as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.92pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 481.93pt">The following tables outline our assets and liabilities that are denominated in a foreign currency (amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 540.4300000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 100.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 270.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 72pt"/></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 270.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 270.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 0pt; width: 223.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 223.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 78.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 12.75pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.83pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 26.67pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 12.75pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.83pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 26.39pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 12.75pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.83pt; width: 72pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 12.58pt; position: var(--position); white-space: pre">All Other<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 53.36pt; position: var(--position); top: -2.3694999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.4005pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 270.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 270.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign currency assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 27pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">2,402,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 27pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">2,236,903<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 27pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">2,115,143<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42pt; width: 270.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 270.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign currency liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 42pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.71pt; position: var(--position); text-decoration: none; white-space: pre">(1,696,528)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 42pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.71pt; position: var(--position); text-decoration: none; white-space: pre">(1,572,806)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 42pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.71pt; position: var(--position); text-decoration: none; white-space: pre">(1,663,414)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 270.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 270.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign currency contracts &#8211; notional<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 57pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.21pt; position: var(--position); text-decoration: none; white-space: pre">(700,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 57pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.21pt; position: var(--position); text-decoration: none; white-space: pre">(657,309)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 57pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.21pt; position: var(--position); text-decoration: none; white-space: pre">(443,607)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 270.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 270.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net exposure to exchange rate fluctuations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 72pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">5,677<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 72pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">6,788<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 72pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">8,122<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87pt; width: 270.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 270.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Net exposure to exchange rate fluctuations in USD<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 206.01pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 270.75pt; position: var(--position); top: 87pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">7,633<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 346.5pt; position: var(--position); top: 87pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">7,966<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 422.25pt; position: var(--position); top: 87pt; width: 72pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.79pt"></span></span><span style="left: 45.42pt; position: var(--position)">8,122<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 207.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 217pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 306.04pt">Includes Swedish Krona, Australian Dollar, and Canadian Dollar currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); white-space: pre; width: 175.08pt">Represents the U.S. Dollar equivalent as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 349.8pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 270pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_175"></div><div style="line-height: 10pt; position: var(--position); top: 270pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 4.<span style="display: inline-block; height: 6.77pt; width: 35.36pt"></span></span><span style="left: 130.5pt; position: var(--position)">CONTROLS AND PROCEDURES <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); top: 287.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre">Evaluation of Disclosure Controls and Procedures <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 305pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">The company maintains disclosure controls and procedures (as that term is defined in Rules 13a-15(e) and 15d-15(e) under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.84pt">the Exchange Act) that are designed to ensure that information required to be disclosed in the company&#8217;s reports under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.97pt">Exchange Act is recorded, processed, and summarized and reported within the time periods specified in the SEC&#8217;s rules<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 339.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">and forms, and that such information is accumulated and communicated to the company&#8217;s management, including its Chief<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 351pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 362.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 374pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">achieving the desired control objectives. An evaluation of the effectiveness of the design and operation of our disclosure<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 278.75pt">controls and procedures as of the end of the period covered by this <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.28pt">Quarterly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 375.53pt; position: var(--position); white-space: pre; width: 72.05pt"> Report on Form <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.55pt">10-Q<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.13pt; position: var(--position); white-space: pre; width: 85.33pt"> was made under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 397pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">Officer. Based upon this evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 420pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.94pt">disclosure controls and procedures (a) are effective to ensure that information required to be disclosed by us in reports filed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 431.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.87pt">or submitted under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.98pt">SEC rules and forms and (b) include, without limitation, controls and procedures designed to ensure that information<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.85pt">required to be disclosed by us in reports filed or submitted under the Exchange Act is accumulated and communicated to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.99pt">our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 159.27pt">decisions regarding required disclosure.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.77pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); white-space: pre; width: 233.16pt">Changes in Internal Control Over Financial Reporting<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">There have been no changes in our &#8220;internal control over financial reporting&#8221; (as defined in Rule 13a&#8211;15(f) of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 536pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">Exchange Act) that occurred during our most recent quarter that have materially affected, or are reasonably likely to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 247.14pt">materially affect, our internal control over financial reporting.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 305.64pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">93<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_181"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 228.27pt; position: var(--position); white-space: pre">PART II. OTHER INFORMATION <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="position: absolute; top: 77pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_184"></div><div style="line-height: 10pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 1. <span style="display: inline-block; height: 6.77pt; width: 19.36pt"></span></span><span style="left: 117pt; position: var(--position)">LEGAL PROCEEDINGS <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.91pt">From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); white-space: pre; width: 228.88pt">, we were not involved in any material legal proceedings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 126.5pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_187"></div><div style="line-height: 10pt; position: var(--position); top: 126.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 1A. <span style="display: inline-block; height: 6.77pt; width: 12.14pt"></span></span><span style="left: 117pt; position: var(--position)">RISK FACTORS <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 144pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.95pt">There have been no material changes to the risk factors previously disclosed under &#8220;Part I, Item 1A. Risk Factors&#8221; of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 155.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 196.23pt">Annual Report on Form 10-K for the year ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.27pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">94<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_190"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 2. <span style="display: inline-block; height: 6.77pt; width: 19.36pt"></span></span><span style="left: 117pt; position: var(--position)">UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS<span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 471.68pt">The following table sets forth information regarding repurchases of shares of our class A common stock during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.1800000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.23pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 185.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"/></tr><tr style="height: 50.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 185.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 41.62pt; width: 185.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Period<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 185.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 32.51pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.17pt; position: var(--position); text-decoration: none; white-space: pre">Total Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 41.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.29pt; position: var(--position); text-decoration: none; white-space: pre">Shares Purchased<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 32.51pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.79pt; position: var(--position); white-space: pre">Average Price <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 41.62pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.31pt; position: var(--position); white-space: pre">Paid per Share<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 57.370000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 331.5pt; position: var(--position); top: 0pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.18pt; width: 75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.86pt; position: var(--position); white-space: pre">Total Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.29pt; width: 75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.97pt; position: var(--position); white-space: pre">Shares Purchased <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.4pt; width: 75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.08pt; position: var(--position); white-space: pre">as Part of Publicly <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.51pt; width: 75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Announced Plans or <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 41.62pt; width: 75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.59pt; position: var(--position); white-space: pre">Programs<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 51.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.18pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.85pt; position: var(--position); white-space: pre">Approximate Dollar <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.29pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.63pt; position: var(--position); white-space: pre">Value of Shares that <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.4pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.19pt; position: var(--position); white-space: pre">May Yet Be Purchased <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 32.51pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.85pt; position: var(--position); white-space: pre">Under the Program<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 41.62pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.03pt; position: var(--position); white-space: pre">($ in thousands)<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 66.64999999999999pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 185.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 185.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">July 1 - July 31, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 185.25pt; position: var(--position); top: 50.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 50.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 331.5pt; position: var(--position); top: 50.25pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 62.37pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 50.25pt; width: 84.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 45.54pt"></span></span><span style="left: 53.17pt; position: var(--position)">89,150<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 185.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 185.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">August 1 - August 31, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 185.25pt; position: var(--position); top: 65.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">105,265<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 65.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">18.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 331.5pt; position: var(--position); top: 65.25pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.87pt; position: var(--position); text-decoration: none; white-space: pre">105,265<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 65.25pt; width: 84.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 50.54pt"></span></span><span style="left: 53.17pt; position: var(--position)">87,207<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 185.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 185.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 1 - September 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 185.25pt; position: var(--position); top: 80.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">753,382<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 80.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">18.72<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 331.5pt; position: var(--position); top: 80.25pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.87pt; position: var(--position); text-decoration: none; white-space: pre">753,382<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 80.25pt; width: 84.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 50.54pt"></span></span><span style="left: 53.17pt; position: var(--position)">73,102<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 185.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 185.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 185.25pt; position: var(--position); top: 95.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">858,647<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 95.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">18.69<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 331.5pt; position: var(--position); top: 95.25pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.87pt; position: var(--position); text-decoration: none; white-space: pre">858,647<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 95.25pt; width: 84.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 45.54pt"></span></span><span style="left: 53.17pt; position: var(--position)">73,102<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"/></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"/></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 231.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 420.8pt">The average price paid per share is calculated on a trade date basis and excludes associated commissions.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 248.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.82pt">In July 2024, our board of directors authorized the repurchase of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.06pt">$150.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.11pt"> of our class A common stock.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 260.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Under the repurchase program, repurchases may be made from time to time in open market transactions, in privately<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 271.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">negotiated transactions, in agreements and arrangements structured in a manner consistent with Rules 10b-18 and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">10b5-1 under the Exchange Act or otherwise. The timing and the actual amounts repurchased will depend on a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">variety of factors, including legal requirements, price and economic and market conditions. The repurchase program<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 415.15pt">may be changed, suspended or discontinued at any time and does not have a specified expiration date.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.65pt; position: var(--position); white-space: pre; width: 20.4pt"> See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 521.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.41pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 467.97pt">to our consolidated financial statements and &#8220;Part I. Item 2. Management&#8217;s Discussion and Analysis of Financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 337.76pt">Condition and Results of Operations &#8212; Liquidity and Capital Resources &#8212; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.9pt">Uses of Liquidity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.16pt; position: var(--position); white-space: pre; width: 54.24pt">&#8221; for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); white-space: pre; width: 350.48pt">information regarding this repurchase program, including activity during October 2025.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">95<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_193"></div><div style="line-height: 12pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 3. <span style="display: inline-block; height: 8.32pt; width: 19.36pt"></span></span><span style="left: 117pt; position: var(--position)">DEFAULTS UPON SENIOR SECURITIES<span style="display: inline-block; height: 8.32pt"></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 304.97pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 73.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 24.15pt">None.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.65pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 94.3pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_196"></div><div style="line-height: 10pt; position: var(--position); top: 94.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 4. <span style="display: inline-block; height: 6.77pt; width: 19.36pt"></span></span><span style="left: 117pt; position: var(--position)">MINE SAFETY DISCLOSURES <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 61.02pt">Not applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.52000000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: absolute; top: 132.3pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_199"></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 132.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; text-decoration: none; white-space: pre"><span style="left: 58.5pt; position: var(--position)">ITEM 5. <span style="display: inline-block; height: 6.77pt; width: 19.36pt"></span></span><span style="left: 117pt; position: var(--position)">OTHER INFORMATION <span style="display: inline-block; height: 6.77pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 149.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.65pt"><ix:nonNumeric contextRef="c-15" name="ecd:NonRule10b51ArrAdoptedFlag" format="ixt:fixed-false" id="f-2675"><ix:nonNumeric contextRef="c-15" name="ecd:Rule10b51ArrTrmntdFlag" format="ixt:fixed-false" id="f-2676"><ix:nonNumeric contextRef="c-15" name="ecd:NonRule10b51ArrTrmntdFlag" format="ixt:fixed-false" id="f-2677"><ix:nonNumeric contextRef="c-15" name="ecd:Rule10b51ArrAdoptedFlag" format="ixt:fixed-false" id="f-2678">None</ix:nonNumeric></ix:nonNumeric></ix:nonNumeric></ix:nonNumeric><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 80.15pt; position: var(--position); white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">96<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="-sec-extract: summary; left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_205"></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 123.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 66pt"/></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">ITEM 6.<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 57.75pt; position: var(--position); top: 0pt; width: 66pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">EXHIBITS <span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 84.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 449.25pt"/></tr><tr style="height: 35.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">10.1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 0pt; width: 449.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit1013q25.htm">Twelfth Amendment to Term Loan Credit Agreement, dated as of August 6, 2025, by and among Blackstone </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 13.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit1013q25.htm">Mortgage Trust, Inc., the subsidiary guarantors party thereto, each lender party thereto and JPMorgan Chase </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 23.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit1013q25.htm">Bank, N.A., as administrative agent.</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">31.1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 38.25pt; width: 449.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 443.9pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3113q25.htm">Certification of Chief Executive Officer, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.53pt; position: var(--position); text-decoration: underline; white-space: pre; width: 2.5pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3113q25.htm"> </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 13.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre; width: 20pt"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3113q25.htm">2002</a><span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">31.2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 66pt; width: 449.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3123q25.htm">Certification of Chief Financial Officer, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.31pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">32.1 +<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 84pt; width: 449.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3213q25.htm">Certification of Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 14.95pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3213q25.htm">906 of the Sarbanes-Oxley Act of 2002</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.73pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 113.25pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">32.2 +<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 113.25pt; width: 449.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3223q25.htm">Certification of Chief Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section </a><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 14.95pt; width: 449.25pt"><span style="color: #0000ff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre"><a style="-sec-extract: exhibit; color: inherit; text-decoration: inherit; z-index: 1" href="exhibit3223q25.htm">906 of the Sarbanes-Oxley Act of 2002</a><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.73pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 142.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.INS<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 142.5pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.88pt">XBRL Instance Document &#8211; the instance document does not appear in the interactive data file because its<span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 15.15pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.49pt">XBRL tags are embedded within the inline XBRL document<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="2" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.SCH<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 171.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.77pt">Inline XBRL Taxonomy Extension Schema Document With Embedded Linkbase Documents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 189.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.CAL<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 189.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 272.47pt">Inline XBRL Taxonomy Extension Calculation Linkbase Document<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 207.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.DEF<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 207.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 267.5pt">Inline XBRL Taxonomy Extension Definition Linkbase Document<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 225.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.LAB<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 225.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.17pt">Inline XBRL Taxonomy Extension Label Linkbase Document<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 243.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">101.PRE<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 243.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 275.82pt">Inline XBRL Taxonomy Extension Presentation Linkbase Document<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261.75pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">104<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 45.75pt; position: var(--position); top: 261.75pt; width: 449.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 449.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.6pt">Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="line-height: 10pt; position: var(--position); top: 366.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">___________<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre">+<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 64.13pt; position: var(--position); white-space: pre">&#160; &#160; <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.13pt; position: var(--position); white-space: pre">This exhibit shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Exchange Act or otherwise subject to the <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 403.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre">liability of that Section. Such exhibit shall not be deemed incorporated into any filing under the Securities Act or the <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 414.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); white-space: pre">Exchange Act.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">The agreements and other documents filed as exhibits to this report are not intended to provide factual information or other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">disclosure other than with respect to the terms of the agreements or other documents themselves, and you should not rely<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.92pt">on them for that purpose. In particular, any representations and warranties made by us in these agreements or other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 494.96pt">documents were made solely within the specific context of the relevant agreement or document and may not describe the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 287.91pt">actual state of affairs as of the date they were made or at any other time.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="--justify: justify; --position: absolute; background-color: #FFFFFF; border: 1px solid #CCCC; content-visibility: auto; float: none; font-family: Arial, Sans Serif; font-size: 0; height: 792pt; margin: 10px auto 10px auto; overflow: hidden; padding: 0; position: relative; width: 612pt; word-wrap: break-word"><div style="left: 0pt; position: var(--position); top: 738pt"><div style="width: 495pt"><div style="line-height: 10pt; position: var(--position); top: 31.42pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301pt; position: var(--position); white-space: pre">97<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div><div style="left: 0pt; position: var(--position); top: 0pt"><div style="width: 553pt"></div></div><div><div style="position: absolute; top: 54pt" id="i5ae6f12e6eaa48489e39f30d79f48abd_208"></div><div style="line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 273.51pt; position: var(--position); white-space: pre">SIGNATURES <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.98pt; position: var(--position); white-space: pre; width: 470.43pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.41pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre; width: 264.19pt">signed on its behalf by the undersigned thereunto duly authorized.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.69pt; position: var(--position); white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 12pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 114.3pt; width: 612pt"><div style="font-size: 0pt; left: 81.75pt; position: var(--position); top: 0pt; width: 448.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 143.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"/><td colspan="1" rowspan="1" style="padding: 0; width: 246pt"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 0pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 184.04pt">BLACKSTONE MORTGAGE TRUST, INC.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 30pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 29, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 30pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.54pt">/s/ Katharine A. Keenan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 45pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.85pt">Date<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 45pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.61pt">Katharine A. Keenan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 60pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.96pt">Chief Executive Officer<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 75pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.49pt">(Principal Executive Officer)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 29, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 105pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.78pt">/s/ Anthony F. Marone, Jr.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.85pt">Date<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 120pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.85pt">Anthony F. Marone, Jr.<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 135pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.19pt">Chief Financial Officer<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 150pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.72pt">(Principal Financial Officer)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 180pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 29, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 180pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.01pt">/s/ Marcin Urbaszek<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 195pt; width: 143.25pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.85pt">Date<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 195pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.08pt">Marcin Urbaszek<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 210pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.11pt">Deputy Chief Financial Officer<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"/><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 202.5pt; position: var(--position); top: 225pt; width: 246pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.18pt">(Principal Accounting Officer)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div></div></div></body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit1013q25.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<title>Document</title></head><body><div id="i85638e1c04c844879c420e1234263adb_42"></div><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Execution Version</font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div style="margin-top:10.7pt;text-align:center"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:700;line-height:120%">TWELFTH AMENDMENT TO TERM LOAN CREDIT AGREEMENT</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">This TWELFTH AMENDMENT TO TERM LOAN CREDIT AGREEMENT, dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.229em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">August 6, 2025</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;),</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">is</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">entered</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">into</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">among</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Blackstone</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Mortgage Trust,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Inc.,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Maryland</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">corporation</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Borrower</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;),</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">subsidiary</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">guarantors</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">party</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">hereto,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each Additional</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">defined</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">below)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">party</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">hereto,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Incremental</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term B-7 Lender (as defined below) party hereto, and JPMorgan Chase Bank, N.A., in its capacities as administrative agent and collateral agent (in such capacities and together with its successors and permitted</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">assigns,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Administrative</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Agent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;). Capitalized</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">terms</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">used</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">not</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">otherwise</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">defined herein shall have the meanings assigned to them in the Amended Credit Agreement (as defined below).</font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="margin-top:4.5pt;text-align:center"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">PRELIMINARY STATEMENTS&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">WHEREAS, the Borrower, the Lenders from time to time party thereto and the Administrative Agent have entered into that certain Term Loan Credit Agreement dated as of April</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">23,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2019</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">First</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of November</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">19,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2019,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Second</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">May</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">20, 2020,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Third</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">June</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">11,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2020,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Fourth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">February</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">19,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2021,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Fifth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment to Term Loan Credit Agreement, dated as of June 21, 2021, the Sixth Amendment to Term Loan Credit Agreement, dated as of May 9, 2022, the Seventh Amendment to Term Loan Credit Agreement, dated as of November 4, 2022, the Eighth Amendment to Term Loan Credit Agreement, dated as of June 7, 2023, the Ninth Amendment to Term Loan Credit Agreement, dated as of September 13, 2024, the Tenth Amendment to Term Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.183em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit Agreement, dated as of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">December</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">10,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2024, the Eleventh Amendment to Term Loan Credit Agreement, dated as of June 18, 2025,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">further</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amended,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">restated,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">supplemented</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">otherwise</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">modified</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">from time to time prior to, but not including, the date hereof, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Existing Credit Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;). The Existing Credit Agreement, as amended by this Twelfth Amendment, is referred to herein as the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Amended Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">WHEREAS, pursuant to the Existing Credit Agreement, the Lenders thereunder extended certain</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">facilities</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Borrower</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">consisting</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">2019</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">New</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-4</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and Term B-6</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">WHEREAS, the Borrower desires to (i) refinance all of its Term B-4 Loans with Refinancing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Indebtedness</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">pursuant</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Section</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">9.02(c)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">form of Replacement Term Loans in an aggregate principal amount of $403,104,636.60 and having the terms set forth in this Twelfth Amendment (the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Replacement Term B-7 Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;), (ii) incur Incremental Term Loans pursuant to Section 2.22 of the Amended Credit Agreement in the form of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">additional</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">an</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">aggregate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">principal</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amount</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">$50,000,000.00</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Incremental</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">together</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">B-7 Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;) and (iii) make related amendments to certain provisions of the Existing Credit Agreement, in each case, upon the terms and subject to the conditions set forth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">below.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">WHEREAS,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">holding</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-4</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">immediately</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">prior</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">effectiveness of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(each,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">an</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">that</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">has</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">executed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">delivered</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a </font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">1</font></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8220;Consent to Twelfth Amendment&#8221; (a &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Consent to Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;) to the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.12em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Administrative</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agent in the form attached as </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit A</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> hereto (each, a &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Converting Term Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;) shall be deemed to have converted the entire aggregate principal amount of its Term B-4 Loans (or such lesser</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amount</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">is</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">notified</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment Arrangers (as defined below)) (each, an &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Existing Term Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;) on a cashless basis into Replacement Term B-7 Loans (such portion of the Replacement Term B-7 Loans converted from Existing Term Loans, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Converted Term Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">&#8221;) of a like principal amount to such Existing Term Loans on the Twelfth Amendment Effective Date (as defined below).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36.05pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">WHEREAS, each Person that executes and delivers a signature page to this Twelfth Amendment in the capacity of an &#8220;Additional Replacement Term B-7 Lender&#8221; (each, in such capacity, an &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Additional Replacement Term B-7 Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;&#59; the Additional Replacement Term B-7 Lenders together with the Converting Term Lenders, collectively, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Replacement Term B-7 Lenders</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;) shall make Replacement Term B-7 Loans (such portion of the Replacement Term B-7 Loans made by the Additional Replacement Term B-7 Lenders, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Additional Replacement Term B-7 Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;) to the Borrower in an aggregate principal amount equal to its &#8220;Additional Replacement Term B-7 Loan Commitments&#8221; set forth on </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Schedule 1</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt"> hereto on the Twelfth Amendment Effective Date (such commitments, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Additional Replacement Term B-7 Loan Commitments</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221; and, together with the aggregate amount of Existing Term Loans to be converted into Converted Term Loans, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Replacement Term B-7 Loan Commitments</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36.05pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">WHEREAS, each Person that executes and delivers a signature page to this Twelfth Amendment in the capacity of an &#8220;Incremental Term B-7 Lender&#8221; (each, in such capacity, an &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Incremental Term B-7 Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;&#58; the Incremental Term B-7 Lenders together with the Replacement Term B-7 Lenders, collectively, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Term B-7 Lenders</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;) shall make Incremental Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Borrower</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">an</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">aggregate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">principal</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">amount</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">equal</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">its</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8220;Incremental</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Term B-7 Loan Commitments&#8221; set forth on Schedule I hereto on the Twelfth Amendment Effective Date (such commitments, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Incremental Term B-7 Loan Commitments</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221; and, together with Replacement Term B-7 Loan Commitments, the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Term B-7 Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:12.90pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Commitments</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">WHEREAS, in connection with the incurrence of the Term B-7 Loans, the Borrower desires</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">amend</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">on</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">terms</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">set</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">forth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Annex</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">A</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">hereto,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">further set forth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">below.</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">WHEREAS, each of JPMorgan Chase Bank, N.A. and Morgan Stanley Senior Funding, Inc. will act as joint lead arrangers and joint physical bookrunners in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">connection</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Amendment, and each of Citibank, N.A., M&#38;T Bank, Wells Fargo Securities, LLC, Barclays Bank PLC, BofA Securities, Inc., Deutsche Bank Securities Inc.,  Goldman Sachs Bank USA and Banco Santander, S.A., New York Branch, will act as joint lead arrangers and joint bookrunners</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">connection</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Amendment (collectively in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">capacities,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Twelfth Amendment Arrangers</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">WHEREAS,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">related</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">extensions</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:12.90pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">application of proceeds therefrom, including payment of related expenses and other transactions described in the foregoing preliminary statements are collectively referred to herein as the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:12.90pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Transactions</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">&#8221;.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">2</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">acknowledged, and subject to the conditions set forth herein, the parties hereto hereby agree as follows&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">SECTION 1. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Replacement Term B-7 Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">. Subject only to the satisfaction of the conditions set forth in </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 5</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt"> below, on the Twelfth Amendment Effective Date&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(a)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;padding-left:22.7pt">Each Converting Term Lender hereby agrees that the entire aggregate principal amount of its Existing Term Loans (or such lesser amount as is notified to such Existing Term Lender by the Twelfth Amendment Arrangers) shall be converted on a cashless basis into Converted Term Loans on the Twelfth Amendment Effective Date in an aggregate principal amount equal to the outstanding principal amount of its Existing Term Loans (or such lesser amount</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">is</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">notified</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Arrangers)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(and, for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">avoidance</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">doubt,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Converting</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">constitute</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Converted</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">constitute</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">made</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">on the Twelfth Amendment Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Date).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(b)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;padding-left:22.02pt">Each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Additional</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">hereby</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">severally</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">agrees</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">make</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">to the Borrower Additional Replacement Term B-7 Loans on the Twelfth Amendment Effective Date in an aggregate principal amount equal to such Additional Replacement Term B-7 Lender&#8217;s Additional Replacement Term B-7 Loan Commitment (and, for the avoidance of doubt, such Additional Replacement Term B-7 Lender shall constitute a Replacement Term B-7 Lender and such Additional Replacement Term B-7 Loans shall constitute Replacement Term B-7 Loans), which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Additional</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">aggregate,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">together</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.083em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Converted Term Loans, be deemed to be incurred pursuant to a single Borrowing and Class of Replacement Term B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loans.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(c)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;padding-left:22.7pt">The proceeds of the Additional Replacement Term B-7 Loans together with cash on hand, shall be used on the Twelfth Amendment Effective Date to (i) prepay the principal amount of all Term B-4 Loans outstanding on the Twelfth Amendment Effective Date that will not be converted into Converted Term Loans pursuant to clause (a) above and (ii) all accrued and unpaid interest on the Term B-4 Loans to, but not including, the Twelfth Amendment Effective Date. This Twelfth Amendment shall constitute delivery by the Borrower of a notice of prepayment of the Term B-4 Loans in satisfaction of Section 2.11(a)(ii) of the Existing Credit Agreement (the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Refinancing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">&#8221;).</font></div><div style="margin-top:0.45pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">SECTION 2. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term B-7 Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">. Subject only to the satisfaction of the conditions set forth in Section 5 below, immediately upon giving effect to the Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Refinancing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">set</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">forth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">1</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">above,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">on</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Date&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(a)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.7pt">Each Incremental Term B-7 Lender hereby severally agrees to make to the Borrower Incremental Term B-7 Loans on the Twelfth Amendment Effective Date in an aggregate principal amount equal to such Incremental Term B-7 Lender&#8217;s Incremental Term B-7 Term Loan Commitment (and, for the avoidance of doubt, such Incremental Term B-7 Lender shall constitute a Term B-7 Lender and such Incremental Term B-7 Loans shall constitute Term B-7 Loans), which </font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">3</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Incremental Term B-7 Loans shall in the aggregate, together with the Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">B-7 Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">deemed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">incurred</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">pursuant</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">single</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Borrowing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Class of Term B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Loans.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:3.95pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(b)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.02pt">The</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">proceeds</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Incremental</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">B-7 Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">together</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">cash</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">on</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">hand,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">shall be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">used</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">on and after the Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Date</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">SECTION 3. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Amendments</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">. Subject only to the satisfaction of the conditions set forth in Section</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">5</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">below,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Borrower,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Administrative</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Agent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Lenders</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">agree</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">that</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the Existing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">is</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">hereby</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">delete</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">stricken</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">text</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(indicated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">textually</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the same manner as the following example&#58; </font><font style="color:#ed1f24;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;text-decoration:line-through">stricken text</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">) and to add the double-underlined text (indicated textually in the same manner as the following example&#58; </font><font style="color:#2e5497;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;text-decoration:underline">double-underline</font><font style="color:#2e5497;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">d text</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">) as set forth in the pages of the Amended Credit Agreement attached as Annex A</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">hereto.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">SECTION 4. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Representations and Warranties</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">On the date hereof, the Borrower hereby represents and warrants to the Term B-7 Lenders as of the date hereof</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">that&#58;</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(a)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.7pt">Each Loan Party (i) is duly organized and validly existing and (ii) is in good standing (to the extent such concept exists in the relevant jurisdiction) under the Requirements of Law of its jurisdiction of organization, except, in the case of this clause (ii), where the where the failure of such Loan Party to be in good standing would not reasonably be expected to result in a Material Adverse</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Effect.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(b)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.02pt">The execution and delivery of this Twelfth Amendment, and the performance of this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Documents</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">supplemented</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">pursuant to this Twelfth Amendment), are within each applicable Loan Party&#8217;s corporate or other organizational power and have been duly authorized by all necessary corporate or other organizational action of each such Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Party.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(c)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.7pt">This Twelfth Amendment has been duly executed and delivered by each Loan Party and is a legal, valid and binding obligation of each Loan Party, enforceable against each Loan Party in accordance with its terms, subject to the Legal</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Reservations.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(d)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt;padding-left:22.02pt">The execution and delivery of this Twelfth Amendment by each Loan Party and the performance by each applicable Loan Party of this Twelfth Amendment and the other Loan Documents (as amended and supplemented pursuant to this Twelfth Amendment) (x) do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i) such as have been obtained or made and are in full force and effect, (ii) in connection with the Perfection Requirements or (iii) such consents, approvals, registrations, filings, or other actions the failure to obtain or make which could not be reasonably expected to have a Material Adverse Effect, (y) will not violate any (i) of such Loan Party&#8217;s Organizational Documents or (ii) Requirement of Law applicable to such Loan Party which violation,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">case</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">clause</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">(y)(ii),</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">could</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">reasonably</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">expected</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">have</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Material</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.40pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">Adverse Effect and (z) will not violate or result in a default under any material Contractual Obligation to which such Loan Party is a party </font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">4</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.40pt">which violation, in the case of this clause (z), could reasonably be expected to result in a Material Adverse Effect.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(e)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;padding-left:22.7pt">No Event of Default exists immediately prior to, or shall exist immediately after, giving effect to the Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Transactions.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">SECTION 5. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Conditions to Effectiveness</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">This Twelfth Amendment shall become effective on the date (the &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Effective Date</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">&#8221;) upon which each of the following conditions is satisfied&#58;</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(a)&#160;&#160;&#160;&#160;The Administrative Agent shall have received each of the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">following&#58;</font></div><div style="padding-left:114pt;text-align:justify"><font><br></font></div><div style="text-align:justify;text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(i)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;padding-left:24.69pt">a Borrowing Request with respect to the Term B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loans&#59;</font></div><div style="text-align:justify;text-indent:72pt"><font><br></font></div><div style="text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(ii) &#160;&#160;&#160;&#160;counterparts to this Twelfth Amendment executed by the Borrower, the Subsidiary Guarantors, each Additional Replacement Term B-7 Lender, each Incremental Term B-7 Lender, and Consents to Twelfth Amendment executed by each Converting Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.108em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Lender&#59;</font></div><div style="text-align:justify;text-indent:72pt"><font><br></font></div><div style="text-align:justify;text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(iii) &#160;&#160;&#160;&#160;a certificate from a Responsible Officer of the Borrower certifying satisfaction of the condition precedent set forth in </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline">5(c)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">&#59;</font></div><div style="margin-top:0.5pt;text-indent:72pt"><font><br></font></div><div style="text-align:justify;text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(iv) &#160;&#160;&#160;&#160;a written opinion of (x) Ropes &#38; Gray LLP, in its capacity as counsel for the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Parties</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">(y)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Venable</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">LLP,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">its</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">capacity</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">local</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Maryland</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">counsel</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.70pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt">Borrower, each dated as of the date hereof and addressed to the Administrative Agent and the Term B-7 Lenders&#59;</font></div><div style="margin-top:0.05pt;text-indent:72pt"><font><br></font></div><div style="margin-top:4.5pt;text-align:justify;text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(v)&#160;&#160;&#160;&#160;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">certificate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Party,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">date</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">hereof</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">executed by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">secretary,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">assistant</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">secretary</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">similarly-titled</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Responsible</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Officer</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">thereof,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">shall certify (a) that attached thereto is a true and complete copy of the certificate or articles of incorporation,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">formation</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">organization</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Party,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">applicable,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">certified</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">relevant authority</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">its</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">jurisdiction</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">organization,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">certificate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">articles</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">incorporation,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">formation or organization of such Loan Party, as applicable, have not been amended (except as attached thereto) since the date reflected thereon (or for any Loan Party, if applicable, a certification that no</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">change</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">has</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">been</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">made</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">documents</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Party</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">since</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">date</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">that</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">documents were previously delivered to the Administrative Agent), (b) that attached thereto is a true and correct copy of the by-laws or operating, management, partnership or similar agreement of such Loan Party, as applicable, together with all amendments thereto as of the Twelfth Amendment Effective Date (or for any Loan Party, if applicable, a certification that no change has been made to such documents of such Loan Party since the date that such documents were previously delivered to the Administrative Agent) and such by-laws or operating, management, partnership or similar agreement are in full force and effect, (c) that attached thereto is a true and complete copy of the resolutions or written consent, as applicable, of its board of directors, board of managers, sole member, manager or other applicable governing body authorizing the execution, delivery and performance of this Twelfth Amendment and, in the case of the Borrower, the borrowing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">resolutions</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">consent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">have</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">not</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">been</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">modified,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">rescinded or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.137em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.133em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">than</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.137em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">attached</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.133em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">thereto)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.133em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.154em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">are</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.137em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">full</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.154em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">force</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.133em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">effect</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.137em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(d)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.14100000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.137em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the incumbency and specimen signature of each officer, manager, director or authorized signatory executing this Twelfth Amendment or any </font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">5</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-top:4.5pt;text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">other Loan Document delivered by such Loan Party in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">connection</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">therewith</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(ii)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">good</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">standing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">equivalent)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">certificate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">such</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Party,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as applicable,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">from</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">relevant</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">authority</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">its</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">jurisdiction</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">organization,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">dated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">recent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">date&#59; and</font></div><div style="margin-top:0.05pt;text-indent:72pt"><font><br></font></div><div style="margin-top:4.45pt;text-indent:72pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(vi)&#160;&#160;&#160;&#160;a solvency certificate in substantially the form of Exhibit O to the Existing Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(but</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">modifications</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">reflect</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Date)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">from the chief financial officer (or other officer with reasonably equivalent responsibilities) of the Borrower dated as of the Twelfth Amendment Effective Date and certifying as to the matters set forth therein (after giving effect to the transactions contemplated by this Twelfth Amendment to occur on the Twelfth Amendment Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Date).</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(b)&#160;&#160;&#160;&#160;Prior</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.112em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.116em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.12em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">substantially</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.10400000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">concurrently</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.12em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.125em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.12em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">funding</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.116em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.12em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.10400000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.129em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.10400000000000001em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loans, (x)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Borrower</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">have</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">paid</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">caused</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">paid</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Administrative</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agent,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">account of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Lender,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">fee</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amount</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">separately</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">agreed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">between</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment Arrangers</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.083em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.083em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Borrower,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(y)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Administrative</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.083em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Agent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Arrangers shall have received (i) all fees required to be paid by the Borrower on the Twelfth Amendment Effective Date as separately agreed among the Borrower, the Administrative Agent and the applicable Twelfth Amendment Arrangers and (ii) all expenses required to be reimbursed by the Borrower under the Existing Credit Agreement in connection with this Twelfth Amendment for which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">invoices</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">have</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">been</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">presented</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">at</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">least</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">three</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Business</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Days</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">prior</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment Effective Date or such later date to which the Borrower may agree (including the reasonable and documented fees and expenses of legal counsel required to be paid), in each case on or before the Twelfth Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Date,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">case,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">amounts</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">may</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">offset</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">against</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">proceeds</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the Term B-7 Loans and (z) the Borrower shall have consummated the Twelfth Amendment Refinancing.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(c)&#160;&#160;&#160;&#160;The representations and warranties of the Borrower set forth in Article 3 of the Existing Credit Agreement and the representations and warranties of the applicable Loan Parties set forth in the other Loan Documents (including </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 3</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> above) shall be true and correct in all material respects on and as of the Twelfth Amendment Effective Date&#59; provided that (A) in the case of any representation which expressly relates to a given date or period, such representation shall be true and correct in all material respects as of the respective date or for the respective period, as the case may be and (B) if any representation is qualified by or subject to a &#8220;material adverse effect,&#8221; &#8220;material adverse change&#8221; or similar term or qualification, such representation shall be true and correct in all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">respects.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(d) &#160;&#160;&#160;&#160;The Administrative Agent shall have received all documentation and other information</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">reasonably</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">requested</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">respect</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">any</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Party</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">writing</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Administrative Agent,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">any</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Arranger</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">at</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">least</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">seven</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">(7)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Business</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Days in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">advance</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Effective</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Date,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">documentation</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">information is required by regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the USA PATRIOT</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.00pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">Act.</font></div><div><font><br></font></div><div style="margin-top:3.95pt;padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">SECTION 6. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Counterparts</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">This</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">may</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">executed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">any</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">number</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">counterparts</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">different parties hereto on separate counterparts, each of which when so executed and delivered shall be deemed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">an</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">original,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">but</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">when</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">taken</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">together</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">constitute</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">single</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">instrument. </font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">6</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">The words &#8220;execution,&#8221; &#8220;signed,&#8221; &#8220;signature,&#8221; &#8220;delivery,&#8221; and words of like import in or relating to this Twelfth Amendment and&#47;or any document to be signed in connection with this Twelfth Amendment and the transactions contemplated hereby shall be deemed to include Electronic Signatures (as defined below), deliveries or the keeping of records in electronic form, each of which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">same</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">legal</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">effect,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">validity</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">enforceability</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">manually</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">executed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">signature, physical delivery thereof or the use of a paper-based recordkeeping system, as the case may be. &#8220;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Electronic Signatures</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">&#8221; means any electronic symbol or process attached to, or associated with, any</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">contract</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">record</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">adopted</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">person</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">with</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">intent</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">sign,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">authenticate</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">accept such contract or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:13.30pt"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.30pt">record.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 7. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Governing Law and Waiver of Right to Trial by Jury</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">This Twelfth Amendment shall be governed by, and construed and interpreted in accordance with, the law of the State of New York. Sections 9.10 and 9.11 of the Existing Credit Agreement are incorporated herein by reference </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">mutatis mutandis.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 8. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Headings</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">The</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">headings</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">this</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Twelfth</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">are</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">purposes</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">reference</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">only</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">not limit or otherwise affect the meaning</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">hereof.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 9. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Reaffirmation&#59; No Novation</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Each Loan Party hereby expressly acknowledges the terms of this Twelfth Amendment and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such covenants and agreements as in effect immediately after giving effect to this Twelfth Amendment and the transactions contemplated hereby and (ii) its guarantee of the Obligations under the Guarantee, as applicable, and its grant of Liens on the Collateral to secure the Obligations pursuant to the Collateral Documents, with all such Liens continuing in full force and effect after giving effect to this Twelfth Amendment.</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Each of the Loan Parties confirms, acknowledges and agrees that the Term B-7 Lenders are</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8220;Lenders&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.07em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8220;Secured</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Parties&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">purposes</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">under</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.079em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.075em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Documents.</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">For</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">avoidance of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">doubt,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Party</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">hereby</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">agrees</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">that</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.054em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">references</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">to</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8220;Obligations&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">include</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Term B-7 Loans. All obligations of the Borrower under the Existing Credit Agreement shall remain obligations of the Borrower under the Amended Credit Agreement. Each of the parties hereto confirms that the amendment of the Existing Credit Agreement pursuant to this Twelfth Amendment shall not constitute a novation of the Existing Credit Agreement or any other Loan Document. For the avoidance of doubt, this Twelfth Amendment shall also constitute a Loan Document for all purposes under the Amended Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agreement.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:3.95pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 10. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Tax Matters</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">. The parties hereto intend that the Term B-7 Loans, including the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Replacement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loans</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Incremental</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loans,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">treated</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">one</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">fungible tranche for U.S. federal and applicable state and local income tax</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">purposes.</font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">7</font></div></td></tr></table></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-top:0.5pt"><font><br></font></div><div style="padding-left:42pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 11. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Effect of Amendment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">(a)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:22.7pt">Except as expressly set forth herein, this Twelfth Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Administrative</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agent,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Lenders</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Secured</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Parties</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">under</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Existing Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">any</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">terms,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">conditions,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">obligations,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">covenants</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">or</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">agreements</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.004em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">contained</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Existing Credit Agreement or any other provision of the Existing Credit Agreement or any other Loan Document,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">which</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">are</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">ratified</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.016em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">affirmed</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">respects</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">shall</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">continue</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">full</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">force</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and effect.</font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="margin-top:4.5pt;text-align:justify;text-indent:36pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">(b)</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;padding-left:22.02pt">(i) Each Person executing this Twelfth Amendment in its capacity as an Additional Replacement Term B-7 Lender or Incremental Term B-7 Lender or delivering a Consent to Twelfth Amendment as a Converting Term Lender shall be a &#8220;Lender&#8221; and a &#8220;Term Lender&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.066em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">under</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.062em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">purposes</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agreement and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Documents</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">shall,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">in</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">each</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">case,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">be</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">bound</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">by</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">provisions</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.037em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.041em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Amended Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.054em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">a</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">holding</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.054em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8220;Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Commitments&#8221;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8220;Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.058em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loans&#8221;,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.05em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">as</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.054em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">applicable, (ii) the Replacement Term B-7 Loan Commitments shall constitute &#8220;Term Commitments&#8221; and &#8220;Additional Term Loan Commitments&#8221;, and the Replacement Term B-7 Loans shall constitute &#8220;Replacement Term Loans&#8221;, &#8220;Additional Term Loans&#8221;, &#8220;Term B-7 Loans&#8221; and &#8220;Term Loans&#8221;,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.137em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">as applicable,</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">for</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">all</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">purposes</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">of</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Amended</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Credit</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Agreement</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.02em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">the</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.033em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">other</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.029em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Documents</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.025em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">and (iii) the Incremental Term B-7 Loan Commitments shall constitute &#8220;Term Commitments&#8221; and &#8220;Additional Term Loan Commitments&#8221;, and the Incremental Term B-7 Loans shall constitute &#8220;Incremental Term Loans&#8221;, &#8220;Additional Term Loans&#8221;, &#8220;Term B-7 Loans&#8221; and &#8220;Term Loans&#8221;, as applicable, for all purposes of the Amended Credit Agreement and the other Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.145em;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">Documents.</font></div><div style="margin-top:4.5pt;padding-left:36pt;text-align:justify"><font><br></font></div><div style="margin-top:3.95pt;padding-left:6pt;text-align:justify"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">SECTION 12. </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Miscellaneous</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">.  Notwithstanding any other provision of this Twelfth Amendment, the Amended Credit Agreement or any other Loan Document, each Twelfth Amendment Arranger is named as such herein for recognition purposes only, and in its capacity as such shall have no duties, responsibilities or liabilities with respect to this Twelfth Amendment. Without limitation of the foregoing, the Twelfth Amendment Arrangers in their respective capacities as such shall not, by reason of this Twelfth Amendment, the Amended Credit Agreement or any other Loan Document, have any fiduciary relationship in respect of any Lender, any Loan Party or any other Person.</font></div><div style="margin-top:0.5pt"><font><br></font></div><div style="text-align:center"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%">&#91;Signature Pages Follow&#93;</font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:2.480%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:9.6pt;padding-left:3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">8</font></div></td></tr></table></div></div></div><div id="i85638e1c04c844879c420e1234263adb_45"></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div style="margin-top:7.45pt;padding-left:26.65pt;text-indent:34.9pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">IN WITNESS WHEREOF, the parties hereto have caused this Twelfth Amendment to be duly executed as of the date first above written.</font></div><div><font><br></font></div><div><font><br></font></div><div 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Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:120%;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Lender</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Additional Replacement Term</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Incremental Term B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:0.05em;line-height:120%;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Loan</font></div><div style="padding-left:183pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">B-7</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.012em;line-height:120%;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Loan</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;letter-spacing:-0.008em;line-height:120%;text-decoration:underline"> </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Commitment</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">Commitment</font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="margin-top:4.5pt;padding-left:30pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">JPMorgan Chase Bank, N.A.&#160;&#160;&#160;&#160;$45,658,853.73&#160;&#160;&#160;&#160;$50,000,000.00</font></div><div style="padding-left:30pt;padding-right:5.3pt"><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:119%">&#160;&#160;&#160;&#160; </font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:119%;text-decoration:underline"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:119%"> Total&#160;&#160;&#160;&#160;</font><font style="color:#231f20;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:119%;text-decoration:underline"> $45,658,853.73&#160;&#160;&#160;&#160;$50,000,000.00&#160;&#160;&#160;&#160;</font></div><div><font><br></font></div><div><font><br></font></div><div style="height:13.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:88.56pt;width:100%"><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibit A</font></div><div style="margin-bottom:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">CONSENT TO TWELFTH AMENDMENT</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Reference is made to the Twelfth Amendment to Term Loan Credit Agreement (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Eleventh Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), among Blackstone Mortgage Trust, Inc., a Maryland corporation (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Borrower</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the Subsidiary Guarantors party thereto, each Additional Term B-7 Lender party thereto, each Incremental Term B-7 Lender party thereto and JPMorgan Chase Bank, N.A., in its capacities as administrative agent and collateral agent (in such capacities and together with its successors and permitted assigns, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Administrative Agent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), which Twelfth Amendment amends and supplements that certain Credit Agreement, dated as of April 23, 2019 (as amended, restated, supplemented or otherwise modified from time to time prior to, but not including, the Eleventh Amendment, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Existing Credit Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), among the Borrower, the Lenders party thereto from time to time and the Administrative Agent.  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Twelfth Amendment.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The undersigned Lender hereby irrevocably and unconditionally (a) approves, agrees and consents to the Twelfth Amendment, (b) consents and agrees that 100% of the outstanding principal amount of the Term B-4 Loans held by such Lender (or such lesser amount allocated to such Lender by the Twelfth Amendment Arrangers) shall be converted on a cashless basis into Term B-7 Loans of the same principal amount on the Twelfth Amendment Effective Date pursuant to the Twelfth Amendment and (c) consents and agrees that such Lender shall constitute a Converting Term Lender and a Term B-7 Lender.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Please note that the Twelfth Amendment Arrangers may, in their sole discretion, elect to convert less than 100% of your existing hold of Term B-4 Loans into Term B-7 Loans, in which case the difference between the current amount of your Term B-4 Loans and the allocated amount of Term B-7 Loans will be prepaid on the Twelfth Amendment Effective Date. </font></div><div><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">IN WITNESS WHEREOF, the undersigned, in its capacity as a Lender, has caused this Consent to Twelfth Amendment to be executed and delivered by a duly authorized officer as of the date of the Twelfth Amendment.  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">This counterpart also constitutes such Lender&#8217;s executed counterpart to the Eleventh Amendment in its capacity as a Converting Term Lender and Term B-7 Lender.</font></div><div style="margin-bottom:6pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Name of Lender (Legal Entity)&#58; ___________________________,</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">in its capacity as a Converting Term Lender and a Term B-7 Lender</font></div><div style="margin-top:22pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Signed&#58; ___________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Name&#58;&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Title&#58;</font></div><div style="margin-top:22pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">for Lenders requiring a second signature block</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)</font></div><div style="margin-top:22pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Signed&#58; ___________________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Name&#58;&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Title&#58;</font></div><div style="height:13.68pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i85638e1c04c844879c420e1234263adb_54"></div><hr style="page-break-after:always"><div style="min-height:171pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">Conformed as of </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%;text-decoration:line-through">Eleventh</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%;text-decoration:underline">Twelfth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%"> Amendment</font></div><div style="text-align:right"><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Deal CUSIP&#58; 09259GAA1</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> 2019 New Term Loan CUSIP&#58; 09259GAC7</font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Term B-3 Loan CUSIP&#58; 09259GAE9</font></div><div style="text-align:right;text-indent:36pt"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">Term B-4 Loan CUSIP&#58; 09259GAF0</font></div><div style="text-align:right;text-indent:36pt"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">Term B-5 Loan CUSIP&#58;  09259GAG8 </font></div><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Term B-6 Loan CUSIP&#58;  09259GAH6</font></div><div style="text-align:right"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Term B-7 Loan CUSIP&#58; 09259GAJ2</font></div><div style="text-align:right"><font><br></font></div></div><div style="text-align:right"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">TERM LOAN CREDIT AGREEMENT</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Dated as of April 23, 2019</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(as amended by the First Amendment on November 19, 2019, the Second Amendment on May 20, 2020, the Third Amendment on June 11, 2020, the Fourth Amendment on February 19, 2021, the Fifth Amendment on June 21, 2021, the Sixth Amendment on May 9, 2022, the Seventh Amendment on November 4, 2022, the Eighth Amendment on June 7, 2023, the Ninth Amendment on September 13, 2024, the Tenth Amendment on December 10, 2024</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> the Eleventh Amendment on June 18, 2025</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"> and the Twelfth Amendment on August 6, 2025</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">among</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">   </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">BLACKSTONE MORTGAGE TRUST, INC., <br>as the Borrower,</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">THE FINANCIAL INSTITUTIONS PARTY HERETO,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Lenders,&#160;&#160;&#160;&#160;</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">JPMORGAN CHASE BANK, N.A.,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Administrative Agent,</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">MORGAN STANLEY SENIOR FUNDING, INC., and</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">JPMORGAN CHASE BANK, N.A., </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Joint Lead Arrangers and Joint Physical Bookrunners</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">CITIGROUP GLOBAL MARKETS INC., </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">M&#38;T BANK,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> WELLS FARGO SECURITIES, LLC,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> BARCLAYS BANK PLC,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> BOFA SECURITIES, INC.,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> DEUTSCHE BANK SECURITIES INC.,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> GOLDMAN SACHS BANK USA </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">BANCO SANTANDER, S.A., NEW YORK BRANCH,</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Joint Bookrunners</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:12pt"><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:171pt;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">BLACKSTONE SECURITIES PARTNERS L.P., as co-manager</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td></tr></table></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="i85638e1c04c844879c420e1234263adb_57"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Page </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">                                                                 </font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">   TABLE OF CONTENTS       </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 1<br><br>DEFINITIONS</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Defined Terms</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">2</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">3</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Classification of Loans and Borrowings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">70</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">67</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Terms Generally</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">70</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">68</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Accounting Terms&#59; GAAP</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">71</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">68</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">72</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">69</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Timing of Payment of Performance</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">72</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">69</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Times of Day</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">72</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">69</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Currency Equivalents Generally</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">72</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">69</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Cashless Rollovers</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">73</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">70</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Certain Calculations and Tests</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">74</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">71</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 1.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Interest Rates&#59; Benchmark Notification</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">78</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">74</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 2<br><br>THE CREDITS</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Commitments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">78</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">75</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Loans and Borrowings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">80</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">77</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Requests for Borrowings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">81</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">78</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">82</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">78</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">82</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">79</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">82</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">79</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Funding of Borrowings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">82</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">79</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Type&#59; Interest Elections</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">82</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">79</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Termination of Commitments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">83</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">80</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Repayment of Loans&#59; Evidence of Debt</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">84</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">81</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Prepayment of Loans</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">86</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">82</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.12.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Fees</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">90</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">87</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.13.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">91</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">88</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.14.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Alternate Rate of Interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">92</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">88</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.15.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Increased Costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">95</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">81</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.16.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Break Funding Payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">96</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">92</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.17.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">97</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">93</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.18.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Payments Generally&#59; Allocation of Proceeds&#59; Sharing of Payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">101</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">96</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.19.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Mitigation Obligations&#59; Replacement of Lenders</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">103</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">98</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.20.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Illegality</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">104</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">99</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.21.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Defaulting Lenders</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">104</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">100</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.22.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Incremental Facilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">106</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">101</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 2.23.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Extensions of Loans</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">109</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">105</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 3<br><br>REPRESENTATIONS AND WARRANTIES</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Organization&#59; Powers</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">112</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">107</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Authorization&#59; Enforceability</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">112</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">107</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Governmental Approvals&#59; No Conflicts</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">112</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">107</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Financial Condition&#59; No Material Adverse Effect</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">112</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">107</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Properties</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">112</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">108</font></div></td></tr></table></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-i-</font></div><div><font><br></font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Page </font></div></div><div style="padding-left:36pt;padding-right:36pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Litigation and Environmental Matters</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">113</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">108</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Compliance with Laws</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">113</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">108</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Investment Company Status</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">114</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">108</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">114</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">109</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">ERISA</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">114</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">109</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Disclosure</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">114</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">109</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.12.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Solvency</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">114</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">109</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.13.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Subsidiaries</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">115</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">109</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.14.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Security Interest in Collateral</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">115</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">110</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.15.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Labor Disputes</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">115</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">110</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.16.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Federal Reserve Regulations</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">115</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">110</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 3.17.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">OFAC&#59; PATRIOT ACT and FCPA</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">115</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">110</font></div></td></tr></table></div><div style="padding-left:76.67pt;padding-right:76.67pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 4</font></div><div style="padding-left:261.35pt;padding-right:72pt;text-indent:-81.35pt"><font><br></font></div><div style="padding-left:108pt;padding-right:108pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">CONDITIONS</font></div><div style="padding-left:36pt;padding-right:36pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 4.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Closing Date</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">116</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">111</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 5<br></font></div><div style="padding-left:36pt;padding-right:36pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">AFFIRMATIVE COVENANTS</font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Financial Statements and Other Reports</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">119</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">113</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Existence</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">122</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">116</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Payment of Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">122</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">116</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Maintenance of Properties</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">122</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">116</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Insurance</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">122</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">117</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Inspections</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">123</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">117</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Maintenance of Book and Records</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">123</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">118</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Compliance with Laws</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">123</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">118</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Environmental</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">124</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">118</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Designation of Subsidiaries</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">124</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">118</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Use of Proceeds</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">125</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">119</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.12.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Covenant to Guarantee Obligations and Give Security</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">126</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">120</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.13.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Maintenance of Ratings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">127</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">121</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 5.14.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Further Assurances</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">127</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">121</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 6</font></div><div style="padding-left:144pt;padding-right:72pt"><font><br></font></div><div style="padding-left:108pt;padding-right:108pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> NEGATIVE COVENANTS</font></div><div style="padding-right:72pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:13.002%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:63.803%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.895%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Indebtedness</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">128</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">122</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Liens</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">134</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">127</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">139</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">132</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Restricted Payments&#59; Restricted Debt Payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">139</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">132</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Burdensome Agreements</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">142</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">135</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Investments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">144</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">137</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Fundamental Changes&#59; Disposition of Assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">147</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">140</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">151</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">144</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Transactions with Affiliates</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">151</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">144</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Conduct of Business</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">154</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">146</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#91;Reserved&#93;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">154</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">146</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.12.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Fiscal Year</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">154</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">146</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 6.13.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Financial Covenant</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">154</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">146</font></div></td></tr></table></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-ii-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Page </font></div></div><div style="padding-left:36pt;padding-right:36pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 7</font></div><div style="padding-left:180pt;padding-right:72pt"><font><br></font></div><div style="padding-left:126pt;padding-right:126pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">EVENTS OF DEFAULT</font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 7.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Events of Default</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">155</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">148</font></div></td></tr></table><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 8<br><br>THE ADMINISTRATIVE AGENT</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ARTICLE 9<br><br>MISCELLANEOUS</font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.878%"><tr><td style="width:1.0%"></td><td style="width:13.162%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:64.540%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.998%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.01.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Notices</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">167</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">158</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.02.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Waivers&#59; Amendments</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">170</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">161</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.03.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Expenses&#59; Indemnity</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">175</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">166</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.04.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Waiver of Claim</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">176</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">167</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.05.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Successors and Assigns</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">177</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">168</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.06.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Survival</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">186</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">176</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.07.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Counterparts&#59; Integration&#59; Effectiveness</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">186</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">176</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.08.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Severability</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">186</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">177</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.09.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Right of Setoff</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">186</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">177</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.10.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Governing Law&#59; Jurisdiction&#59; Consent to Service of Process</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">187</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">177</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.11.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Waiver of Jury Trial</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">188</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">178</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.12.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Headings</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">188</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">178</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.13.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Confidentiality</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">188</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">178</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.14.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">No Fiduciary Duty</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">190</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">180</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.15.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Several Obligations</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.16.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">USA PATRIOT Act</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.17.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Disclosure of Agent Conflicts</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.18.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Appointment for Perfection</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.19.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Interest Rate Limitation</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.20.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Conflicts</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">191</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">181</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.21.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Release of Guarantors</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">192</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">182</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.22.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Acknowledgment and Consent to Bail-In of EEA Financial Institutions</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:right"><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:line-through">192</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:107%;text-decoration:underline">182</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Section 9.23.</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Acknowledgement Regarding Any Supported QFCs</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Schedule 1.01(b)&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Dutch Auction </font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Schedule&#160;1.01(c)&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Mortgages</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Schedule 3.05&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Fee Owned Real Estate Assets</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Schedule&#160;3.13&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Subsidiaries</font></div><div 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Schedule&#160;6.06&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Existing Investments</font></div><div style="padding-left:0.5pt"><font><br></font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">EXHIBITS&#58;</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit&#160;A-1&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Affiliated Lender Assignment and Assumption</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit&#160;A-2&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Assignment and Assumption</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit&#160;B&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Borrowing Request</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit&#160;C-1&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Intellectual Property Security Agreement</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-iii-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit C-2&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Intellectual Property Security Agreement Supplement</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit&#160;D&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Compliance Certificate</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit E&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of First Lien Intercreditor Agreement </font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit F&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Intercompany Note</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit G&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Intercreditor Agreement</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit H&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Interest Election Request</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit I&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Guaranty Agreement</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit J&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Perfection Certificate</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit K&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Perfection Certificate Supplement</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit L&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Promissory Note</font></div><div style="padding-left:0.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit M&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of Pledge and Security Agreement</font></div><div style="padding-left:130.5pt;text-indent:-94pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit N-1&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes)</font></div><div style="padding-left:130.5pt;text-indent:-94pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit N-2&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes)</font></div><div style="padding-left:130.5pt;text-indent:-94pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit N-3&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of U.S. Tax Compliance Certificate (For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes)</font></div><div style="padding-left:130.5pt;text-indent:-94pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit N-4&#160;&#160;&#160;&#160;&#8211;&#160;&#160;&#160;&#160;Form of U.S. Tax Compliance Certificate (For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes)</font></div><div style="padding-left:130.5pt;text-indent:-94pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit O       &#8211;         Form of Solvency Certificate</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-iv-</font></div><div><font><br></font></div></div></div><div id="i85638e1c04c844879c420e1234263adb_63"></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div style="margin-bottom:12pt;text-indent:36pt"><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%">TERM LOAN CREDIT AGREEMENT</font></div><div style="margin-top:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">TERM LOAN CREDIT AGREEMENT, dated as of April 23, 2019 (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), by and among Blackstone Mortgage Trust, Inc., a Maryland corporation (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Borrower</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the Lenders from time to time party hereto and JPMorgan Chase Bank, N.A. (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">JPMCB</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), in its capacities as administrative agent for the Lenders and collateral agent for the Secured Parties (in such capacities and together with its successors and assigns, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Administrative Agent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;).<br> </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">RECITALS</font></div><div style="margin-top:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">A.&#160;&#160;&#160;&#160;On the Closing Date, the Borrower requested that the Initial Term Lenders extend credit in the form of Initial Term Loans in an aggregate principal amount equal to $500,000,000.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">B.&#160;&#160;&#160;&#160;The Lenders were willing to extend such credit to the Borrower on the terms and subject to the conditions set forth herein.   </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">C.&#160;&#160;&#160;&#160;The 2019 Replacement Term Lenders (as defined below) were willing to extend to the Borrower the 2019 Replacement Term Loans (as defined below) on the First Amendment Effective Date in an aggregate principal amount equal to $498,750,000 upon the terms and subject to the conditions set forth in the First Amendment (as defined below).  The proceeds of the 2019 Replacement Term Loans were used on the First Amendment Effective Date to refinance all of the Initial Term Loans outstanding on the First Amendment Effective Date.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">D.&#160;&#160;&#160;&#160;The 2019 Incremental Term Lenders (as defined below) were willing to extend to the Borrower the 2019 Incremental Term Loans (as defined below) on the First Amendment Effective Date in an aggregate principal amount equal to $250,000,000 upon the terms and subject to the conditions set forth in the First Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">E.&#160;&#160;&#160;&#160;The Initial Term B-2 Lenders (as defined below) were willing to extend to the Borrower the Initial Term B-2 Loans (as defined below) on the Second Amendment Effective Date in an aggregate principal amount equal to $250,000,000 upon the terms and subject to the conditions set forth in the Second Amendment. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">F.&#160;&#160;&#160;&#160;The Additional Term B-2 Lenders (as defined below) were willing to extend to the Borrower the Additional Term B-2 Loans (as defined below) on the Third Amendment Effective Date in an aggregate principal amount equal to $75,000,000 upon the terms and subject to the conditions set forth in the Third Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">G. &#160;&#160;&#160;&#160;The Additional 2019 Incremental Term Lenders (as defined below) were willing to extend to the Borrower the Additional 2019 New Term Loans (as defined below) on the Fourth Amendment Effective Date in an aggregate principal amount equal to $200,000,000 upon the terms and subject to the conditions set forth in the Fourth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">H.&#160;&#160;&#160;&#160;The Replacement Term B-3 Lenders (as defined below) were willing to extend to the Borrower the Replacement Term B-3 Loans (as defined below) on the Fifth Amendment Effective Date (as defined below) in an aggregate principal amount equal to $322,562,500 upon the terms and subject to the conditions set forth in the Fifth Amendment (as defined below). The proceeds of the Replacement Term B-3 Loans were used on the Fifth Amendment Effective Date to refinance all of the Term B-2 Loans outstanding on the Fifth Amendment Effective Date.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-1-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">I.&#160;&#160;&#160;&#160;The Incremental Term B-3 Lenders (as defined below) were willing to extend to the Borrower the Incremental Term B-3 Loans (as defined below) on the Fifth Amendment Effective Date in an aggregate principal amount equal to $100,000,000 upon the terms and subject to the conditions set forth in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">J.&#160;&#160;&#160;&#160;The Term B-4 Lenders (as defined below) were willing to extend to the Borrower the Initial Term B-4 Loans (as defined below) on the Sixth Amendment Effective Date (as defined below) in an aggregate principal amount equal to $500,000,000 upon the terms and subject to the conditions set forth in the Sixth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">K.&#160;&#160;&#160;&#160;The Incremental Term B-4 Lenders (as defined below) were willing to extend to the Borrower the Incremental Term B-4 Loans (as defined below) on the Seventh Amendment Effective Date in an aggregate principal amount equal to $325,000,000 upon the terms and subject to the conditions set forth in the Seventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">L.&#160;&#160;&#160;&#160;The Term B-5 Lenders (as defined below) were willing to extend to the Borrower the Term B-5 Loans (as defined below) on the Tenth Amendment Effective Date (as defined below) in an aggregate principal amount equal to $650,000,000 upon the terms and subject to the conditions set forth in the Tenth Amendment (as defined below). </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">M.&#160;&#160;&#160;&#160;The Replacement Term B-6 Lenders (as defined below) were willing to extend to the Borrower the Replacement Term B-6 Loans (as defined below) on the Eleventh Amendment Effective Date (as defined below) in an aggregate principal amount equal to $648,375,000.00 upon the terms and subject to the conditions set forth in the Eleventh Amendment (as defined below).  The proceeds of the Replacement Term B-6 Loans were used on the Eleventh Amendment Effective Date to refinance all of the Term B-5 Loans outstanding on the Eleventh Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">N.&#160;&#160;&#160;&#160;The Incremental Term B-6 Lenders (as defined below) are willing to extend to the Borrower the Incremental Term B-6 Loans (as defined below) on the Eleventh Amendment Effective Date in an aggregate principal amount equal to $400,000,000 upon the terms and subject to the conditions set forth in the Eleventh Amendment.  The proceeds of the Incremental Term B-6 Loans were used on the Eleventh Amendment Effective Date to prepay a portion of the outstanding principal amount of the Term B-4 Loans on the Eleventh Amendment Effective Date.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">O.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#160;&#160;&#160;&#160;</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">The Replacement Term B-7 Lenders (as defined below) were willing to extend to the Borrower the Replacement Term B-7 Loans (as defined below) on the Twelfth Amendment Effective Date (as defined below) in an aggregate principal amount equal to $403,104,636.60 upon the terms and subject to the conditions set forth in the Twelfth Amendment (as defined below).  The proceeds of the Replacement Term B-7 Loans were used on the Twelfth Amendment Effective Date to refinance all of the Term B-4 Loans outstanding on the Twelfth Amendment Effective Date</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:12.90pt;text-decoration:underline">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">P.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#160;&#160;&#160;&#160;</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">The Incremental Term B-7 Lenders (as defined below) are willing to extend to the Borrower the Incremental Term B-7 Loans (as defined below) on the Twelfth Amendment Effective Date in an aggregate principal amount equal to $50,000,000.00 upon the terms and subject to the conditions set forth in the Twelfth Amendment. The proceeds of the Incremental Term B-7 Loans will be used and after the Twelfth Amendment Effective Date to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Twelfth Amendment Transactions (as defined in the Twelfth Amendment).</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-2-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Accordingly, the parties hereto agree as follows&#58; <br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:100%">ARTICLE 1</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"><br><br>DEFINITIONS</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">Section 1.01. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Defined Term</font><font style="color:#000000;font-family:'Cambria',sans-serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">s</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">.  As used in this Agreement, the following terms have the meanings specified below&#58;</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Incremental Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Incremental Term Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Incremental Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 New Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means the 2019 Replacement Term Loans, the 2019 Incremental Term Loans and, from and after the Fourth Amendment Effective Date, the Additional 2019 New Term Loans&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> that, for the avoidance of doubt, the 2019 Replacement Term Loans, the 2019 Incremental Term Loans and the Additional 2019 New Term Loans shall be treated as a single Class of 2019 New Term Loans under this Agreement and the other Loan Documents. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Replacement Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Replacement Term Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">2019 Replacement Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the First Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">ABR</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">,&#8221; when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Alternate Base Rate.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Acceptable Intercreditor Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means&#58;</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(a) &#160;&#160;&#160;&#160;with respect to any Indebtedness that is secured by the Collateral on a </font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:14.20pt">pari passu</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> lien basis with the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">-6</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> Loans and the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">-7</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> Loans, an intercreditor agreement substantially in the form of </font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Exhibit E</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, with any immaterial changes (as are reasonably acceptable to the Administrative Agent and the Borrower) thereto as the Borrower and the Administrative Agent may agree in their respective reasonable discretion&#59; </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(b) &#160;&#160;&#160;&#160;with</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> respect to any Indebtedness that is secured by the Collateral on a junior lien basis to the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">-6</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> Loans and the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">-7</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> Loans, an intercreditor agreement substantially in the form of </font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Exhibit G</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, with any immaterial changes (as are reasonably acceptable to the Administrative Agent and the Borrower) thereto as the Borrower and the Administrative Agent may agree in their respective reasonable discretion&#59; or</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-3-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">(c) &#160;&#160;&#160;&#160;with respect to any Indebtedness (including Indebtedness secured on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.10pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> or junior basis to the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> Loans and the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> Loans), any other intercreditor or subordination agreement or arrangement (which may take the form of a &#8220;waterfall&#8221; or similar provision), as applicable, the terms of which are (i) consistent with market terms (as determined by the Borrower and the Administrative Agent in good faith) governing arrangements for the sharing and&#47;or subordination of Liens and&#47;or arrangements relating to the distribution of payments, as applicable, at the time the relevant intercreditor agreement is proposed to be established in light of the type of Indebtedness subject thereto and&#47;or (ii) reasonably acceptable to the Borrower and the Administrative Agent. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">ACH</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means automated clearing house arrangements.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional 2019 Incremental Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Fourth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional 2019 Incremental Term Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Fourth Amendment. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional 2019 New Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Fourth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means any commitment hereunder added pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Sections&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Section 2.22(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term B-2 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Third Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term B-2 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Third Amendment. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term B-2 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; has the meaning assigned to such term in the Third Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means any Lender with an Additional Term Loan Commitment or an outstanding Additional Term Loan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means any term commitment added pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Sections&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Additional Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means any term loan added pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">Adjusted Daily Simple SOFR</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221; means, for any day (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">SOFR Rate Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt">&#8221;), a rate per annum equal to Daily Simple SOFR for such day plus 0.11448%&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.10pt"> that, in no event shall Adjusted Daily Simple SOFR for the Term B-3 Loans be less than the Floor. Any change in Adjusted Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Adjusted Term SOFR Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5&#58;00 a.m., </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-4-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.30pt">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt"> the Term SOFR Adjustment&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt"> that, in no event shall the Adjusted Term SOFR Rate for the Term B-3 Loans be less than the Floor.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Administrative Agent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in the preamble to this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Administrative Questionnaire</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 2.22(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Adverse Proceeding</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any action, suit, proceeding (whether administrative, judicial or otherwise), governmental investigation or arbitration (whether or not purportedly on behalf of the Borrower or any of its Restricted Subsidiaries) at law, in equity or in arbitration, or before or by any Governmental Authority, domestic or foreign (including any Environmental Claim), whether pending or, to the knowledge of a Responsible Officer of the Borrower or any of its Restricted Subsidiaries, threatened in writing, against or affecting the Borrower or any of its Restricted Subsidiaries or any property of the Borrower or any of its Restricted Subsidiaries.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Affiliate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, as applied to any Person, any other Person directly or indirectly Controlling, Controlled by, or under common Control with, that Person. 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means the Sponsor and any Affiliate of the Sponsor (other than any Debt Fund Affiliate, the Borrower or any of its Subsidiaries). </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Affiliated Lender Assignment and Assumption</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means an assignment and assumption entered into by a Lender and an Affiliated Lender (with the consent of any party whose consent is required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">) and accepted by the Administrative Agent in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit&#160;A-1</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> or any other form approved by the Administrative Agent and the Borrower.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Affiliated Lender Cap</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.05(g)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in the preamble to this Term Loan Credit Agreement.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Alternate Base Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(i)&#160;&#160;&#160;&#160;with respect to the 2019 New Term Loans and the Term B-3 Loans, for any day, a rate per annum equal to the highest of (a)&#160;the NYFRB Rate in effect on such day </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> 0.50%, (b) the Adjusted Term SOFR Rate for a one month Interest Period as published two U.S. Government Securities Business Days prior to such day (or if such day is not a Business Day, the immediately preceding Business Day) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> 1.00%&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> that for the purpose of this definition, the Adjusted Term SOFR Rate for any day shall be based on the Term SOFR Reference Rate at approximately 5&#58;00 a.m. Chicago time on such day (or any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-5-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">amended publication time for the Term SOFR Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR Reference Rate methodology), or (c)&#160;the Prime Rate&#59; and</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;with respect to the </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">Term B-4 Loans, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans and the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans, for any day, a rate per annum equal to the highest of (a)&#160;the NYFRB Rate in effect on such day </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> 0.50%, (b) the Term SOFR Rate for a one month Interest Period as published two U.S. Government Securities Business Days prior to such day (or if such day is not a Business Day, the immediately preceding Business Day) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> 1.00%&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that for the purpose of this definition, the Term SOFR Rate for any day shall be based on the Term SOFR Reference Rate at approximately 5&#58;00 a.m. Chicago time on such day (or any amended publication time for the Term SOFR Reference Rate, as specified by the CME Term SOFR Administrator in the Term SOFR Reference Rate methodology), or (c)&#160;the Prime Rate&#59;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that in no event shall the Alternate Base Rate be less than 1.00% or, in the case of the Term B-2 Loans, less than 2.00%, or, in the case of the Term B-3 Loans, less than 1.50%, or, in the case of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans or Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans, less than the sum of (x) the Floor for the Term SOFR Rate or Daily Simple SOFR, as applicable, and (y) 1.00%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the NYFRB Rate, the Term SOFR Rate or the Adjusted Term SOFR Rate, as the case may be, shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate, the Term SOFR Rate or the Adjusted Term SOFR Rate, as the case may be. If the Alternate Base Rate is being used as an alternate rate of interest pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> &#8211; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (for the avoidance of doubt, only until the Benchmark Replacement has been determined pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), then the Alternate Base Rate shall be the greater of clauses (ii)(a) and (ii)(c) above and shall be determined without reference to clause (ii)(b) above.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Applicable Percentage</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, with respect to any Term Lender of any Class, a percentage equal to a fraction the numerator of which is the aggregate outstanding principal amount of the Term Loans and unused Term Commitments (if any) of such Term Lender under the applicable Class and the denominator of which is the aggregate outstanding principal amount of the Term Loans and unused Term Commitments (if any) of all Term Lenders under the applicable Class.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Applicable Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means (a) with respect to any 2019 New Term Loans, for any day, the rate per annum equal to (i) 1.25% in the case of an ABR Loan and (ii) 2.25% in the case of a Term Benchmark Loan or an RFR Loan, (b) with respect to any Term B-3 Loans, for any day, the rate per annum equal to (i) 1.75% in the case of an ABR Loan and (ii) 2.75% in the case of a Term Benchmark Loan or an RFR Loan, (c) </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">with respect to any Term B-4 Loans, for any day, the rate per annum equal to (i) 2.50% in the case of an ABR Loan and (ii) 3.50% in the case of a Term Benchmark Loan or an RFR Loan, (d) with respect to any Term B-5 Loans, for any day, the rate per annum equal to (i) 2.75% in the case of an ABR Loan and (ii) 3.75% in the case of a Term Benchmark Loan or an RFR Loan and (</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;reserved&#93;, (d) &#91;reserved&#93;, (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">e) with respect to any Term B-6 Loans, for any day, the rate per annum equal to (i) 2.00% in the case of an ABR Loan and (ii) 3.00% in the case of a Term Benchmark Loan or an RFR Loan</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"> and (f) with respect to any Term B-7 Loans, for any day, the rate per annum equal to (i) 1.50% in the case of an ABR Loan and (ii) 2.50% in the case of a Term Benchmark Loan or an RFR Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Approved Fund</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, with respect to any Lender, any Person (other than a natural person) that is engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities and is administered, advised or managed by (a) such Lender, (b) any Affiliate of such Lender or (c) any entity or any Affiliate of any entity that administers, advises or manages such Lender.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-6-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Arrangers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated, Barclays Bank PLC, Deutsche Bank Securities Inc. and Blackstone Advisory Partners LP, in their capacities as joint lead arrangers and joint bookrunners for the Initial Term Loans.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Asset Financing Facility</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means any indebtedness or obligations under securitization transactions, repurchase facilities, warehouse facilities, note-on-note financings, other credit facilities and arrangements similar to any of the foregoing and any other indebtedness or obligations, in each case, secured directly or indirectly by, and incurred for the primary purpose of directly or indirectly funding the origination or acquisition of, or any Investment in, or otherwise financing, refinancing or capitalizing any previous origination or acquisition of, or Investment in, any CRE Finance Assets. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Assignment and Assumption</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means an assignment and assumption entered into by a Lender and an assignee (with the consent of any party whose consent is required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), and accepted by the Administrative Agent in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibit&#160;A-2</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or any other form approved by the Administrative Agent and the Borrower (including electronic records generated by the use of an electronic platform). </font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Available Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, at any time, an amount equal to, without duplication&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;the sum of&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;the greater of $50,000,000 and 0.35% of Consolidated Total Assets as of the end of the most recently ended Test Period&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;(x) 50.0% of the cumulative Consolidated Net Income of the Borrower and the Restricted Subsidiaries for the period, taken as one accounting period, commencing on April 1, 2019 and ending on the last day of the most recently ended Fiscal Quarter prior to incurring the applicable transaction in reliance on this clause (ii) for which internal financial statements of the Borrower are available (or, if such cumulative Consolidated Net Income shall be a deficit, minus 100% of such deficit for any applicable period) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (y) the amount of Restricted Payments made in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that amounts under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (A) shall in no event be less than $0 and (B) shall not be available for (x)&#160;any Restricted Payment pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)(iii)(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> unless no Event of Default exists at the time of declaration of such Restricted Payment or would result therefrom, (y)&#160;any Restricted Debt Payment pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(b)(vi)(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> unless no Event of Default exists at the time of delivery of irrevocable notice with respect to such Restricted Debt Payment or would result therefrom or (z)&#160;any Investment pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.06(r)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> unless no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> exists at the time of such Investment or would result therefrom)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus </font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(iii)&#160;&#160;&#160;&#160;the amount of any capital contribution in respect of Qualified Capital Stock of or the proceeds of any issuance of Qualified Capital Stock after the Closing Date (other than any amounts (x)&#160;constituting a Cure Amount, an Available Excluded Contribution Amount or a Contribution Indebtedness Amount, (y)&#160;received from the Borrower or any Restricted Subsidiary or (z) consisting of the proceeds of any loan or advance made pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 6.06(h)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">) received as Cash equity by the Borrower or any of its Restricted Subsidiaries, plus the fair market value (or, solely with respect to the Indebtedness of the Borrower or any Restricted Subsidiary, the aggregate original principal amount thereof), as reasonably determined by the Borrower, of Cash Equivalents, marketable securities or other property or assets received by the Borrower or any Restricted Subsidiary as a capital contribution in respect of Qualified Capital Stock or in return for any issuance of Qualified Capital Stock (other than any amounts (x)&#160;constituting a Cure </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-7-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Amount, an Available Excluded Contribution Amount or a Contribution Indebtedness Amount or (y)&#160;received from the Borrower or any Restricted Subsidiary), in each case, during the period from and including the day immediately following the Closing Date through and including such time&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> that amounts received by a Restricted Subsidiary from a Person that is not the Borrower or a Restricted Subsidiary has not been distributed or otherwise returned to such Person&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">plus</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(iv)&#160;&#160;&#160;&#160;the aggregate principal amount of any Indebtedness or Disqualified Capital Stock, in each case, of the Borrower or any Restricted Subsidiary issued after the Closing Date (other than Indebtedness or such Disqualified Capital Stock issued to the Borrower or any Restricted Subsidiary), which has been converted into or exchanged for Capital Stock of the Borrower that does not constitute Disqualified Capital Stock, together with the fair market value of any Cash Equivalents and the fair market value (as reasonably determined by the Borrower) of any assets received by the Borrower or such Restricted Subsidiary upon such exchange or conversion, in each case, during the period from and including the day immediately following the Closing Date through and including such time&#59; 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</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">plus</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(vii)&#160;&#160;&#160;&#160;an amount equal to the sum of (A) the amount of any Investments by the Borrower or any Restricted Subsidiary pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 6.06(r)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> in any Unrestricted Subsidiary (in an amount not to exceed the original amount of such Investment) that has been re-designated as a Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or is liquidated, wound up or dissolved into, the Borrower or any Restricted Subsidiary and (B) the fair market value (as reasonably determined by the Borrower) of the assets of any Unrestricted Subsidiary that have been transferred, conveyed or otherwise distributed (in an amount not to exceed the original amount of the Investment in such Unrestricted Subsidiary pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 6.06(r)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">) to the Borrower or any Restricted Subsidiary, in each case, during the period from and including the day immediately following the Closing Date through and including such time&#59; 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means, as of any date of determination and with respect to the then-current Benchmark, as applicable, any tenor for such Benchmark (or component thereof) or payment period for interest calculated with reference to such Benchmark (or component thereof), as applicable, that is or may be used for determining the length of an Interest Period for any term rate or otherwise, for determining any frequency of making payments of interest calculated pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of &#8220;Interest Period&#8221; pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">Section 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">Bail-In Action</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221; means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.</font></div><div><font><br></font></div><div style="text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Bail-In Legislation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means, with respect to any EEA Member Country implementing Article 55 of Directive 2014&#47;59&#47;EU of the European Parliament and of the Council of the European Union, the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-9-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Bankruptcy Code</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means Title 11 of the United States Code (11 U.S.C. &#167; 101 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.40pt">et seq</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">.), as it has been, or may be, amended, from time to time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Base Incremental Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means (a) an amount equal to the greater of (i) $140,000,000 and (ii) 1.0% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> (b) the aggregate principal amount of all Incremental Facilities and&#47;or Incremental Equivalent Debt incurred or issued in reliance on the Base Incremental Amount after the First Amendment Effective Date, in each case, for the avoidance of doubt, determined after giving effect to any reclassification of such Incremental Facilities and&#47;or Incremental Equivalent Debt permitted under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Section 1.10(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Benchmark</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means, initially, with respect to any (i) (x) any Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">-6 Loan or Term B-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> Loan that is a Term Benchmark Loan, the Term SOFR Rate and (y) any 2019 New Term Loan or Term B-3 Loan that is a Term Benchmark Loan, the Adjusted Term SOFR Rate or (ii) (x) any Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">-6 Loan or Term B-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> Loan that is a RFR Loan, Daily Simple SOFR and (y) any 2019 New Term Loan or Term B-3 Loan that is a RFR Loan, Adjusted Daily Simple SOFR&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> that if a Benchmark Transition Event, and the related Benchmark Replacement Date have occurred with respect to the Term SOFR Rate, the Adjusted Term SOFR Rate, Daily Simple SOFR or Adjusted Daily Simple SOFR, as applicable, or the then-current Benchmark, then &#8220;Benchmark&#8221; means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Sections 2.14(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">2.14(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">.</font></div><div><font><br></font></div><div style="text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Benchmark Replacement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means, for any Available Tenor, the first alternative set forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">(1)&#160;&#160;&#160;&#160;(a) in the case of Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">-6 Loans and Term B-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> Loans, Daily Simple SOFR and (b) in the case of 2019 New Term Loans or Term B-3 Loans, Adjusted Daily Simple SOFR&#59; </font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">(2)&#160;&#160;&#160;&#160;the sum of&#58; (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for dollar-denominated syndicated credit facilities at such time in the United States and (b) the related Benchmark Replacement Adjustment&#59;</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">If the Benchmark Replacement as determined pursuant to clause (1) or (2) above would be less than the Floor, the Benchmark Replacement will be deemed to be the Floor for the purposes of this Agreement and the other Loan Documents.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Benchmark Replacement Adjustment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-10-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">Tenor for any setting of such Unadjusted Benchmark Replacement, the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date and&#47;or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Benchmark with the applicable Unadjusted Benchmark Replacement for dollar-denominated syndicated credit facilities at such time in the United States.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Benchmark Replacement Conforming Changes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of &#8220;Alternate Base Rate,&#8221; the definition of &#8220;Business Day,&#8221; the definition of &#8220;U.S. Government Securities Business Day,&#8221; the definition of &#8220;Interest Period,&#8221; timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent, in consultation with the Borrower, decides may be appropriate to reflect the adoption and implementation of such Benchmark and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark exists, in such other manner of administration as the Administrative Agent, in consultation with the Borrower, decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Benchmark Replacement Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means, with respect to any Benchmark, the earliest to occur of the following events with respect to such then-current Benchmark&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(1)&#160;&#160;&#160;&#160;in the case of clause (1) or (2) of the definition of &#8220;Benchmark Transition Event,&#8221; the later of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely ceases to provide all Available Tenors of such Benchmark (or such component thereof)&#59; or</font></div><div><font><br></font></div><div style="padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(2)&#160;&#160;&#160;&#160;in the case of clause (3) of the definition of &#8220;Benchmark Transition Event,&#8221; the first date on which such Benchmark (or the published component used in the calculation thereof) has been determined and announced by the regulatory supervisor for the administrator of such Benchmark (or such component thereof) to be no longer representative&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, that such non-representativeness will be determined by reference to the most recent statement or publication referenced in such clause (3) and even if any Available Tenor of such Benchmark (or such component thereof) continues to be provided on such date.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">For the avoidance of doubt, (i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the Reference Time for such determination and </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-11-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(ii) the &#8220;Benchmark Replacement Date&#8221; will be deemed to have occurred in the case of clause (1) or (2) with respect to any Benchmark upon the occurrence of the applicable event or events set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Benchmark Transition Event</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, with respect to any Benchmark, the occurrence of one or more of the following events with respect to such then-current Benchmark&#58;</font></div><div><font><br></font></div><div style="padding-left:22.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(1) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof)&#59;</font></div><div><font><br></font></div><div style="padding-left:22.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(2) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof), the Board, the NYFRB, the CME Term SOFR Administrator, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), in each case, which states that the administrator of such Benchmark (or such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> that, at the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof)&#59; or</font></div><div><font><br></font></div><div style="padding-left:27pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(3) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no longer, or as of a specified future date will no longer be, representative.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">For the avoidance of doubt, a &#8220;Benchmark Transition Event&#8221; will be deemed to have occurred with respect to any Benchmark if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Benchmark Unavailability Period</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, with respect to any Benchmark, the period (if any) (x) beginning at the time that a Benchmark Replacement Date pursuant to clause (1) or (2) of that definition has occurred if, at such time, no Benchmark Replacement has replaced such then-current Benchmark in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sections 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> and (y) ending at the time that a Benchmark Replacement has replaced such then-current Benchmark in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sections 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Benefit Plan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means any of (a) an &#8220;employee benefit plan&#8221; (as defined in ERISA) that is subject to Title I of ERISA, (b) a &#8220;plan&#8221; as defined in and subject to Section 4975 of the Code or (c) any Person </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-12-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such &#8220;employee benefit plan&#8221; or &#8220;plan&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">BHC Act Affiliate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; of a party means an &#8220;affiliate&#8217; (as such term is defined under, and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Board</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means the Board of Governors of the Federal Reserve System of the U.S.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Bona Fide Debt Fund</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means any bona fide debt fund, investment vehicle, regulated bank entity or unregulated lending entity that is primarily engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business for financial investment purposes which is managed, sponsored or advised by any Person controlling, controlled by or under common control with (a) any Competitor or (b) any Affiliate of such Competitor, but, in each case, with respect to which no personnel involved with any investment in such Person or the management, control or operation of such Person directly or indirectly makes, has the right to make or participates with others in making any investment decisions, or otherwise causing the direction of the investment policies, with respect to such debt fund, investment vehicle, regulated bank entity or unregulated entity&#59; it being understood and agreed that the term &#8220;Bona Fide Debt Fund&#8221; shall not include any Person that is a Disqualified Lending Institution.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Borrower</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; has the meaning assigned to such term in the preamble to this Agreement, together with any successors and assigns permitted under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Borrower Materials</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Section 9.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Borrowing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means any Loans of the same Type and Class made, converted or continued on the same date and, in the case of Term Benchmark Loans, as to which a single Interest Period is in effect.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Borrowing Request</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means a request by the Borrower for a Borrowing in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Section&#160;2.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt"> and substantially in the form attached hereto as </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Exhibit&#160;B</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt"> or such other form that is reasonably acceptable to the Administrative Agent and the Borrower.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Burdensome Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Section 6.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Business Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">, that when used in connection with a Term Benchmark Loan, the term &#8220;Business Day&#8221; shall include any day (other than a Saturday or a Sunday) on which banks are open for business in Chicago&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">, that, in relation to RFR Loans and any interest rate settings, fundings, disbursements, settlements or payments of any such RFR Loan, or any other dealings of such RFR Loan, the term &#8220;Business Day&#8221; shall  mean a U.S. Government Securities Business Day.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt;text-decoration:underline">Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.30pt">&#8221; means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation), including partnership interests, membership interests, profits interests and any and all warrants, rights or options to purchase or other arrangements or rights to acquire any of the foregoing, but excluding for the avoidance of doubt any Indebtedness convertible into or exchangeable for any of the foregoing.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-13-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Captive Insurance Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means any Restricted Subsidiary of the Borrower that is subject to regulation as an insurance company (or any Restricted Subsidiary thereof).</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Cash</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means money, currency or a credit balance in any Deposit Account, in each case determined in accordance with GAAP.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Cash Equivalents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, as at any date of determination, (a) readily marketable securities (i)&#160;issued or directly and unconditionally guaranteed or insured as to interest and principal by the U.S. government or (ii) issued by any agency or instrumentality of the U.S. the obligations of which are backed by the full faith and credit of the U.S., in each case maturing within one year after such date and, in each case, repurchase agreements and reverse repurchase agreements relating thereto&#59; (b) readily marketable direct obligations issued by any state of the U.S. or any political subdivision of any such state or any public instrumentality thereof or by any foreign government, in each case maturing within one year after such date and having, at the time of the acquisition thereof, a rating of at least A-2 from S&#38;P or at least P-2 from Moody&#8217;s (or, if at any time neither S&#38;P nor Moody&#8217;s shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency) and, in each case, repurchase agreements and reverse repurchase agreements relating thereto&#59; (c) commercial paper maturing no more than one year from the date of creation thereof and having, at the time of the acquisition thereof, a rating of at least A-2 from S&#38;P or at least P-2 from Moody&#8217;s (or, if at any time neither S&#38;P nor Moody&#8217;s shall be rating such obligations, an equivalent rating from another nationally recognized statistical rating agency)&#59; (d) deposits, money market deposits, time deposit accounts, certificates of deposit or bankers&#8217; acceptances (or similar instruments) maturing within one year after such date and issued or accepted by any Lender or by any bank organized under, or authorized to operate as a bank under, the laws of the U.S., any state thereof or the District of Columbia or any political subdivision thereof and that has capital and surplus of not less than $100,000,000 and, in each case, repurchase agreements and reverse repurchase agreements relating thereto&#59; (e) securities with maturities of six months or less from the date of acquisition backed by standby letters of credit issued by any commercial bank having capital and surplus of not less than $100,000,000&#59; (f) shares of any money market mutual fund that has (i) substantially all of its assets invested in the types of investments referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, (ii) net assets of not less than $250,000,000 and (iii) a rating of at least A-2 from S&#38;P or at least P-2 from Moody&#8217;s&#59; and (g) solely with respect to any Captive Insurance Subsidiary, any investment that such Captive Insurance Subsidiary is not prohibited to make in accordance with applicable law.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The term &#8220;Cash Equivalents&#8221; shall also include (x) Investments of the type and maturity described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above of foreign obligors, which Investments or obligors (or the parent companies thereof) have the ratings described in such clauses or equivalent ratings from comparable foreign rating agencies and (y) other short-term Investments utilized by Foreign Subsidiaries in accordance with normal investment practices for cash management in Investments that are analogous to the Investments described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and in this paragraph.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Change in Law</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8221; means (a) the adoption of any law, treaty, rule or regulation after the Closing Date, (b) any change in any law, treaty, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the Closing Date or (c) compliance by any Lender (or, for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Section 2.15(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, by any lending office of such Lender or by such Lender&#8217;s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the Closing Date (other than any such request, guideline or directive to comply with any law, rule or regulation that was in effect on the Closing Date).  For purposes of this definition and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-14-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">guidelines, requirements and directives thereunder or issued in connection therewith or in implementation thereof and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or U.S. or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> above, be deemed to be a Change in Law, regardless of the date enacted, adopted, issued or implemented.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Change of Control</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8221; means the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act) (including any group acting for the purpose of acquiring, holding or disposing of Securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), but excluding (i) any employee benefit plan and&#47;or Person acting as the trustee, agent or other fiduciary or administrator therefor and (ii) one or more Permitted Holders), of Capital Stock representing more than the greater of (x) 40% of the total voting power of all of the outstanding voting stock of the Borrower and (y) the percentage of the total voting power of all of the outstanding voting stock of the Borrower owned, directly or indirectly, beneficially by the Permitted Holders. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Charge</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8221; means any fee, loss, charge, expense, cost, accrual or reserve of any kind.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Charged Amounts</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Section&#160;9.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Class</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">,&#8221; when used with respect to (a) any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, are Initial Term Loans, 2019 New Term Loans, Term B-2 Loans, Term B-3 Loans, Term B-4 Loans, Term B-5 Loans, Term B-6 Loans</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">, Term B-7 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> or other Additional Term Loans of any series established as a separate &#8220;Class&#8221; pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, (b) any Commitment, refers to whether such Commitment is an Initial Term Loan Commitment or an Additional Term Loan Commitment of any series established as a separate &#8220;Class&#8221; pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> and (c) any Lender, refers to whether such Lender has a Loan or Commitment of a particular Class. For the avoidance of doubt, (i) the Term B-3 Loans shall constitute, and shall be treated as, a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-4 Loans&#8221;, the &#8220;Term B-5 Loans&#8221;</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> the &#8220;Term B-6 </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Loans&#8221; and the &#8220;Term B-7 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">Loans&#8221; under the Loan Documents, (ii) the Replacement Term B-3 Loans and the Incremental Term B-3 Loans shall constitute, and shall be treated as, forming parts of the same Class of &#8220;Term Loans&#8221; under the Loan Documents, (iii) the Initial Term B-4 Loans and the Incremental Term B-4 Loans shall constitute, and shall be treated as, forming parts of the same Class of &#8220;Term Loans&#8221; under the Loan Documents, (iv) the Term B-4 Loans shall constitute, and shall be treated as, a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-3 Loans&#8221;, the &#8220;Term B-5 Loans&#8221;</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> the &#8220;Term B-6 </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Loans&#8221; and the &#8220;Term B-7 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">Loans&#8221; under the Loan Documents, (v) the Term B-5 Loans shall constitute, and shall be treated as a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, &#8220;Term B-3 Loans&#8221;, &#8220;Term B-4 Loans&#8221;</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> &#8220;Term B-6 </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Loans&#8221; and &#8220;Term B-7 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">Loans&#8221; under the Loan Documents, (vi) the Replacement Term B-6 Loans and the Incremental Term B-6 Loans shall constitute, and shall be treated as, forming parts of the same Class of &#8220;Term Loans&#8221; under the Loan Documents</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> (vii) the Term B-6 Loans shall constitute, and shall be treated as a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, &#8220;Term B-3 Loans&#8221;, &#8220;Term B-4 Loans&#8221;</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> &#8220;Term B-5 </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Loans&#8221; and &#8220;Term B-7 Loans&#8221; under the Loan Documents, (viii) the Replacement Term B-7 Loans and the Incremental Term B-7 Loans shall constitute, and shall be treated as, forming parts of the same Class of &#8220;Term Loans&#8221; under the Loan Documents and (ix) the Term B-7 Loans shall constitute, and shall be treated as a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 Term Loans&#8221;, &#8220;Term B-3 Loans&#8221;, &#8220;Term B-4 Loans&#8221;, &#8220;Term B-5 Loans&#8221; and &#8220;Term B-6 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">Loans&#8221; under the Loan Documents.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Closing Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means April 23, 2019, the date on which the conditions specified in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 4.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> were satisfied (or waived in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">).</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-15-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">CME Term SOFR Administrator</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR) (or a successor administrator).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Code</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Internal Revenue Code of 1986, as amended.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Collateral</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means any and all property of any Loan Party subject (or purported to be subject) to a Lien under any Collateral Document and any and all other property of any Loan Party, now existing or hereafter acquired, that is or becomes subject (or purported to be subject) to a Lien pursuant to any Collateral Document to secure the Secured Obligations.  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style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, the requirement that&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(a)&#160;&#160;&#160;&#160;the Administrative Agent shall have received in the case of any Restricted Subsidiary that is required to become a Loan Party after the Closing Date (including by ceasing to be an Excluded Subsidiary) and each Discretionary Guarantor&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(i)&#160;&#160;&#160;&#160;(A) a joinder to the Loan Guaranty in substantially the form attached as an exhibit thereto, (B) a supplement to the Security Agreement in substantially the form attached as an exhibit thereto, (C) if the respective Restricted Subsidiary required to comply with the requirements set forth in this definition pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> owns registrations of or applications for U.S. Patents, Trademarks and&#47;or Copyrights that do not constitute Excluded Assets and are intended to constitute Collateral, an Intellectual Property Security Agreement in substantially the form attached as </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Exhibit C-2</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> hereto, (D)&#160;a completed Perfection Certificate or Perfection Certificate Supplement, as applicable, and a certificate of a type described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 4.01(c)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, (E)&#160;Uniform Commercial Code financing statements in appropriate form for filing in such jurisdictions as the Administrative Agent may reasonably request, and (F) a joinder to the Intercompany Note, in each case duly executed by the appropriate parties&#59; </font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(ii)&#160;&#160;&#160;&#160;each item of Collateral that such Restricted Subsidiary is required to deliver under the Security Agreement (which, for the avoidance of doubt, shall be delivered within the time periods set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or the Security Agreement, as applicable)&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(iii)&#160;&#160;&#160;&#160;in the event a Restricted Subsidiary that is organized in a jurisdiction other than a jurisdiction in the United States becomes a Foreign Discretionary Guarantor, the Capital Stock of such Foreign Discretionary Guarantor shall be pledged (unless such Capital Stock constitutes an Excluded Asset for any reason other than solely by virtue of such Restricted Subsidiary being a Foreign Subsidiary) and such Loan Party shall grant a perfected lien on substantially all of its assets, in each case pursuant to an arrangement reasonably agreed between the Administrative Agent and the Borrower subject to customary limitations and exclusions in such jurisdiction as reasonably agreed between the Administrative Agent and the Borrower&#59; and</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.45pt">(b)&#160;&#160;&#160;&#160;the Administrative Agent shall have received with respect to any Material Real Estate Assets acquired after the Closing Date that do not constitute Excluded Assets, a Mortgage and any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-16-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.45pt">necessary UCC fixture filing in respect thereof, in each case together with, to the extent customary and appropriate (as reasonably determined by the Administrative Agent and the Borrower)&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;evidence that (A) counterparts of such Mortgage have been duly executed, acknowledged and delivered and such Mortgage and any corresponding UCC or equivalent fixture filing are in form suitable for filing or recording in all filing or recording offices that the Administrative Agent may deem reasonably necessary in order to create a valid and subsisting Lien on such Material Real Estate Asset in favor of the Administrative Agent for the benefit of the Secured Parties, (B) such Mortgage and any corresponding UCC or equivalent fixture filings have been duly recorded or filed, as applicable, and (C) all filing and recording taxes and fees have been paid or otherwise provided for in a manner reasonably satisfactory to the Administrative Agent&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;one or more fully paid policies of title insurance (the &#8220;</font><font 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applicable jurisdiction&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160;customary legal opinions of local counsel for the relevant Loan Party addressed to the Administrative Agent and the Secured Parties in the jurisdiction in which such Material Real Estate Asset is located, and if applicable, in the jurisdiction of formation of the relevant Loan Party, with respect to the due authorization, execution, delivery, enforceability and validity of the lien of such Mortgage and the perfection of any related fixture filings, in each case as the Administrative Agent may reasonably request and shall otherwise be in form and substance reasonably satisfactory to the Administrative Agent&#59; </font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv)&#160;&#160;&#160;&#160;ALTA surveys, including an existing survey together with a no-change affidavit sufficient for the title insurance company to remove the standard survey exception from the Mortgage Policies and issue the survey-related endorsements and appraisals (if required under the Financial Institutions Reform Recovery and Enforcement Act of 1989, as amended)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Administrative Agent shall accept any such existing certificate or appraisal so long as such existing certificate or appraisal satisfies any applicable local law requirements&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160;a completed life-of-loan Federal Emergency Management Agency standard flood hazard determination with respect to each Material Real Estate Asset.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding any provision of any Loan Document to the contrary, if a mortgage tax or any similar tax or charge will be owed on the entire amount of the Secured Obligations evidenced hereby, then, to the extent permitted by, and in accordance with, applicable law, the amount of such mortgage tax or any similar tax or charge shall be calculated based on the lesser of (x) the amount of the Secured Obligations allocated to the applicable Material Real Estate Assets and (y) the fair market value of the applicable Material Real Estate Assets at the time the 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> will result in a limitation of the Secured Obligations secured by the Mortgage to such amount. </font></div><div><font><br></font></div><div style="text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Collateral Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, collectively, (i)&#160;the Security Agreement, (ii)&#160;each Mortgage, (iii) each Intellectual Property Security Agreement, (iv)&#160;any supplement to any of the foregoing delivered to the Administrative Agent pursuant to the definition of &#8220;Collateral and Guarantee Requirement,&#8221; and (v)&#160;each of the other instruments and documents 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means, with respect to each Lender, such Lender&#8217;s Initial Term Loan </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Commitment and Additional Commitment, as applicable, in effect as of such time.</font></div><div><font><br></font></div><div style="text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Commitment Schedule</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Schedule attached hereto as </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Schedule 1.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div style="text-indent:27pt"><font><br></font></div><div style="text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Commodity Exchange Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means the Commodity Exchange Act (7 U.S.C. &#167; 1 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:14.00pt">et seq</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.).</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Competitor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Disqualified Institution.&#8221;</font></div><div><font><br></font></div><div style="text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Compliance Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means a Compliance Certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Exhibit&#160;D</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Confidential Information</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">. </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Consolidated Net Income</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, in respect of any period and as determined for any Person (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Subject Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221;) on a consolidated basis, an amount equal to the sum of net income, determined in accordance with GAAP, but excluding&#58;</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(a)&#160;&#160;&#160;&#160;(i) the income of any person (other than a Restricted Subsidiary of the Subject Person), except to the extent of the amount of dividends or distributions or other payments (including any ordinary course dividend, distribution or other payment) paid in cash (or to the extent converted into cash within 180 days after receipt) to the Subject Person or any of its Restricted Subsidiaries by such Person during such period or (ii) the loss of any Person (other than a Restricted Subsidiary of the Subject Person), other than to the extent that the Subject Person or any of its Restricted Subsidiaries has contributed Cash or Cash Equivalents to such Person in respect of such loss during such period,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(b)&#160;&#160;&#160;&#160;any gain or Charge attributable to any asset Disposition (including asset retirement costs and including abandonments of assets) or of returned surplus assets, in each case, outside the ordinary course of business,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(c)&#160;&#160;&#160;&#160;(i) any gain or Charge from (A) any extraordinary item (as determined in good faith by such Person) and&#47;or (B) any nonrecurring or unusual item (as determined in good faith by such Person) and&#47;or (ii) any Charge associated with and&#47;or payment of any actual or prospective legal settlement, fine, judgment or order,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(d)&#160;&#160;&#160;&#160;any net gain or Charge with respect to (i) any disposed, abandoned, divested and&#47;or discontinued asset, property or operation (other than, at the option of the Borrower, any asset, property or operation pending the disposal, abandonment, divestiture and&#47;or termination thereof), (ii) any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-18-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">disposal, abandonment, divestiture and&#47;or discontinuation of any asset, property or operation (other than, at the option of the Borrower, relating to assets or properties held for sale or pending the divestiture or termination thereof) and&#47;or (iii) any facility that has been closed during such period,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(e)&#160;&#160;&#160;&#160;any net income or Charge (less all fees and expenses or charges related thereto) or write-off or amortization made of any deferred financing cost and&#47;or premium paid or other Charge, in each case attributable to the early extinguishment of Indebtedness (and the termination of any associated Hedge Agreement),</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(f)&#160;&#160;&#160;&#160;(i) any Charge incurred as a result of, in connection with or pursuant to any profits interest plan, equity incentive, stock option plan, other management equity plan, or any other management or employee benefit plan or agreement, any pension plan (including any post-employment benefic scheme which has been agreed with the relevant pension trustee), any stock subscription or shareholder agreement, any employee benefit trust, any employment benefit scheme or any similar equity plan or agreement (including any deferred compensation arrangement) and (ii) any Charge incurred in connection with the rollover, acceleration or payout of Capital Stock held by management of the Borrower and&#47;or any Restricted Subsidiary, in each case under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">subclause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">, to the extent that any cash Charge is funded with net cash proceeds contributed to the relevant Person as a capital contribution or as a result of the sale or issuance of Qualified Capital Stock (other than any amount included in the calculation of the Available Amount pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">clause (a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> of the definition thereof or any amount included in the Available Excluded Contribution Amount),</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(g)&#160;&#160;&#160;&#160;any Charge that is established, adjusted and&#47;or incurred, as applicable, (i) within 18 months after the closing of any other acquisition, investment or asset sale that is required to be established, adjusted or incurred, as applicable, as a result 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or recapitalization accounting or the amortization or write-off of any amounts thereof, net of Taxes, and (B) the cumulative effect of changes in, or the adoption or modification of, accounting principles or policies made in such period in accordance with GAAP which affect Consolidated Net Income (except that, if the Borrower determines in good faith that the cumulative effects thereof are not material to the interests of the Lenders, the effects of any change, adoption or modification of any such principles or policies may be included in any subsequent period after the Fiscal Quarter in which such change, adoption or modification was made), and</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(i)&#160;&#160;&#160;&#160;(i)&#160;any realized or unrealized gain or loss in respect of (x) any obligation under any Hedge Agreement not entered into for speculative purposes as determined in accordance with GAAP and&#47;or (y) any other derivative instrument pursuant to, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">, Financial Accounting Standards Board&#8217;s Accounting Standards Codification No. 815-Derivatives and Hedging, (ii)&#160;any realized or unrealized foreign currency exchange gain or loss (including any currency re-measurement of Indebtedness, any net gain or loss resulting from Hedge Agreements for currency exchange risk resulting from any intercompany Indebtedness, any foreign currency translation or transaction or any other currency-related risk)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">, that notwithstanding anything to the contrary </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-19-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">herein, realized gains and losses in respect of any Designated Operational FX Hedge shall be included in the calculation of Consolidated Net Income.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">Consolidated Senior Debt</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221; means, at any date of determination, the sum of (x) Consolidated Total Debt as of the last day of the most recently ended Test Period </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> (y) the 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style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(c)&#160;&#160;&#160;&#160;depreciation and amortization, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(d) &#160;&#160;&#160;&#160;any unrealized gain or losses or other non-cash items included in net income, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(e)&#160;&#160;&#160;&#160;one-time events pursuant to changes in GAAP and certain non-cash charges or expense items, in each case, as determined by the Manager and approved by a majority of the independent directors of the Borrower, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font 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Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Corresponding Tenor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; with respect to any Available Tenor means, as applicable, either a tenor (including overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Covered Entity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means any of the following&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;padding-left:25.63pt">a &#8220;covered entity&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 252.82(b)&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;padding-left:22.58pt">a &#8220;covered bank&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 47.3(b)&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;padding-left:19.53pt">a &#8220;covered FSI&#8221; as that term is defined in, and interpreted in accordance with, 12 C.F.R. &#167; 382.2(b).</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Covered Party</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to it in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Section 9.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">CRE Finance Assets</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means (i) any commercial real estate loans and&#47;or direct or indirect interests therein (including, without limitation, commercial mortgage backed securities, collateralized loan obligations, mezzanine interests, senior and junior notes and participation interests with respect to any of the foregoing), (ii) any rights, assets or investments similar to or derivative of, any item referred to in the foregoing clause (i) and&#47;or the origination, acquisition, financing, servicing or administration thereof (regardless of whether or not the Borrower or any of its Restricted Subsidiaries owns or originated the applicable commercial real estate loan or direct or indirect interest therein) and (iii) Capital Stock in any Person substantially all of whose assets, directly or indirectly, are comprised of one or more of the items referred to in the foregoing clauses (i) and&#47;or (ii). For the avoidance of doubt, no Real Estate Investment shall constitute a CRE Finance Asset. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">CRE Financing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; shall mean any Indebtedness or obligations principally secured directly or indirectly by, and incurred for the primary purpose of directly or indirectly funding the acquisition of, or any Investment in, or otherwise financing, refinancing or capitalizing any previous acquisition of, or Investment </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-21-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">in, Real Estate Investments and&#47;or interests therein (including, for the avoidance of doubt, any mezzanine financing secured by Capital Stock in Subsidiaries that directly or indirectly own Real Estate Investments). </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Cure Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 6.13(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Cure Right</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 6.13(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Daily Simple SOFR</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:7.8pt;font-weight:400;line-height:13.70pt;position:relative;top:-4.2pt;vertical-align:baseline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">means, for any day (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">SOFR Rate Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221;), a rate per annum equal to SOFR for the day (such day &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">SOFR Determination Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221;) that is five (5) U.S. Government Securities Business Days prior to (i) if such SOFR Rate Day is a U.S. Government Securities Business Day, such SOFR Rate Day or (ii) if such SOFR Rate Day is not a U.S. Government Securities Business Day, the U.S. Government Securities Business Day immediately preceding such SOFR Rate Day, in each case, as such SOFR is published by the SOFR Administrator on the SOFR Administrator&#8217;s Website&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> that, in no event shall Daily Simple SOFR for  the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> Loans or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> Loans be less than the Floor. Any change in Daily Simple SOFR due to a change in SOFR shall be effective from and including the effective date of such change in SOFR.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Debt Fund Affiliate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means any Affiliate of the Sponsor (other than a natural Person, the Borrower or any of its Subsidiaries) that is a bona fide debt fund or investment vehicle that is primarily engaged in, or advises funds or other investment vehicles that are engaged in, making, purchasing, holding or otherwise investing in commercial loans, bonds and similar extensions of credit or securities in the ordinary course, in each case with respect to which the Persons making such investment decisions for such applicable Affiliate are not primarily engaged in the making, acquiring or holding of equity investments in the Borrower or any of its Subsidiaries.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Debtor Relief Laws</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means the Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, general assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization or similar debtor relief laws of the U.S. or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Declined Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 2.11(b)(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Default</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means any event or condition which upon notice, lapse of time or both would become an Event of Default.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Default Right</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. &#167;&#167; 252.81, 47.2 or 382.1, as applicable.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Defaulting Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means any Lender that has (a) defaulted in its obligations under this Agreement, including without limitation,&#160;to make a Loan within two Business Days of the date required to be made by it hereunder, unless such Lender notifies the Administrative Agent in writing that such failure is the result of such Lender&#8217;s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not been satisfied, (b) notified the Administrative Agent or the Borrower in writing that it does not intend to satisfy any such obligation or has made a public statement to the effect that it does not intend to comply with its funding obligations under this Agreement or under agreements in which it commits to extend credit generally (unless such writing indicates that such position is based on such Lender&#8217;s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding a Loan cannot be satisfied), (c) failed, within two </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-22-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Business Days after the request of the Administrative Agent or the Borrower, to confirm in writing that it will comply with the terms of this Agreement relating to its obligations to fund prospective Loans&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that such Lender shall cease to be a Defaulting Lender pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">clause&#160;(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> upon receipt of such written confirmation by the Administrative Agent, (d) become (or any parent company thereof has become) insolvent or been determined by any Governmental Authority having regulatory authority over such Person or its assets, to be insolvent, or the assets or management of which has been taken over by any Governmental Authority or (e) become the subject of (i)&#160;a bankruptcy, insolvency, receivership or other similar case or proceeding or (ii) a Bail-In Action, or has had a receiver, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or custodian, appointed for it, or has taken any action in furtherance of, or indicating its consent to, approval of or acquiescence in, any such proceeding or appointment, unless in the case of any Lender subject to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">clause (e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, the Borrower and the Administrative Agent have each determined that such Lender intends, and has all approvals required to enable it (in form and substance satisfactory to the Borrower and the Administrative Agent), to continue to perform its obligations as a Lender hereunder&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that no Lender shall be deemed to be a Defaulting Lender solely by virtue of the ownership or acquisition of any Capital Stock in such Lender or its parent by any Governmental Authority&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that such action does not result in or provide such Lender with immunity from the jurisdiction of courts within the U.S. or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contract or agreement to which such Lender is a party.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Deposit Account</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means a demand, time, savings, passbook or like account with a bank, savings and loan association, credit union or like organization, other than an account evidenced by a negotiable certificate of deposit.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Derivative Transaction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means (a) any interest-rate transaction, including any interest-rate swap, basis swap, forward rate agreement, interest rate option (including a cap, collar or floor) and any other instrument linked to interest rates that gives rise to similar credit risks (including when-issued securities and forward deposits accepted), (b) any exchange-rate transaction, including any cross-currency interest-rate swap, any forward foreign-exchange contract, any currency option and any other instrument linked to exchange rates that gives rise to similar credit risks, (c) any equity derivative transaction, including any equity-linked swap, any equity-linked option, any forward equity-linked contract and any other instrument linked to equities that gives rise to similar credit risk and (d) any commodity (including precious metal) derivative transaction, including any commodity-linked swap, any commodity-linked option, any forward commodity-linked contract and any other instrument linked to commodities that gives rise to similar credit risks&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees, members of management, managers or consultants of the Borrower or its Subsidiaries shall be a Derivative Transaction.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Designated Non-Cash Consideration</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means the fair market value (as determined by the Borrower in good faith) of non-Cash consideration received by the Borrower or any Restricted Subsidiary in connection with any Disposition pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 6.07(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that is designated as Designated Non-Cash Consideration pursuant to a certificate of a Financial Officer of the Borrower, setting forth the basis of such valuation (which amount will be reduced by the amount of Cash or Cash Equivalents received in connection with a subsequent sale or conversion of such Designated Non-Cash Consideration to Cash or Cash Equivalents).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Designated Operational FX Hedge</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means any Hedge Agreement entered into for the purpose of hedging currency related risks in respect of the revenues, cash flows or other balance sheet items of the Borrower and&#47;or any of its Subsidiaries and designated at the time entered into (or on or prior to the Closing Date, with respect to any Hedge Agreement entered into on or prior to the Closing Date) as a Designated Operational FX Hedge by the Borrower in a writing delivered to the Administrative Agent.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-23-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Designated Revolving Commitments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means any commitments to make loans or extend credit on a revolving basis (or delayed draw basis) to the Borrower or any Restricted Subsidiary by any Person other than the Borrower or any Restricted Subsidiary that have been designated in a certificate of a Financial Officer of the Borrower and delivered to the Administrative Agent as &#8220;Designated Revolving Commitments&#8221; until such time as the Borrower subsequently delivers a certificate of a Financial Officer of the Borrower to the Administrative Agent to the effect that such commitments will no longer constitute &#8220;Designated Revolving Commitments&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Discretionary Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Guarantor&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Disposition</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Dispose</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means the sale, lease, sublease, or other disposition (but excluding, for the avoidance of doubt, repayments) of any property of any Person&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> that all sales, leases, subleases, syndications and other dispositions of CRE Finance Assets in the ordinary course of business (as determined in good faith by the Borrower) shall not constitute a Disposition.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Disqualified Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means any Capital Stock which, by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable), or upon the happening of any event, (a) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable (other than for Qualified Capital Stock), pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such redemption is in part, only such part coming into effect prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock), (b) is or becomes convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or (ii) any Capital Stock that would constitute Disqualified Capital Stock, in each case at any time on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued, (c) contains any mandatory repurchase obligation or any other repurchase obligation at the option of the holder thereof (other than for Qualified Capital Stock), in whole or in part, which may come into effect prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued (it being understood that if any such repurchase obligation is in part, only such part coming into effect prior to 91 days following the Latest Maturity Date shall constitute Disqualified Capital Stock) or (d) provides for the scheduled payments of dividends in Cash on or prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt"> that any Capital Stock that would not constitute Disqualified Capital Stock but for provisions thereof giving holders thereof (or the holders of any security into or for which such Capital Stock is convertible, exchangeable or exercisable) the right to require the issuer thereof to redeem such Capital Stock upon the occurrence of any change of control or any Disposition occurring prior to 91 days following the Latest Maturity Date at the time such Capital Stock is issued shall not constitute Disqualified Capital Stock if such Capital Stock provides that the issuer thereof will not redeem any such Capital Stock pursuant to such provisions prior to the Termination Date.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Notwithstanding the preceding sentence, (A) if such Capital Stock is issued for the benefit of directors, officers, employees, members of management, managers or consultants or by any such plan to such directors, officers, employees, members of management, managers or consultants of the Borrower or its Restricted Subsidiaries (or the Manager or its Affiliates), in each case in the ordinary course of business of the Borrower or any Restricted Subsidiary, such Capital Stock shall not constitute Disqualified Capital Stock solely because it may be required to be repurchased by the issuer thereof in order to satisfy applicable statutory or regulatory obligations, and (B) no Capital Stock held by any future, present or former </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-24-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">employee, director, officer, manager, member of management or consultant (or their respective Affiliates or Immediate Family Members) of the Borrower (or any Subsidiary) shall be considered Disqualified Capital Stock because such stock is redeemable or subject to repurchase pursuant to any management equity subscription agreement, stock option, stock appreciation right or other stock award agreement, stock ownership plan, put agreement, stockholder agreement or similar agreement that may be in effect from time to time.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Disqualified Institution</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(a)&#160;&#160;&#160;&#160;(i) any Person identified in writing to the Arrangers on or prior to April 10, 2019, (ii)&#160;any Person thereafter identified in writing (and reasonably acceptable) to the Arrangers prior to the Closing Date, (iii) any Affiliate of any Person described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clauses&#160;(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> above that is reasonably identifiable as an Affiliate of such Person solely on the basis of such Affiliate&#8217;s name and (iv) any other Affiliate of any Person described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clauses&#160;(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> above that is identified in a written notice to the Arrangers (if prior to the Closing Date) or the Administrative Agent as described below (if after the Closing Date) (each such person, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Disqualified Lending Institution</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;), and&#47;or</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">(b)&#160;&#160;&#160;&#160;(i) any Person that is or becomes a competitor of the Borrower, the Manager or any of their respective Subsidiaries or Affiliates (each such person, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Competitor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;) and any Affiliate of any Competitor (other than any Affiliate that is a Bona Fide Debt Fund) and is identified as such in writing to the Arrangers (if prior to the Closing Date) or the Administrative Agent as described below (if after the Closing Date), (ii) any Affiliate of any Person described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> above (other than any Affiliate that is a Bona Fide Debt Fund) that is reasonably identifiable as an Affiliate of such Person solely on the basis of such Affiliate&#8217;s name and (iii) any other Affiliate of any Person described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (i</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">) above that is identified in a written notice to the Arrangers (if prior to the Closing Date) or to the Administrative Agent as described below (if after the Closing Date) (it being understood and agreed that no Bona Fide Debt Fund may be designated as a Disqualified Institution pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">)&#59; </font></div><div style="margin-bottom:12pt;margin-top:3pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">it being understood and agreed that (x) no written notice delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clauses (a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(a)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(b)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(b)(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> above shall apply retroactively to disqualify any Person that has previously acquired an assignment or participation interest in any Loans and (y)&#160;any designation of a Person as a Disqualified Institution permitted above shall not be effective until the third Business Day after written notice thereof by the Borrower to the Administrative Agent in accordance with the next succeeding paragraph. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Any supplement or other modification to the list of Persons identified as Disqualified Institutions permitted above shall be e-mailed to the Administrative Agent at JPMDQcontact&#64;JPMorgan.com.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Disqualified Lending Institution</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in the definition of </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;Disqualified Institution.&#8221;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Dividing Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to it in the definition of &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Division</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Division</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the division of the assets, liabilities and&#47;or obligations of a Person that is a limited liability company (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Dividing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.00pt;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;) among two or more Persons (whether pursuant to a &#8220;plan of division&#8221; or similar arrangement resulting in two or more Persons), which may or may not include the Dividing Person and pursuant to which the Dividing Person may or may not survive. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Division Successor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Person that, upon the consummation of a Division of a Dividing Person, holds all or any portion of the assets, liabilities and&#47;or obligations previously held by such Dividing </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-25-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Person immediately prior to the consummation of such Division. A Dividing Person which retains any of its assets, liabilities and&#47;or obligations after a Division shall be deemed a Division Successor upon the occurrence of such Division.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Dollar Equivalent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, on any date of determination, (a) with respect to any amount denominated in Dollars, such amount, and (b) with respect to any amount in any other currency, the equivalent in Dollars of such amount determined pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 1.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Dollars</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">$</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; refers to lawful money of the U.S.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Domestic Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Restricted Subsidiary incorporated or organized under the laws of the U.S., any state thereof or the District of Columbia.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Dutch Auction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Schedule&#160;1.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> hereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">EEA Financial Institution</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> of this definition and is subject to consolidated supervision with its parent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">EEA Member Country</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">EEA Resolution Authority</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any public administrative authority or any person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Effective Yield</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, as to any Indebtedness, the effective yield applicable thereto calculated by the Administrative Agent in consultation with the Borrower in a manner consistent with generally accepted financial practices, taking into account (a) interest rate margins, (b) interest rate floors (subject to the proviso set forth below), (c) any amendment to the relevant interest rate margins and interest rate floors effective subsequent to the Closing Date but prior to the applicable date of determination and (d) original issue discount and upfront or similar fees on customary terms paid by the Borrower (with upfront fees and original issue discount being equated to interest rate margins based on an assumed four-year average life to maturity or lesser remaining average life to maturity) (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> that, solely for purposes of determining the Effective Yield of Term B-6 Loans for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 2.22(a)(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, any original issue discount and upfront or similar fees paid by the Borrower with respect to the Replacement Term B-6 Loans on the Eleventh Amendment Effective Date shall be deemed to have been paid with respect to the Incremental Term B-6 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">in an equivalent percentage as paid with respect to the Replacement Term B-6 Loans), but excluding (i) any prepayment premiums, arrangement, commitment, structuring, underwriting, placement, success, advisory, ticking, unused line fees, amendment and&#47;or consent fees (regardless of whether any such fees are paid to or shared in whole or in part with any lender) and (ii) any other fee that is not paid directly by the Borrower generally to all relevant lenders ratably&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, that (A) to the extent that the Term SOFR Rate (with an Interest Period of three months) or Alternate Base Rate (in each case, without giving effect to any floor specified in the definition thereof) is less than any floor applicable to the Term Loans in respect of which the Effective Yield is being calculated on the date on which the Effective Yield is determined, the amount of the resulting difference will be deemed added to the interest rate margin </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-26-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">applicable to the relevant Indebtedness for purposes of calculating the Effective Yield and (B) to the extent that the Term SOFR Rate (with an Interest Period of three months)  or Alternate Base Rate (in each case, without giving effect to any floor specified in the definition thereof) is greater than any applicable floor on the date on which the Effective Yield is determined, the floor will be disregarded in calculating the Effective Yield.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Eighth Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means that certain Eighth Amendment to Term Loan Credit Agreement, dated as of June 7, 2023, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#34;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Eleventh Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means that certain Eleventh Amendment to Term Loan Credit Agreement, dated as of June 18, 2025, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Eleventh Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; has the meaning assigned to such term in the Eleventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Eleventh Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means June 18, 2025.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Eligible Assignee</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means (a) any Lender, (b) any commercial bank, insurance company, or finance company, financial institution, any fund that invests in loans or any other &#8220;accredited investor&#8221; (as defined in Regulation D of the Securities Act), (c) any Affiliate of any Lender, (d) any Approved Fund of any Lender and (e)&#160;to the extent permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Section&#160;9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">, any Affiliated Lender or any Debt Fund Affiliate&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt"> that in any event, &#8220;Eligible Assignee&#8221; shall not include (i) any natural person, (ii) any Disqualified Institution or (iii)&#160;except as permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Section&#160;9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">, the Borrower or any of its Affiliates.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Environment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata &#38; natural resources such as wetlands, flora and fauna.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Environmental Claim</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means any investigation, notice, notice of violation, claim, action, suit, proceeding, demand, abatement order or other order or directive (conditional or otherwise), by any Governmental Authority or any other Person, arising (a) pursuant to or in connection with any actual or alleged violation of any Environmental Law&#59; (b) in connection with any Hazardous Material or any actual or alleged Hazardous Materials Activity&#59; or (c) in connection with any actual or alleged damage, injury, threat or harm to the Environment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Environmental Laws</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means any and all current or future applicable foreign or domestic, federal or state (or any subdivision of either of them), statutes, ordinances, orders, rules, regulations, judgments, Governmental Authorizations, or any other applicable requirements of Governmental Authorities and the common law relating to (a) environmental matters, including those relating to any Hazardous Materials Activity&#59; or (b) the generation, use, storage, transportation or disposal of or exposure to Hazardous Materials, in any manner applicable to the Borrower or any of its Restricted Subsidiaries or any Facility.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt;text-decoration:underline">Environmental Liability</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.40pt">&#8221; means any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), directly or indirectly resulting from or based upon (a) any actual or alleged violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the Release or threatened Release of any Hazardous Materials into the Environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-27-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">ERISA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221; means the Employee Retirement Income Security Act of 1974.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">ERISA Affiliate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221; means any trade or business (whether or not incorporated) that is under common control with the Borrower or any Restricted Subsidiary and is treated as a single employer within the meaning of Section 414 of the Code or Section 4001 of ERISA.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">ERISA Event</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221; means (a) a Reportable Event with respect to a Pension Plan&#59; (b) a withdrawal by the Borrower or any Restricted Subsidiary or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations at any facility of the Borrower or any Restricted Subsidiary or any ERISA Affiliate as described in Section 4062(e) of ERISA, in each case, resulting in liability pursuant to Section 4063 of ERISA&#59; (c) a complete or partial withdrawal by the Borrower or any Restricted Subsidiary or any ERISA Affiliate from a Multiemployer Plan resulting in the imposition of Withdrawal Liability on the Borrower or any Restricted Subsidiary or any ERISA Affiliate, notification of the Borrower or any Restricted Subsidiary or any ERISA Affiliate concerning the imposition of Withdrawal Liability or notification that a Multiemployer Plan is &#8220;insolvent&#8221; within the meaning of Section 4245 of ERISA or is in &#8220;reorganization&#8221; within the meaning of Section 4241 of ERISA&#59; (d) the filing of a notice of intent to terminate a Pension Plan under Section 4041(c) of ERISA, the treatment of a Pension Plan amendment as a termination under Section 4041(c) of ERISA, the commencement of proceedings by the PBGC to terminate a Pension Plan or the receipt by the Borrower or any Restricted Subsidiary or any ERISA Affiliate of notice of the treatment of a Multiemployer Plan amendment as a termination under Section 4041A of ERISA or of notice of the commencement of proceedings by the PBGC to terminate a Multiemployer Plan&#59; (e) the occurrence of an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan or Multiemployer Plan&#59; (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any Restricted Subsidiary or any ERISA Affiliate, with respect to the termination of any Pension Plan&#59; or (g) the conditions for imposition of a Lien under Section 303(k) of ERISA have been met with respect to any Pension Plan.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">EU Bail-In Legislation Schedule</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Event of Default</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Article 7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Exchange Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Securities Exchange Act of 1934 and the rules and regulations of the SEC promulgated thereunder.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Excluded Assets</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means each of the following&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any asset (including Capital Stock) the grant or perfection of a security interest in which would (i) be prohibited by enforceable anti-assignment or negative pledge provisions set forth in any contract that is permitted by the terms of this Agreement and is binding on such asset at the Closing Date or at the time of its acquisition and, in each case, to the extent such prohibitions are not incurred in contemplation of the Closing Date or such acquisition, as applicable (other than in the case of Finance Leases and purchase money financings), (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law), (ii) notwithstanding anything in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> to the contrary, be prohibited by any Asset Financing Facility or CRE Financing, in each case, that is permitted hereunder (including, without limitation, any Asset Financing Facility or CRE Financing </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-28-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">existing on the Closing Date or established from time to time after the Closing Date, in each case, that is permitted hereunder) (including, without limitation, to the extent required in order to obtain, or prohibited under, the applicable Asset Financing Facility or CRE Financing, any Capital Stock in any Financing SPE Subsidiary and any direct or indirect parent thereof, in each case, directly owned by any Loan Party (such Capital Stock, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">Financing Equity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">&#8221;)), so long as (I) in the case of any Capital Stock in any Subsidiary that is excluded from the Collateral under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">, all of the outstanding Capital Stock in a direct or indirect parent of such Subsidiary is pledged as Collateral hereunder or under a Collateral Document and (II) no assets shall constitute Excluded Assets under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> other than the (x) relevant CRE Finance Assets or Real Estate Investments, as applicable, financed by such Asset Financing Facility or CRE Financing, as applicable, (y) any corresponding Financing Equity and (z) other assets ancillary to such CRE Finance Asset or Real Estate Investments owned by the Financing SPE Subsidiary under such Asset Financing Facility or CRE Financing, as applicable, (iii) violate the terms of any contract relating to such asset that is permitted or otherwise not prohibited by the terms of this Agreement and is binding on such asset at the time of its acquisition and not incurred in contemplation thereof (other than in the case of Finance Leases and purchase money financings) (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law) or (iv) except with respect to the Capital Stock of any Loan Party or any Wholly-Owned Subsidiary that is a Restricted Subsidiary, trigger termination of any contract relating to such asset that is permitted by the terms of this Agreement pursuant to any &#8220;change of control&#8221; or similar provision (to the extent such contract is binding on such asset at the time of its acquisition and not entered into in contemplation of such acquisition) (after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law) or would violate any joint venture agreement binding on such Capital Stock&#59; it being understood that the term &#8220;Excluded Asset&#8221; shall not include proceeds or receivables arising out of any contract described in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> to the extent that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or other applicable Requirements of Law notwithstanding the relevant prohibition, violation or termination right, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any asset (other than Capital Stock of the Borrower or Restricted Subsidiaries that are Loan Parties) to the extent the grant or perfection of a security interest in such asset would result in material adverse tax consequences (including any adverse tax consequences due to the application of Section 956 of the Code) or materially adverse regulatory consequences, in each case, to any Loan Party as reasonably determined by the Borrower in writing and delivered to the Administrative Agent,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Capital Stock of any (i) Captive Insurance Subsidiary, (ii) Unrestricted Subsidiary, (iii) not-for-profit subsidiary, (iv) special purpose entity used for any permitted Qualified Securitization Financing and&#47;or (v) an Immaterial Subsidiary, in each case, except to the extent such Person is a Loan Party, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any intent-to-use (or similar) Trademark application prior to the filing and acceptance of a &#8220;Statement of Use,&#8221; &#8220;Amendment to Allege Use&#8221; or similar filing with respect thereto, by the United States Patent and Trademark Office, only to the extent, if any, that, and solely during the period if any, in which, the grant of a security interest therein may impair the validity or enforceability of such intent-to-use (or similar) Trademark application under applicable federal Law, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any asset (including Capital Stock), the grant or perfection of a security interest in which would (i) be prohibited under applicable Requirements of Law (including, without limitation, rules and regulations of any Governmental Authority) or (ii) require any governmental (including regulatory) or third party (other than Borrower, a Subsidiary of Borrower, the Manager, or the respective Affiliates of the foregoing) consent, approval, license or authorization (to the extent such </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-29-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">consent, approval, license or authorization was not obtained it being understood and agreed that no Loan Party shall have any obligation to procure any such consent, approval, license or authorization) (in each case in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt">, to the extent such requirement in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (e)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> was not incurred in contemplation of the Closing Date or of such Restricted Subsidiary becoming a Subsidiary (other than in the case of any Asset Financing Facility or CRE Financing with respect to (x) the relevant CRE Finance Assets or Real Estate Investments, as applicable, (y) any corresponding Financing Equity and (z) other assets ancillary to such CRE Finance Asset or Real Estate Investments owned by the Financing SPE Subsidiary under such Asset Financing Facility or CRE Financing, as applicable), financed by such Asset Financing Facility or CRE Financing, as applicable, and any corresponding Financing Equity), and after giving effect to applicable anti-assignment provisions of the UCC or other applicable Requirements of Law and so long as, in the case of any Capital Stock in any Subsidiary that is excluded from the Collateral under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt;text-decoration:underline">clause (e)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.50pt"> as a result of absence of any requisite third party consent, approval, license or authorization only, all of the outstanding Capital Stock in a direct or indirect parent of such Subsidiary is pledged as Collateral hereunder or under a Collateral Document)&#59; 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the Capital Stock of any Person that is not a Wholly-Owned Subsidiary (other than a Loan Party),</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Margin Stock,</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Capital Stock of (i)&#160;any Foreign Subsidiary (other than a Foreign Discretionary Guarantor) and (ii)&#160;any Foreign Subsidiary Holdco, in each case (x) in excess of 65% of the issued and outstanding Capital Stock of any such Person or (y) to the extent such Foreign Subsidiary or Foreign Subsidiary Holdco is not a first-tier Subsidiary of a Loan Party,</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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it being understood that the term &#8220;Excluded Asset&#8221; shall not include proceeds or receivables arising out of any asset described in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clause (l)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> to the extent that the assignment of such proceeds or receivables is expressly deemed to be effective under the UCC or other applicable Requirements of Law notwithstanding the relevant violation or invalidation,</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(m)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any asset with respect to which the Administrative Agent and the relevant Loan Party have reasonably determined that the cost, burden, difficulty or consequence (including any effect on the ability of the relevant Loan Party to conduct its operations and business in the ordinary course of business and including the cost of title insurance, surveys or flood insurance (if necessary) or any mortgage, stamp, intangibles or other tax or expenses of obtaining or perfecting such security interest) of obtaining or perfecting a security interest therein outweighs, or is excessive in light of, the practical benefit of a security interest to the relevant Secured Parties afforded thereby, which determination is evidenced in writing,</font></div><div style="margin-bottom:6pt;margin-top:15pt;padding-left:18pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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</font></div><div style="margin-top:6pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, that Excluded Assets will not include any proceeds, substitutions or replacements &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;of any Excluded Assets (unless such proceeds, substitutions or replacements would otherwise constitute Excluded Assets).</font></div><div style="margin-top:6pt"><font><br></font></div><div style="margin-top:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Excluded Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">&#8221; 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any Restricted Subsidiary (i) that is prohibited or restricted from providing a Loan Guaranty by (A) any Requirement of Law, (B) any Contractual Obligation that, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">clause&#160;(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, exists on the Closing Date or at the time such Restricted Subsidiary becomes a Subsidiary (which Contractual Obligation was not entered into in contemplation of such Restricted Subsidiary becoming a Subsidiary (including pursuant to assumed Indebtedness)) and&#47;or (C) with respect to any Restricted Subsidiary owning, directly or indirectly, the relevant CRE Finance Assets or Real Estate Investments, as applicable, financed thereby, or the corresponding Financing Equity and notwithstanding anything in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">clause (B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> above to the contrary, any Asset Financing Facility or CRE Financing, in each case, that is permitted hereunder (including, without limitation, any Asset Financing Facility or CRE Financing existing on the Closing Date or established from time to time after the Closing Date, in each case, that is permitted hereunder (including Asset Financing Facilities or CRE Financings established in contemplation of the applicable Restricted Subsidiary becoming a Subsidiary)) or (ii) that would require a governmental (including regulatory) or third party (other than Borrower, a Subsidiary of Borrower, the Manager, or the respective Affiliates of the foregoing) consent, approval, license or authorization on the Closing Date or at the time such Restricted Subsidiary becomes a Subsidiary (and (other than in the case of any Asset Financing Facility or CRE Financing with respect to (x) the relevant CRE Finance Assets or Real Estate Investments, as applicable, financed by such Asset Financing Facility or CRE Financing, as applicable, (y) any corresponding Financing Equity and (z) other assets ancillary to such CRE Finance Asset or Real Estate Investments owned by the Financing SPE Subsidiary under such Asset Financing Facility or CRE Financing, as applicable) to the extent such requirement was not incurred in contemplation of the Closing Date or of such Restricted Subsidiary becoming a Subsidiary), (including any regulatory consent, approval, license or authorization) to provide a Loan Guaranty (except to the extent such consent has been obtained, it being understood there is no obligation to obtain or seek to obtain any such consent, approval, license or authorization), so long as, in the case of any Subsidiary that constitutes an Excluded Subsidiary pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">clause (i)(C)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> (with respect to third party consent, approval, license or authorization only) above only, a direct or indirect parent of such Subsidiary is a Guarantor,</font></div><div style="margin-bottom:6pt;margin-top:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any not-for-profit subsidiary, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-32-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(e)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Captive Insurance Subsidiary, </font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any (x) special purpose entity used for any permitted receivables facility or financing (including any Securitization Subsidiary) or (y) Financing SPE Subsidiary, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">clause (y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, that is not an obligor under any Indebtedness and that does not own any assets other than assets ancillary to its potential ownership of CRE Finance Asset or Real Estate Investments under Asset Financing Facilities or CRE Financing, as applicable,  </font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Foreign Subsidiary,</font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (i) any Foreign Subsidiary Holdco and&#47;or (ii) any Domestic Subsidiary that is a direct or indirect subsidiary of a Foreign Subsidiary or of any Foreign Subsidiary Holdco,</font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Unrestricted Subsidiary,</font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(j)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any Restricted Subsidiary acquired pursuant to a Permitted Acquisition or other Investment permitted under this Agreement with assumed Indebtedness permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Section 6.01(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, and each Restricted Subsidiary acquired in such Permitted Acquisition or other Investment permitted hereunder that guarantees such Indebtedness, in each case to the extent that, and for so long as, the documentation relating to such Indebtedness to which such Subsidiary is a party prohibits such Subsidiary from providing a Loan Guaranty (which prohibition was not implemented in contemplation of such Restricted Subsidiary becoming a Subsidiary or in order to avoid the requirement of providing a Loan Guaranty), and</font></div><div style="margin-bottom:6pt;margin-top:9pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any other Restricted Subsidiary with respect to which, in the reasonable judgment of the Administrative Agent and the Borrower, the burden or cost of providing a Loan Guaranty (including any adverse tax consequences to the Borrower or any of its direct or indirect Parent Companies or Subsidiaries) outweighs, or would be excessive in light of, the practical benefits afforded thereby&#59; in each case, unless such Subsidiary becomes a Guarantor pursuant to the last sentence of the definition thereof, which judgment is evidenced in writing&#59; </font></div><div style="margin-top:9pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">, that no Discretionary Guarantor shall constitute an Excluded Subsidiary.</font></div><div style="margin-top:9pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Excluded Swap Obligation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means, with respect to any Guarantor, any Swap Obligation if, and to the extent that, all or a portion of the Loan Guaranty of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation (or any Loan Guaranty thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) (a) by virtue of such Guarantor&#8217;s failure for any reason to constitute an &#8220;eligible contract participant&#8221; as defined in the Commodity Exchange Act and the regulations thereunder (determined after giving effect to Section 3.20 of the Loan Guaranty and any other &#8220;keepwell,&#8221; support or other agreement for the benefit of such Guarantor) at the time the Loan Guaranty of such Guarantor or the grant of such security interest becomes effective with respect to such Swap Obligation or (b) in the case of a Swap Obligation that is subject to a clearing requirement pursuant to section 2(h) of the Commodity Exchange Act, because such Guarantor is a &#8220;financial entity,&#8221; as defined in section 2(h)(7)(C) of the Commodity Exchange Act, at the time the guarantee of (or grant of such security interest by, as applicable) such Guarantor becomes or would become effective with respect to such Swap Obligation.  If a Swap Obligation arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation that is attributable to swaps for which such Loan Guaranty or security interest is or becomes illegal.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-33-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:9pt"><font><br></font></div><div style="text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Excluded Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be made by or on account of any obligation of any Loan Party under any Loan Document, (a) any Taxes imposed on (or measured by) such recipient&#8217;s net income or franchise Taxes, (i)&#160;imposed as a result of such recipient being organized or having its principal office located in or, in the case of any Lender, having its applicable lending office located in, the taxing jurisdiction or (ii) that are Other Connection Taxes, (b)&#160;any branch profits Taxes imposed under Section 884(a) of the Code, or any similar Tax, imposed by any jurisdiction described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, (c) any U.S. federal withholding Tax that is imposed on amounts payable to or for the account of such Lender (other than a Lender that became a Lender pursuant to an assignment under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">) with respect to an applicable interest in a Loan or Commitment pursuant to a Requirement of Law in effect on the date on which such Lender (i) acquires such interest in the applicable Commitment or, if such Lender did not fund the applicable Loan pursuant to a prior Commitment, on the date such Lender acquires its interest in such Loan, or (ii) designates a new lending office, except in each case to the extent that, pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, amounts with respect to such Tax were payable either to such Lender&#8217;s assignor immediately before such Lender acquired the applicable interest in a Loan or Commitment or to such Lender immediately before it designated a new lending office, (d) any Tax imposed as a result of a failure by such Lender to comply with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section&#160;2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> (or, in the case of any payment made to the Administrative Agent for its own account, by the Administrative Agent to comply with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.17(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">), (e) any Taxes imposed under FATCA, and (f) any U.S. federal backup withholding Taxes imposed under Section 3406 of the Code.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Extended Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.23(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Extension</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.23(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Extension Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent (to the extent required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">) and the Borrower executed by each of (a) the Borrower and the Subsidiary Guarantors, (b) the Administrative Agent and (c) each Lender that has accepted the applicable Extension Offer pursuant hereto and in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Extension Offer</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.23(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Facility</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or, except with respect to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Articles 5</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, owned or leased by the Borrower or any of its Restricted Subsidiaries or any of their respective predecessors or Affiliates.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">FATCA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code as of the date of this Agreement (or any amended or successor version described above), and any fiscal or regulatory legislation, rules or official administrative practices adopted pursuant to any intergovernmental agreement (and any related fiscal or regulatory legislation or rules, or official administrative guidance) implementing any of the foregoing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">FCPA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 3.17(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Federal Funds Effective Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, for any day, the rate calculated by the NYFRB based on such day&#8217;s federal funds transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the effective federal funds rate&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that if the Federal Funds Effective Rate as so </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-34-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">determined would be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Fifth Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means that certain Fifth Amendment to Term Loan Credit Agreement, dated as of June 21, 2021, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Fifth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Fifth Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means June 21, 2021.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Finance Lease</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means, as applied to any Person, any lease of any property (whether real, personal, or mixed) by that Person as lessee that, in conformity with GAAP, is, or is required to be, accounted for as a finance lease on the balance sheet of that Person.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Finance Lease Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means, at the time any determination thereof is to be made, the amount of the liability in respect of a Finance Lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) prepared in accordance with GAAP&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt"> that Finance Lease Obligations shall, for the avoidance of doubt, exclude all Non-Finance Lease Obligations.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financial Covenant</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financial Incurrence Test</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Section 1.10(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financial Officer</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means the chief financial officer, the chief accounting officer, treasurer, or any vice president having duties substantially similar to the foregoing, of the Borrower, or such other officer of the Borrower reasonably acceptable to Administrative Agent. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financial Officer Certification</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means, with respect to the financial statements for which such certification is required, the certification of a Financial Officer that such financial statements fairly present, in all material respects, in accordance with GAAP, the consolidated financial condition of the Borrower as at the dates indicated and its consolidated income and cash flows for the periods indicated, subject to changes resulting from audit and normal year-end adjustments. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financing Equity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Excluded Assets.&#8221;</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">Financing SPE Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means any Subsidiary that constitutes a special purpose entity or other similar entity, in each case, formed or acquired to incur, or provide credit support with respect to, any Asset Financing Facility or CRE Financing at such time of formation or acquisition or any time thereafter. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">First Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means that certain First Amendment to Term Loan Credit Agreement, dated as of November 19, 2019, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">First Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means November 19, 2019.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-35-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">First Lien Specified Debt</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means Indebtedness in respect of the (a) 2019 New Term Loans, (b) to the extent incurred in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> of the Incremental Cap, any Incremental Facility or Incremental Equivalent Debt, (c) any other Indebtedness incurred in reliance on the Incremental Cap (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> thereof) that is secured by the Collateral on a pari passu basis with the 2019 New Term Loans, and (d) Refinancing Indebtedness (including Replacement Term Loans and Replacement Notes) and&#47;or other Refinancing Indebtedness or permitted Indebtedness that refinances any of the foregoing that were or are, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">, incurred to refinance any Indebtedness under the Loan Documents or any Incremental Equivalent Debt, in each case, that was secured by the Collateral on a pari passu basis with the 2019 New Term Loans.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Fiscal Quarter</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a fiscal quarter of any Fiscal Year.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Fiscal Year</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the fiscal year of the Borrower ending December&#160;31 of each calendar year.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Fixed Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 1.10(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Flood Hazard Property</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any parcel of any Material Real Estate Asset located in the U.S. in an area designated by the Federal Emergency Management Agency (or any successor agency) as a special flood hazard area.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Flood Insurance Laws</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, collectively, (i) the National Flood Insurance Act of 1968 as now or hereafter in effect or any successor statute thereto, (ii) the Flood Disaster Protection Act of 1973 as now or hereafter in effect or any successor statue thereto, (iii) the National Flood Insurance Reform Act of 1994 as now or hereafter in effect or any successor statute thereto, (iv) the Flood Insurance Reform Act of 2004 as now or hereafter in effect or any successor statute thereto and (v) Biggert-Waters Flood Insurance Reform Act of 2012 as now or hereafter in effect or any successor statute thereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Floor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the benchmark rate floor, if any, provided in this Agreement initially (as of the Sixth Amendment Effective Date, the subsequent modification, amendment or renewal of this Agreement or otherwise) with respect to the Term SOFR Rate, the Adjusted Term SOFR Rate, Daily Simple SOFR or Adjusted Daily Simple SOFR, as applicable. With respect to the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:line-through">-4 Loans, the initial Floor for each of the Term SOFR Rate and Daily Simple SOFR shall be 0.50%. With respect to the Term B</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">-3 Loans, the initial Floor for each of the Adjusted Term SOFR Rate and Adjusted Daily Simple SOFR shall be 0.50%.  With respect to the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:line-through">-5 Loans, the initial Floor for each of the Term SOFR Rate and Daily Simple SOFR shall be 0.50%.  With respect to the Term B</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">-6 Loans, the initial Floor for each of the Term SOFR Rate and Daily Simple SOFR shall be 0.50%.  </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">With respect to the Term B-7 Loans, the initial Floor for each of the Term SOFR Rate and Daily Simple SOFR shall be 0.50%.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Foreign Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Lender that is not a &#8220;United States person&#8221; within the meaning of </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Section&#160;7701(a)(30) of the Code.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Foreign Discretionary Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a Discretionary Guarantor that is organized in a jurisdiction outside of the United States.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Foreign Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Restricted Subsidiary that is not a Domestic Subsidiary.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Foreign Subsidiary Holdco</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Restricted Subsidiary that has, directly or indirectly, no material assets other than the Capital Stock and, if applicable, indebtedness of one or more subsidiaries that are Foreign Subsidiaries or other Foreign Subsidiary Holdcos.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-36-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Fourth Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means that certain Fourth Amendment to Term Loan Credit Agreement, dated as of February 19, 2021, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Fourth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning assigned to such term in the Fourth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Fourth Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means February 19, 2021.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">GAAP</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means generally accepted accounting principles in the U.S. in effect and applicable to the accounting period in respect of which reference to GAAP is made.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Governmental Authority</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means any federal, state, municipal, national or other government, governmental department, commission, board, bureau, court, agency or instrumentality or political subdivision thereof or any entity or officer exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to any government or any court, in each case whether associated with the U.S., a foreign government or any political subdivision thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Governmental Authorization</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means any permit, license, authorization, approval, plan, directive, consent order or consent decree of or from any Governmental Authority.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Granting Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;9.05(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Guarantee</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; of or by any Person (as used in this definition, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221;) means any obligation, contingent or otherwise, of the Guarantor guaranteeing or having the economic effect of guaranteeing any Indebtedness or other monetary obligation of any other Person (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Primary Obligor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221;) in any manner and including any obligation of the Guarantor (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other monetary obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof, (b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness or other monetary obligation of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity of the Primary Obligor so as to enable the Primary Obligor to pay such Indebtedness or other monetary obligation, (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness or monetary obligation, (e) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other monetary obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part) or (f)&#160;secured by any Lien on any assets of such Guarantor securing any Indebtedness or other monetary obligation of any other Person, whether or not such Indebtedness or monetary other obligation is assumed by such Guarantor (or any right, contingent or otherwise, of any holder of such Indebtedness or other monetary obligation to obtain any such Lien)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that the term &#8220;Guarantee&#8221; shall not include endorsements for collection or deposit in the ordinary course of business, or customary and reasonable indemnity obligations in effect on the Closing Date or entered into in connection with any acquisition, Disposition or other transaction permitted under this Agreement (other than such obligations with respect to Indebtedness).  The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined by the guaranteeing Person in good faith.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means any Subsidiary Guarantor.  For the avoidance of doubt, the Borrower may, in its sole discretion, elect to cause one or more Restricted Subsidiaries that are Excluded Subsidiaries to become a Guarantor (any such person, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Discretionary Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221;) by causing such Person to execute a joinder to the Loan Guaranty (in substantially the form attached as an exhibit thereto) and to satisfy the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> and the Collateral and Guarantee Requirement (as if such Person was a newly formed </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-37-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Restricted Subsidiary that is not an Excluded Subsidiary but without regard to the time periods specified therein)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.004em;line-height:12.00pt">i) in the case of any Foreign Discretionary Guarantor, the jurisdiction of such person is reasonably satisfactory to the Administrative Agent and (ii) Administrative Agent shall have received at least two (2) Business Days prior to such Person becoming a Guarantor all documentation and other information in respect of such person required under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations (including the USA PATRIOT Act)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Hazardous Materials</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means any chemical, material, substance or waste, or any constituent thereof, which is prohibited, limited or regulated under any Environmental Law or by any Governmental Authority or which poses a hazard to the Environment or to human health and safety, including, without limitation, petroleum and petroleum by-products, asbestos and asbestos-containing materials, polychlorinated biphenyls, medical waste and pharmaceutical waste.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Hazardous Materials Activity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means any past, current, proposed or threatened activity, event or occurrence involving any Hazardous Material, including the use, manufacture, possession, storage, holding, presence, existence, location, Release, threatened Release, discharge, placement, generation, transportation, processing, construction, treatment, abatement, removal, remediation, disposal, disposition or handling of any Hazardous Material, and any corrective action or response action with respect to any of the foregoing.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Hedge Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means any agreement with respect to any Derivative Transaction between any Loan Party or any Restricted Subsidiary and any other Person.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Hedging Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means, with respect to any Person, the obligations of such Person under any Hedge Agreement. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">IFRS</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means international accounting standards within the meaning of the IAS Regulation 1606&#47;2002, as in effect from time to time (subject to the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Section&#160;1.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">), to the extent applicable to the relevant financial statements.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Immaterial Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">&#8221; means, as of any date, any Restricted Subsidiary of the Borrower, unless the Borrower elects not to treat any such Restricted Subsidiaries as Immaterial Subsidiaries, (a)&#160;the total assets (excluding the amount of operating lease &#8220;right-of-use assets&#8221; under GAAP) of which Restricted Subsidiary as of the last day of the most recently ended Test Period do not exceed 5.0% of Consolidated Total Assets of the Borrower and its Restricted Subsidiaries as of the last day of the most recently ended Test Period and (b) the gross revenues of such Restricted Subsidiary for such Test Period were equal to or greater than 5.0% of the consolidated gross revenues of the Borrower and the Restricted Subsidiaries for such Test Period, in each case under this clause (b), determined in accordance with GAAP&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> that, if at any time and from time to time, the consolidated total assets (excluding the amount of operating lease &#8220;right-of-use assets&#8221; under GAAP), and consolidated gross revenues, of all Restricted Subsidiaries that are not Guarantors solely because they do not meet the thresholds set forth in the preceding clause (a) or (b) above shall exceed 7.5% of Consolidated Total Assets and 7.5% of consolidated gross revenues, respectively, of the Borrower and its Restricted Subsidiaries, in each case, as of or for the last day of the most recently ended Test Period, then the Borrower shall, not later than sixty (60) days after the date by which financial statements for such Fiscal Quarter were required to be delivered pursuant to this Agreement (or such longer period as the Administrative Agent may agree in its reasonable discretion), (i) designate in writing to the Administrative Agent one or more Restricted Subsidiaries as not constituting &#8220;Immaterial Subsidiaries&#8221; to the extent required such that the foregoing condition ceases to be true and (ii) comply with the provisions of Section 5.12 with respect to any such Restricted Subsidiaries (to the extent applicable), in each case, other </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-38-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">than any Restricted Subsidiaries that otherwise constitute Excluded Subsidiaries&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> that, at all times prior to the first delivery of financial statements pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.40pt">, this definition shall be applied based on the consolidated financial statements of the Borrower most recently filed with the SEC.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Immediate Family Member</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means, with respect to any individual, such individual&#8217;s child, stepchild, grandchild or more remote descendant, parent, stepparent, grandparent, spouse, former spouse, domestic partner, former domestic partner, sibling, mother-in-law, father-in-law, son-in-law and daughter-in-law (including adoptive relationships), any trust, partnership or other bona fide estate-planning vehicle the only beneficiaries of which are any of the foregoing individuals, such individual&#8217;s estate (or an executor or administrator acting on its behalf), heirs or legatees or any private foundation or fund that is controlled by any of the foregoing individuals or any donor-advised fund of which any such individual is the donor.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Incremental Cap</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221; means&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(a)&#160;&#160;&#160;&#160;the Base Incremental Amount, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">plus</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(b)&#160;&#160;&#160;&#160;in the case of any Incremental Facility or Incremental Equivalent Debt that (x) effectively extends the Maturity Date with respect to, or effects a repricing of, any Class of Loans hereunder or any other First Lien Specified Debt, an amount equal to the portion of the relevant Class of Loans or such other First Lien Specified Debt that will be replaced or repriced by such Incremental Facility or Incremental Equivalent Debt, that, to the extent secured, is secured by the Collateral with the same priority as the Class of Loans or such other First Lien Specified Debt so extended or repriced or (y) effectively replaces any Loans hereunder or any other First Lien Specified Debt pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Section 2.19(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> hereof (or any analogous provisions in any applicable other First Lien Specified Debt), an amount equal to the portion of the relevant Class of Loans or such other First Lien Specified Debt replaced by such Incremental Facility or Incremental Equivalent Debt, that, to the extent secured, is secured by the Collateral with the same priority as the Class of Loans or such other First Lien Specified Debt so replaced, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">plus  </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(c)&#160;&#160;&#160;&#160;without duplication of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> above, the amount of any optional or voluntary Prepayment (including in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Section 2.11(a))</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> of any First Lien Specified Debt&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> that the relevant optional or voluntary Prepayment was not funded with the proceeds of any long-term Indebtedness (other than revolving Indebtedness), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> the aggregate principal amount of all Incremental Facilities and&#47;or Incremental Equivalent Debt incurred or issued in reliance on this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, in each case after giving effect to any reclassification of such Incremental Facilities and&#47;or Incremental Equivalent Debt, as incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> below (this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, together with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt"> above, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Non-Ratio Based Incremental Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221;), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">plus</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">(d)&#160;&#160;&#160;&#160;an unlimited amount so long as, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, after giving effect to the relevant Incremental Facility, (i) if such Incremental Facility is secured by a Lien on the Collateral that is pari passu with the Lien securing the Secured Obligations that are secured on a first lien basis, the Senior Debt to Total Assets Ratio does not exceed the greater of (A) 80.0% or (B) if such Incremental Facility is incurred in connection with any Permitted Acquisition or other Investment not prohibited by the Loan Documents, the Senior Debt to Total Assets Ratio immediately prior to the incurrence of such Incremental Facility, or (ii) if such Incremental Facility is unsecured or secured by a Lien on the Collateral that is junior to the Lien securing the Secured Obligations that are secured on a first lien basis, the Total Debt to Total Assets Ratio does not exceed the greater of (A) 82.0% or (B) if such Incremental Facility is incurred in connection with any Permitted Acquisition or other Investment not </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-39-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">prohibited by the Loan Documents, the Total Debt to Total Assets Ratio immediately prior to the incurrence of such Incremental Facility, in each case described in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, calculated on a Pro Forma Basis including all pro forma adjustments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Section 1.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, including the application of the proceeds thereof (this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt;text-decoration:underline">Ratio Based Incremental Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.80pt">&#8221;)&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that&#58; </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(i) Incremental Facilities and Incremental Equivalent Debt may be incurred or implemented under one or more of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> of this definition as selected by the Borrower in its sole discretion, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> that unless the Borrower elects otherwise, each Incremental Facility or Incremental Equivalent Debt will be deemed incurred first under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> to the maximum extent permitted thereunder,</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(ii) if Incremental Facilities or Incremental Equivalent Debt are intended to be incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> of this definition and one or more other clause of this definition in a single transaction or series of related transactions, (A) the permissibility of the portion of such Incremental Facilities or Incremental Equivalent Debt to be incurred or implemented under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> of this definition will be determined without giving effect to any Incremental Facilities or Incremental Equivalent Debt to be incurred or implemented in reliance on each other clause of this definition, but giving full </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:14.00pt">pro forma</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> effect to the use of proceeds of the entire amount of all such Incremental Facilities or Incremental Equivalent Debt that will be incurred or implemented at such time in reliance on each other clause of this definition and the related transactions, and (B) thereafter, the permissibility of the portion of the Incremental Facilities or Incremental Equivalent Debt to be incurred or implemented, as applicable, under the other applicable provisions of this definition will be determined, and</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(iii) any portion of Incremental Facilities or Incremental Equivalent Debt incurred or implemented in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> of this definition will, unless the 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Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Incremental Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means any commitment made by a lender to provide all or any portion of any Incremental Facility or Incremental Term Loan. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Incremental Equivalent Debt</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:7.8pt;font-weight:400;line-height:14.00pt;position:relative;top:-4.2pt;vertical-align:baseline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> means Indebtedness in the form of senior secured, junior secured or unsecured Indebtedness, whether in the form of term or revolving loans, notes, debt securities or otherwise and&#47;or commitments in respect of any of the foregoing, (in each case in respect of the issuance of notes, whether issued in a public offering, Rule 144A or other private placement or purchase or otherwise) or any bridge financing in lieu of the foregoing, or secured or unsecured &#8220;mezzanine&#8221; debt, issued, incurred or implemented in lieu of loans under an Incremental Facility or to refinance other Indebtedness incurred under the Loan Documents&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> that&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(a)&#160;&#160;&#160;&#160;the aggregate principal amount thereof shall not exceed the Incremental Cap (as in effect at the time of determination, including giving effect to any reclassification on or prior to such date of determination),</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(b)&#160;&#160;&#160;&#160; subject to the 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Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> Loans or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> Loans (without giving effect to any prepayments thereof) on the date of incurrence of such Incremental Equivalent Debt,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(c)&#160;&#160;&#160;&#160;subject to the Permitted Earlier Maturity Indebtedness Exception, the final maturity date with respect to such Incremental Equivalent Debt (other than customary bridge loans with a maturity date not longer than one year that are exchangeable or convertible into, or are intended to be refinanced, with other debt instruments permitted hereunder&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, that any loans, notes, securities or other Indebtedness which are exchanged for or otherwise replace such bridge loans shall be subject to the requirements of this 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Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, to the extent constituting term indebtedness, such Incremental Equivalent Debt may otherwise have an amortization schedule as determined by the Borrower and the lenders providing such Incremental Equivalent Debt,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(e)&#160;&#160;&#160;&#160;in the case of Incremental Equivalent Debt incurred on any date after the Eleventh Amendment Effective Date that is on or prior to the day that is 12 months after the Tenth Amendment Effective Date in an aggregate principal amount, together with any Incremental Term Loans incurred during such period that satisfy the MFN Conditions, in excess of the MFN Threshold that satisfies each of the MFN Conditions, the Effective Yield of the Term B-6 Loans shall be subject to the adjustment in the manner set forth in the MFN Protection (to the extent then applicable), determined for purposes of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">clause (e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> as if such Incremental Equivalent Debt were Incremental Term Loans, </font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(f)&#160;&#160;&#160;&#160;any such Incremental Equivalent Debt (x) shall rank pari passu in right of payment with any then-existing tranche of Term Loans or be subordinated in right of payment thereto and (y) may rank pari passu with or junior to any then-existing tranche of Term Loans, as applicable, in right of security with respect to the Collateral or may be unsecured,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(g)&#160;&#160;&#160;&#160;if such Incremental Equivalent Debt is (a) secured by a Lien on the Collateral, then such Incremental Equivalent Debt shall be subject to any applicable Acceptable Intercreditor Agreement or (b) unsecured and contractually subordinated to the Obligations with respect to right of payment, then such Incremental Equivalent Debt shall be subject to a subordination agreement or subordination provision reasonably acceptable to the Borrower,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(h)&#160;&#160;&#160;&#160;no such Indebtedness may be (x) incurred or guaranteed by any Person that is not a Loan Party or (y) secured by any assets other than the Collateral, and</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(i)&#160;&#160;&#160;&#160;any conditions to availability or funding of any Incremental Equivalent Debt (or commitments with respect to any such Incremental Equivalent Debt), subject to any requirements or limitations set forth above (and subject to the Borrower&#8217;s right to make an LCT Election), will be determined by the lenders or holders providing such Incremental Equivalent Debt.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Incremental Facilities</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-41-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Facility Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent (solely for purposes of giving effect to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">) and the Borrower executed by each of (a) the Borrower, (b) the Administrative Agent and (c) each Lender that agrees to provide all or any portion of the Incremental Facility being incurred pursuant thereto and in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">B-3 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term B-3 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term B-3 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">B-4 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Seventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term B-4 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Seventh Amendment.   </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term B-4 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in the Seventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New 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the meaning assigned to such term in the Eleventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">&#8220;Incremental Term</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">B-7 Lender&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">&#8220;Incremental Term</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.70pt;text-decoration:underline"> </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">B-7 Loan Commitment&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">&#8220;Incremental Term B-7 Loans&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Incremental Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Section 2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt;text-decoration:underline">Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">&#8221; shall mean, with respect to any Person, without duplication,</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(i)&#160;&#160;&#160;&#160;obligations created, issued or incurred by such Person for borrowed money (whether by loan, the issuance and sale of debt securities or the sale of property to another Person subject to an understanding or agreement, contingent or otherwise, to repurchase such property from such Person),</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">(ii)&#160;&#160;&#160;&#160;obligations of such Person to pay the deferred purchase or acquisition price of property or services (other than (x) trade accounts payable (other than for borrowed money) arising, and accrued expenses incurred, in the ordinary course of business so long as such trade accounts payable are payable within 90 days of the date the respective goods are delivered or the respective services are rendered and (y) </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-42-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.70pt">obligations with respect to earn-outs and similar deferred or contingency compensation arrangements that are not due and payable at such time), </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(iii)&#160;&#160;&#160;&#160;Indebtedness of others secured by a Lien on the property of such Person, whether or not the respective Indebtedness so secured has been assumed by such Person,</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(iv)&#160;&#160;&#160;&#160;obligations (contingent or otherwise) of such Person in respect of letters of credit or similar instruments issued or accepted by banks and other financial institutions for the account of such Person, </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(v)&#160;&#160;&#160;&#160;Finance Lease Obligations of such person to the extent required to be characterized as a capitalized or financing lease (but not, for the avoidance of doubt, an operating lease) under GAAP, and </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(vi)&#160;&#160;&#160;&#160;obligations of such Person under repurchase agreements or like arrangements and </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(vii) Indebtedness of others Guaranteed by such Person to the extent of such Guarantee&#59; </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> that, notwithstanding the foregoing, (a) in no event shall obligations under any Derivative Transaction be deemed &#8220;Indebtedness&#8221; for any calculation of the Senior Debt to Total Assets Ratio or the Total Debt to Total Assets Ratio or any other financial ratio under the Loan Documents, (b) the amount of Indebtedness of any Person for purposes of clause (iii) shall be deemed to be equal to the lesser of (A) the aggregate unpaid amount of such Indebtedness and (B) the fair market value of the property encumbered thereby as determined by such Person in good faith, (c) Indebtedness of the Borrower and its Restricted Subsidiaries shall exclude intercompany Indebtedness so long as such intercompany Indebtedness (A) has a term not exceeding 364 days (inclusive of any roll-over or extensions of terms) and (B) of any Loan Party owed to any Restricted Subsidiary that is not a Loan Party is unsecured and subordinated to the Obligations and subject to the Intercompany Note, (d) in no event shall any Non-Finance Lease Obligations be deemed &#8220;Indebtedness&#8221; for any purpose under the Loan Documents, (e) in no event shall any Non-Recourse Indebtedness owing pursuant to a securitization transaction such as a &#8220;REMIC&#8221; securitization, a collateralized loan obligation transaction or other similar securitization be deemed &#8220;Indebtedness&#8221; for any purpose under the Loan Documents and (f) for, the avoidance of doubt, in no event shall any funding obligations or commitments, or guarantees of funding obligations or commitments, under any CRE Finance Assets be deemed &#8220;Indebtedness&#8221; for any purpose under the Loan Documents</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any third person (including any partnership in which such Person is a general partner and any unincorporated joint venture in which such Person is a joint venture) to the extent such Person would be liable therefor under applicable Requirements of Law or any agreement or instrument by virtue of such Person&#8217;s ownership interest in such Person, except to the extent the terms of such Indebtedness provides that such Person is not liable therefor. Notwithstanding anything herein to the contrary, the term &#8220;Indebtedness&#8221; shall not include, and shall be calculated without giving effect to, (x) the effects of Accounting Standards Codification Topic 815 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose hereunder as a result of accounting for any embedded derivatives created by the terms of such Indebtedness (it being understood that any such amounts that would have constituted Indebtedness hereunder but for the application of this proviso shall not be deemed an incurrence of Indebtedness hereunder) and (y) the effects of Statement of Financial Accounting Standards No. 133 and related interpretations to the extent such effects would otherwise increase or decrease an amount of </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-43-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">Indebtedness for any purpose under this Agreement as a result of accounting for any embedded derivative created by the terms of such Indebtedness (it being understood that any such amounts that would have constituted Indebtedness under this Agreement but for the application of this sentence shall not be deemed to be an incurrence of Indebtedness under this Agreement).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">For the avoidance of doubt, Indebtedness will not be deemed to include obligations incurred in advance of, and the proceeds of which are to be applied in connection with, the consummation of a transaction solely to the extent that the proceeds thereof are and continue to be held in an escrow, trust, collateral or similar account or arrangement and are not otherwise made available for any other purpose and are used for such purpose.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Indemnified Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; means all Taxes, other than Excluded Taxes or Other Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Indemnitee</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;9.03(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Information</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 3.11(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Information Memorandum</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Confidential Information Memorandum dated on or about April 2019 relating to the Borrower and its subsidiaries and the Transactions.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Arrangers, the Affiliates of the Arrangers and the other financial institutions that are party to this Agreement as Lenders on the Closing Date.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term B-2 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to the term &#8220;Term B-2 Lender&#8221;  in the Second Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term B-2 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to the term &#8220;Term B-2 Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Commitment&#8221;  in the Second Amendment. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term B-2 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to the term &#8220;Term B-2 Loans&#8221;  in the Second Amendment. </font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Initial Term B-4 Loan Commitments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; has the meaning assigned to the term &#8220;Term B-4 Loan Commitments&#8221; in the Sixth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term B-4 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to the term &#8220;Term B-4 Loans&#8221; in the Sixth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means any Lender with an Initial Term Loan Commitment or an </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">outstanding Initial Term Loan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means, with respect to each Term Lender, the commitment of such Term Lender to make Initial Term Loans hereunder in an aggregate amount not to exceed the amount set forth opposite such Term Lender&#8217;s name on the Commitment Schedule, as the same may be (a) terminated pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 2.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> and (b) reduced or increased from time to time pursuant to (i) assignments by or to such Term Lender pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> or (ii) increased from time to time pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  The aggregate amount of the Term Lenders&#8217; Initial Term Loan Commitments on the Closing Date is $500,000,000.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Initial Term Loan Maturity Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means April 23, 2026.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-44-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Initial Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means the term loans made by the Initial Term Lenders to the Borrower pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.01(a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Intellectual Property</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the Collateral Documents.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Intellectual Property Security Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means any agreement executed on the Closing Date confirming or effecting the grant of any Lien on IP Rights owned by any Loan Party to the Administrative Agent, for the benefit of the Secured Parties, in accordance with this Agreement and the Security Agreement, including an Intellectual Property Security Agreement substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Exhibit&#160;C-1</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> hereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Intellectual Property Security Agreement Supplement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means any agreement executed after the Closing Date confirming or effecting the grant of any Lien on IP Rights owned by any Loan Party to the Administrative Agent, for the benefit of the Secured Parties, in accordance with this Agreement and the Security Agreement, including an Intellectual Property Security Agreement Supplement substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Exhibit C-2</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> hereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Intercompany Note</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means a promissory note substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Exhibit&#160;F</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Interest Election Request</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means a request by the Borrower in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Exhibit&#160;H</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> hereto or another form reasonably acceptable to the Administrative Agent to convert or continue a Borrowing in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Interest Payment Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means (a) with respect to any ABR Loan, the last Business Day of each March, June, September and December and the maturity date applicable to such Loan, (b) with respect to any Term Benchmark Loan, the last day of each Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Term Benchmark Borrowing with an Interest Period of more than three months&#8217; duration, each day prior to the last day of such Interest Period that occurs at intervals of three months&#8217; duration after the first day of such Interest Period, and the Maturity Date, and (c) with respect to any RFR Loan, (1) the date that is the numerically corresponding day in the calendar month after the Borrowing of such Loan and the numerically corresponding day in each calendar month thereafter (or, in each case, if there is no such numerically corresponding day in such month, then the last day of such month) and (2) the Maturity Date.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Interest Period</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means with respect to any Term Benchmark Borrowing, the period commencing on the date of such Borrowing and ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter, subject to the availability for the Benchmark applicable to the relevant Loan or Commitment), as the Borrower may elect&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that (i) if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (ii) any Interest Period that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period and (iii) no tenor that has been removed from this definition pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.14(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall be available for specification in any Borrowing Request or Interest Election Request. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-45-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Investment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means (a) any purchase or other acquisition by the Borrower or any of its Restricted Subsidiaries of any of the Securities of any other Person (other than any Loan Party), (b) the acquisition by purchase or otherwise (other than any purchase or other acquisition of inventory, materials, supplies and&#47;or equipment in the ordinary course of business) of all or a substantial portion of the business, property or fixed assets of any other Person or any division or line of business or other business unit of any other Person and (c) any loan, advance (other than any advance to any current or former employee, officer, director, member of management, manager, consultant or independent contractor of the Borrower or any Restricted Subsidiary for moving, entertainment and travel expenses, drawing accounts and similar expenditures in the ordinary course of business) or capital contribution by the Borrower or any of its Restricted Subsidiaries to any other Person (but, in all cases, excluding, in the case of the Borrower and its Restricted Subsidiaries, intercompany loans, advances or Indebtedness so long as such Indebtedness (i) has a term not exceeding 364 days (inclusive of any roll over or extensions of terms) and (ii) of any Loan Party owed to a Restricted Subsidiary that is not a Loan Party is unsecured and subordinated to the Secured Obligations and subject to the Intercompany Note).  Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;5.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, the amount of any Investment shall be the original cost of such Investment, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> the cost of any addition thereto that otherwise constitutes an Investment, without any adjustments for increases or decreases in value, or write-ups, write-downs or write-offs with respect thereto, but giving effect to any repayments of principal in the case of any Investment in the form of a loan and any return of capital or return on Investment in the case of any equity Investment (whether as a distribution, dividend, redemption or sale but not in excess of the amount of the relevant initial Investment).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">IP Rights</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;3.05(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">IRS</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means the U.S. Internal Revenue Service.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">JPMCB</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning assigned to such term in the preamble to this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Junior Debt</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means any Indebtedness of the types described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">clauses (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> of the definition of &#8220;Indebtedness&#8221; (other than Indebtedness among the Borrower and&#47;or its Restricted Subsidiaries) of the Borrower or any of its Restricted Subsidiaries that is contractually subordinated in right of payment to the Obligations, in each case, with an individual outstanding principal amount in excess of the Threshold Amount. For the avoidance of doubt, each Asset Financing Facility and CRE Financing shall not constitute Junior Debt.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Knowledge</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">knowledge</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means, as of any date of determination, then-current actual (as distinguished from imputed or constructive) knowledge.  For the avoidance of doubt, &#8220;know&#8221;, &#8220;known&#8221; and &#8220;knew&#8221; shall have the respective correlative meaning thereto.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Latest Maturity Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means, as of any date of determination, the latest maturity or expiration date applicable to any Loan or Commitment hereunder at such time, including the latest maturity or expiration date of any Term Loan or Term Commitment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">LCT Election</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 1.10(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">LCT Requirements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 1.10(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">LCT Test Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 1.10(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Legal Reservations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the application of relevant Debtor Relief Laws, general principles of equity and&#47;or principles of good faith and fair dealing.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-46-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Term Lenders, any lender with an Additional Commitment or an outstanding Additional Term Loan and any other Person that becomes a party hereto pursuant to an Assignment and Assumption, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Lien</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever (including any conditional sale or other title retention agreement and any Finance Lease having substantially the same economic effect as any of the foregoing), in each case, in the nature of security&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> that in no event shall (x) an operating lease (or other lease in respect of a Non-Finance Lease Obligation) or a license to use intellectual property be deemed to constitute a Lien or (y) for the avoidance of doubt, any right of first refusal and tag, drag, forced sale, major decision or similar right in respect of any CRE Finance Asset or Real Estate Investment constitute a Lien.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Limited Condition Transaction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any (a) Permitted Acquisition or other Investment or similar transaction (whether by merger, amalgamation, consolidation or other business combination or the acquisition of Capital Stock or otherwise) permitted hereunder by the Borrower or one or more of its Restricted Subsidiaries, (b) any redemption, repurchase, defeasance, satisfaction and discharge, repayment or other retirement of Indebtedness and (c) any Restricted Payment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">LLC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Person that is a limited liability company under the laws of its jurisdiction of formation.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Term Loan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loan Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means this Agreement, any Promissory Note, each Loan Guaranty, the Collateral Documents, the Perfection Certificate (including any Perfection Certificate delivered to the Administrative Agent pursuant to the definition of &#8220;Collateral and Guarantee Requirement&#8221;), any Perfection Certificate Supplement, any Acceptable Intercreditor Agreement to which the Borrower is a party, each Refinancing Amendment, each Incremental Facility Amendment, each Extension Amendment and any other document or instrument designated by the Borrower and the Administrative Agent as a &#8220;Loan Document.&#8221; Any reference in this Agreement or any other Loan Document to a Loan Document shall include all appendices, exhibits or schedules thereto. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loan Guaranty</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Guaranty Agreement, substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit I</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> hereto, executed by each Loan Party thereto and the Administrative Agent for the benefit of the Secured Parties, as supplemented in accordance with the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section&#160;5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> hereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loan Installment Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 2.10(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Loan Parties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Borrower and each Guarantor.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Manager</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means BXMT Advisors L.L.C. (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">BX Advisors</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;) (or any successor thereto) or, to the extent the board of directors of the Borrower appoints another investment manager of the Borrower at any time and from time to time, such other investment manager appointed thereby.  Notwithstanding anything to the contrary set forth herein, (i) each reference to &#8220;Manager&#8221; set forth in clause (b) of the definition of Core Earnings, the last paragraph of the definition of Disqualified Stock, Section 6.04(a)(ii) and Section 6.06(z) shall, as applicable, also be deemed to include any previous investment manager of the Borrower (each, a </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-47-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Predecessor Manger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221;) with respect to any Capital Stock, compensation or deferred compensation granted or provided to any applicable Person set forth in such applicable clause, or any arrangement or agreement entered into with respect to any applicable item referenced in such clause, while such Predecessor Manager was acting as the Manager of the Borrower and (ii) each reference to &#8220;Manager&#8221; set forth in Section 6.09(f)(i) shall include any Predecessor Manager (provided that any fees paid to a Predecessor Manager pursuant to Section 6.09(f)(i) shall have accrued or been granted while such Person was acting as the Manager of the Borrower).</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"><br>&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Margin Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning assigned to such term in Regulation U.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Material Adverse Effect</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means a material adverse effect on (i) the business, assets, financial condition or results of operations, in each case, of the Borrower and its Restricted Subsidiaries, taken as a whole, (ii) the rights and remedies (taken as a whole) of the Administrative Agent under the applicable Loan Documents or (iii) the ability of the Loan Parties (taken as a whole) to perform their payment obligations under the applicable Loan Documents.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Material Debt Instrument</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means any physical instrument evidencing any Indebtedness for borrowed money which is required to be pledged and delivered to the Administrative Agent (or its agent or bailee) pursuant to the Security Agreement or any applicable Acceptable Intercreditor Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Material Real Estate Asset</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means (a) on the Closing Date, each Real Estate Asset listed on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Schedule 1.01(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and (b) any &#8220;fee-owned&#8221; Real Estate Asset acquired by any Loan Party after the Closing Date having a fair market value (as reasonably determined by the Borrower in consultation with the Administrative Agent after taking into account any liabilities with respect thereto that impact such fair market value) in excess of $20,000,000 as of the date of acquisition thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Maturity Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means (a) with respect to the 2019 Replacement Term Loans, the 2019 Incremental Term Loans, the Additional 2019 New Term Loans, the Replacement Term B-3 Loans and the Incremental Term B-3 Loans, the Initial Term Loan Maturity Date, (b) </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">with respect to the Term B-4 Loans, May 9, 2029, (c) with respect to the Term B-5 Loans, December 10, 2028,</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">&#91;reserved&#93;, (c) &#91;reserved&#93;,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> (d) with respect to the Replacement Term B-6 Loans and Incremental Term B-6 Loans, December 10, 2030, (e) with respect to any Replacement Term </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">B-7 </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Loans </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">and Incremental Term B-7 Loans, May 9, 2029, (f) with respect to any Replacement Term Loans </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(other than the 2019 Replacement Term Loans, the Replacement Term B-3 Loans, the </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Replacement </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans and the Replacement Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans), the final maturity date for such Replacement Term Loans, as set forth in the applicable Refinancing Amendment, (</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">f</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">g</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">) with respect to any Incremental Term Loans (other than the 2019 Incremental Term Loans, the Additional 2019 New Term Loans, the Incremental Term B-3 Loans, the </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">Term B-4 Loans and the </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Incremental Term B-6 Loans</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline"> and the Incremental Term B-7 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">), the final maturity date set forth in the applicable Incremental Facility Amendment and (</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">g</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">h</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">) with respect to any Extended Term Loans, the final maturity date for such Extended Term Loans as set forth in the applicable Extension Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Maximum Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;9.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Conditions</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.22(a)(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Protection</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.22(a)(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Threshold</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.22(a)(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Minimum Extension Condition</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.23(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-48-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Moody&#8217;s</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means Moody&#8217;s Investors Service, Inc.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Mortgage</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means any mortgage, deed of trust or other agreement which conveys or evidences a Lien in favor of the Administrative Agent, for the benefit of the relevant Secured Parties, on any Material Real Estate Asset constituting Collateral, which shall contain such terms as may be necessary under applicable local Requirements of Law to perfect a Lien on the applicable Material Real Estate Asset.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Mortgage Policies</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Collateral and Guarantee Requirement.&#8221;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Multiemployer Plan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means any employee benefit plan which is a &#8220;multiemployer plan&#8221; as defined in Section&#160;3(37) of ERISA that is subject to the provisions of Title IV of ERISA, and in respect of which the Borrower or any of its Restricted Subsidiaries, or any of their respective ERISA Affiliates, makes or is obligated to make contributions or with respect to which any of them has any ongoing obligation or liability, contingent or otherwise.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Net Insurance&#47;Condemnation Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means an amount equal to&#58; (a) any Cash payments or proceeds (including Cash Equivalents) received by the Borrower or any of its Restricted Subsidiaries (i)&#160;under any casualty insurance policy in respect of a covered loss thereunder of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, assets acquired after the Closing Date with the proceeds of equity contributions to, or the issuance of Qualified Capital Stock of, the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary) or (ii)&#160;as a result of the taking of any assets of the Borrower or any of its Restricted Subsidiaries (other than, for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, assets acquired after the Closing Date with the proceeds of equity contributions or the issuance of Qualified Capital Stock of the Borrower or its Restricted Subsidiaries (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary)) by any Person pursuant to the power of eminent domain, condemnation or otherwise, or pursuant to a sale of any such assets to a purchaser with such power under threat of such a taking, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> (b) (i) any actual out-of-pocket costs and expenses incurred by the Borrower or any of its Restricted Subsidiaries in connection with the adjustment, settlement or collection of any claims of the Borrower or the relevant Restricted Subsidiary in respect thereof, (ii) payment of the outstanding principal amount of, premium or penalty, if any, and interest and other amounts on any Indebtedness (other than the Loans and any Indebtedness secured by a Lien on the Collateral that is </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) that is secured by a Lien on the assets in question and that is required to be repaid or otherwise comes due or would be in default under the terms thereof as a result of such loss, taking or sale, or payment of other amounts due to, or required to be made available to, any Person under any other Contractual Obligation binding such assets or to which such assets are subject (including, without limitation, in the case of Real Estate Assets, any ground lease, lease or other occupancy agreement) (iii) in the case of a taking, the reasonable out-of-pocket costs of putting any affected property in a safe and secure position, (iv) any selling costs and out-of-pocket expenses (including reasonable broker&#8217;s fees or commissions, legal fees, accountants&#8217; fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith and the Borrower&#8217;s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing arrangements or any intercompany distribution)) in connection with any sale or taking of such assets as described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> of this definition, (v) any amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustments associated with any sale or taking of such assets as referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> of this </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-49-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">definition (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Insurance&#47;Condemnation Proceeds) and (vi) in the case of any covered loss or taking from a non-Wholly-Owned Subsidiary, the pro rata portion thereof (calculated without regard to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">) attributable to minority interests and not available for distribution to or for the account of the Borrower or a Wholly-Owned Subsidiary as a result thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Net Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; means (a) with respect to any Disposition (including any Prepayment Asset Sale), the Cash proceeds (including Cash Equivalents and Cash proceeds subsequently received (as and when received) in respect of non-cash consideration initially received), net of (i) selling costs and out-of-pocket expenses (including reasonable broker&#8217;s fees or commissions, legal fees, accountants&#8217; fees, investment banking fees, survey costs, title insurance premiums, and related search and recording charges, transfer taxes, deed or mortgage recording taxes, escrow costs and fees, other customary expenses and brokerage, consultant and other customary fees actually incurred in connection therewith and the Borrower&#8217;s good faith estimate of income Taxes paid or payable (including pursuant to Tax sharing arrangements or any intercompany distributions) in connection with such Disposition), (ii) amounts provided as a reserve in accordance with GAAP against any liabilities under any indemnification obligation or purchase price adjustment associated with such Disposition (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt"> that to the extent and at the time any such amounts are released from such reserve, such amounts shall constitute Net Proceeds), (iii) the principal amount, premium or penalty, if any, interest and other amounts on any Indebtedness (other than the Loans and any other Indebtedness secured by a Lien on the Collateral that is </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.30pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt"> with or expressly subordinated to the Lien on the Collateral securing any Secured Obligation) which is secured by the asset sold in such Disposition and which is required to be repaid or otherwise comes due or would be in default and is repaid (other than any such Indebtedness that is assumed by the purchaser of such asset) (including, without limitation, any Asset Financing Facility or CRE Financing), (iv)&#160;Cash escrows (until released from escrow to the Borrower or any of its Restricted Subsidiaries) from the sale price for such Disposition and (v) in the case of any Disposition by a non-Wholly-Owned Subsidiary, the pro rata portion of the Net Proceeds thereof (calculated without regard to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">clause (v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">) attributable to minority interests and not available for distribution to or for the account of the Borrower or a Wholly-Owned Subsidiary as a result thereof&#59; and (b) with respect to any issuance or incurrence of Indebtedness or Capital Stock, the Cash proceeds thereof, net of all Taxes and customary fees, commissions, costs, underwriting discounts and other fees and expenses incurred in connection therewith.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Net Proceeds Percentage</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Non-Finance Lease</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; means, as applied to any Person, any lease of any property (whether real, personal or mixed) by that Person as lessee that is not required to be accounted for as a finance lease or capital lease on the balance sheet and the income statement in accordance with GAAP as in effect at any time of determination. For the avoidance of doubt, any lease pursuant to which a Person recognizes lease expense on a straight-line basis over the lease term and any operating lease shall be considered a Non-Finance Lease.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Non-Finance Lease Obligation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; means a lease obligation pursuant to any Non-Finance Lease.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Non-Fixed Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Section 1.10(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">Non-Recourse Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; means any Indebtedness other than Recourse Indebtedness.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt;text-decoration:underline">NYFRB</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.30pt">&#8221; means the Federal Reserve Bank of New York. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">NYFRB Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and (b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-50-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Day, for the immediately preceding Business Day)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that if none of such rates are published for any day that is a Business Day, the term &#8220;NYFRB Rate&#8221; means the rate for a federal funds transaction quoted at 11&#58;00 a.m. on such day received by the Administrative Agent from a federal funds broker of recognized standing selected by it&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that if any of the aforesaid rates as so determined be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means all unpaid principal of and accrued and unpaid interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar case or proceeding, regardless of whether allowed or allowable in such case or proceeding) on the Loans, all accrued and unpaid fees and all expenses (including fees and expenses accruing during the pendency of any bankruptcy, insolvency, receivership or other similar case or proceeding, regardless of whether allowed or allowable in such case or proceeding), reimbursements, indemnities and all other advances to, debts, liabilities and obligations of any Loan Party to the Lenders or to any Lender, the Administrative Agent, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">, any Twelfth Amendment Arranger,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or any Indemnitee arising under the Loan Documents in respect of any Loan or otherwise, whether direct or indirect (including those acquired by assumption), absolute, contingent, due or to become due, now existing or hereafter arising.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Overnight Bank Funding Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means, for any day, the rate comprised of both overnight federal funds and overnight Eurodollar borrowings by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as an overnight bank funding rate.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">OFAC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means the Office of Foreign Assets Control of the U.S. Treasury Department.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Organizational Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means (a) with respect to any corporation, its certificate or articles of incorporation or organization and its by-laws, (b) with respect to any limited partnership, its certificate of limited partnership and its partnership agreement, (c) with respect to any general partnership, its partnership agreement, (d) with respect to any limited liability company, its articles of organization or certificate of formation, and its operating agreement or limited liability company agreement, and (e) with respect to any other form of entity, such other organizational documents required by local Requirements of Law or customary under such jurisdiction to document the formation and governance principles of such type of entity.  In the event that any term or condition of this Agreement or any other Loan Document requires any Organizational Document to be certified by a secretary of state or similar governmental official, the reference to any such &#8220;Organizational Document&#8221; shall only be to a document of a type customarily certified by such governmental official.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Other Applicable Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Other Connection Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means, with respect to any Lender or the Administrative Agent, Taxes imposed as a result of a present or former connection between such recipient and the jurisdiction imposing such Tax (other than connections arising solely from such recipient having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, or engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Other Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221; means all present or future stamp, court or documentary Taxes or any intangible, recording, filing or other excise or property Taxes arising from any payment made under any Loan </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-51-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document, but excluding any such Taxes that are Other Connection Taxes imposed with respect to an assignment, grant of a participation or designation of a new office for receiving payments by or on account of the Borrower (other than an assignment or designation of a new office made pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.19(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Participant</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;9.05(c)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Participant Register</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.05(c)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Patent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the following&#58;  (a) any and all patents and patent applications&#59; (b) all inventions, designs or improvements thereto described or claimed therein&#59; (c) all reissues, reexaminations, divisions, continuations, renewals, extensions and continuations in part thereof&#59; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof&#59; (e) all rights to sue for past, present, and future infringements thereof&#59; and (f) all rights corresponding to any of the foregoing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">PBGC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Pension Benefit Guaranty Corporation.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Pension Plan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any employee pension benefit plan, as defined in Section 3(2) of ERISA (other than a Multiemployer Plan), that is subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, which the Borrower or any of its Restricted Subsidiaries, or any of their respective ERISA Affiliates, maintains or contributes to or has an obligation to contribute to, or otherwise has any liability, contingent or otherwise.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Perfection Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit J</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Perfection Certificate Supplement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a supplement to the Perfection Certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit K</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Perfection Requirements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the filing of appropriate financing statements with the office of the Secretary of State or other appropriate office of the state of organization (or, in the case of a Foreign Discretionary Guarantor, other office under Section 9-307 of the UCC) of each Loan Party, the filing of appropriate assignments, security agreements, instruments or notices with the U.S. Patent and Trademark Office and the U.S. Copyright Office, the proper recording or filing, as applicable, of Mortgages and fixture filings with respect to any Material Real Estate Asset constituting Collateral, in each case in favor of the Administrative Agent for the benefit of the Secured Parties and to the extent required by the applicable Loan Documents, in each case, the delivery to the Administrative Agent of any stock certificate, promissory note and instruments required to be delivered pursuant to the applicable Loan Documents, together with instruments of transfer executed in blank and, in the case of any Foreign Discretionary Guarantor (and its Capital Stock), such steps required to grant the Administrative Agent a first priority perfected lien on its Capital Stock and substantially all of its assets pursuant to arrangements reasonably agreed between the Administrative Agent and the Borrower.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Permitted Acquisition</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any acquisition made by the Borrower or any of its Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or any business line, unit or division or product line (including research and development and related assets in respect of any product) of, any Person or of a majority of the outstanding Capital Stock of any Person (and, in any event, including any Investment in (x)&#160;any Restricted Subsidiary the effect of which is to increase the Borrower&#8217;s or any Restricted Subsidiary&#8217;s equity ownership in such Restricted Subsidiary or (y) any joint </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-52-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">venture for the purpose of increasing the Borrower&#8217;s or its relevant Restricted Subsidiary&#8217;s ownership interest in such joint venture) if (A) such Person becomes a Restricted Subsidiary or (B) such Person, in one transaction or a series of related transaction, is amalgamated, merged or consolidated with or into, or transfers or conveys substantially all of its assets (or such division, business unit or product line) to, or is liquidated into, the Borrower or any Restricted Subsidiary as a result of such Investment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Permitted Earlier Maturity Indebtedness Exception</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means Indebtedness incurred, at the option of the Borrower (in its sole discretion), with a final maturity date prior to the earliest maturity date otherwise expressly required under this Agreement with respect to such Indebtedness (in each such case, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Earliest Permitted Maturity Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221;) and&#47;or a Weighted Average Life to Maturity shorter than the minimum Weighted Average Life to Maturity otherwise expressly required under this Agreement with respect to such Indebtedness (in each such case, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Minimum Permitted Weighted Average Life to Maturity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221;) in an aggregate principal amount up to the greater of (a) $225,000,000 and (b) 1.5% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis, in each case, solely to the extent the final maturity date of such Indebtedness is expressly restricted under the applicable Basket from occurring prior to an Earliest Permitted Maturity Date set forth therein that is expressly applicable thereto and&#47;or the Weighted Average Life to Maturity of such Indebtedness is expressly restricted under the applicable Basket from being shorter than a Minimum Permitted Weighted Average Life to Maturity set forth therein that is expressly applicable thereto. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Permitted Holders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means (a) the Sponsor and (b) any Person with which the Sponsor forms a &#8220;group&#8221; (within the meaning of Section 14(d) of the Exchange Act) so long as, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, the Sponsor beneficially owns more than 50% of the relevant voting stock beneficially owned by the group.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Permitted Liens</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means Liens permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or any other entity.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Plan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means any &#8220;employee benefit plan&#8221; (as such term is defined in Section 3(3) of ERISA) maintained by the Borrower and&#47;or any Restricted Subsidiary or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any of its ERISA Affiliates, other than any Multiemployer Plan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Platform</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 5.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Prepayment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means, with respect to any Indebtedness, the repayment, in whole or in part, thereof prior to the stated maturity thereof (excluding regularly scheduled amortization and other mandatory or required payments), including by redemption, repurchase (including by assignment to the Borrower or a Restricted Subsidiary and cancellation or reduction of such Indebtedness or by Dutch Auction), tender offer, offer to purchase, defeasance, satisfaction and discharge, or other retirement of such Indebtedness&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, that if such Indebtedness is under a revolving credit or similar facility, such Prepayment is accompanied by a corresponding permanent reduction of the commitments thereunder.&#160; &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Prepay</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; and &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Prepayment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; shall have meanings correlative thereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Prepayment Asset Sale</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means any non-ordinary course Disposition by the Borrower or its Restricted Subsidiaries made pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;6.07(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(s)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(aa)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, other than the Disposition of assets acquired after the Closing Date with the proceeds of equity contributions or the issuance of Qualified Capital Stock of the Borrower (in each case, other than contributions by, or issuances to, the Borrower or a Restricted Subsidiary).</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-53-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Primary Obligor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Guarantee.&#8221;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Prime Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means the rate of interest last quoted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">The Wall Street Journal</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> as the &#8220;Prime Rate&#8221; in the U.S. or, if </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">The Wall Street Journal</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the &#8220;bank prime loan&#8221; rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as reasonably determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as reasonably determined by the Administrative Agent).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Pro Forma Basis</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; or &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">pro forma effect</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, with respect to any determination of the Total Debt to Total Assets Ratio, the Senior Debt to Total Assets Ratio or Consolidated Total Assets (including component definitions thereof), subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 1.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that each Subject Transaction shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which such calculation is being made and that&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a)&#160;&#160;&#160;&#160;any retirement or repayment of Indebtedness (other than normal fluctuations in revolving Indebtedness incurred for working capital purposes) shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b)&#160;&#160;&#160;&#160;any Indebtedness incurred by the Borrower or any of its Restricted Subsidiaries in connection therewith shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which the relevant determination is being made&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that, (x) if such Indebtedness has a floating or formula rate, such Indebtedness shall have an implied rate of interest for the applicable Test Period for purposes of this definition determined by utilizing the rate that is or would be in effect with respect to such Indebtedness at the relevant date of determination (taking into account any interest hedging arrangements applicable to such Indebtedness), (y) interest on any obligation with respect to any Finance Lease shall be deemed to accrue at an interest rate reasonably determined by a Financial Officer of the Borrower to be the rate of interest implicit in such obligation in accordance with GAAP and (z) interest on any Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate or other rate shall be determined to have been based upon the rate actually chosen, or if none, then based upon such optional rate chosen by the Borrower,</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(c)&#160;&#160;&#160;&#160;the acquisition of any asset included in calculating Consolidated Total Assets, whether pursuant to any Subject Transaction or any Person becoming a Subsidiary or merging, amalgamating or consolidating with or into the Borrower or any of its Subsidiaries, or the Disposition of any asset included in calculating Consolidated Total Assets described in the definition of &#8220;Subject Transaction,&#8221; shall be deemed to have occurred as of the first day of the applicable Test Period with respect to any test or covenant for which such calculation is being made, and</font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(d)&#160;&#160;&#160;&#160;whenever a financial ratio or test is to be calculated on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">pro forma</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> basis, the reference to the &#8220;Test Period&#8221; for purposes of calculating such financial ratio or test (except for purposes of determining actual compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">) shall be deemed to be a reference to, and shall be based on, the most recently ended Test Period for which either, as determined by the Borrower, internal financial statements of the Borrower of the type described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as applicable, are available (as determined in good faith by the Borrower) or such financial statements have been delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as applicable. Notwithstanding anything to the contrary set forth in the immediately preceding paragraph, for the avoidance of doubt, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-54-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">when calculating the Total Debt to Total Assets Ratio for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> (other than for the purpose of determining pro forma compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> as a condition to taking any action under this Agreement), the events described in the immediately preceding paragraph that occurred subsequent to the end of the applicable Test Period shall not be given pro forma effect. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Projections</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the financial projections, forecasts, financial estimates, other forward-looking and&#47;or projected information and pro forma financial statements of the Borrower and its subsidiaries included in the Information Memorandum (or a supplement thereto).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Promissory Note</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a promissory note of the Borrower payable to any Lender or its registered assigns, in substantially the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Exhibit&#160;L</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> hereto, evidencing the aggregate outstanding principal amount of Loans of the Borrower to such Lender resulting from the Loans made by such Lender.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">PTE</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means a prohibited transaction class exemption issued by the U.S. Department of Labor, as any such exemption may be amended from time to time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Public Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Qualified Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; of any Person means any Capital Stock of such Person that is not Disqualified Capital Stock.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">QFC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to the term &#8220;qualified financial contract&#8221; in, and shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">QFC Credit Support</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to it in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Qualified Securitization Financing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Securitization Financing of a Securitization Subsidiary that meets the following conditions&#58; (a) such Qualified Securitization Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Borrower and the Securitization Subsidiary, (b) all sales and&#47;or contributions of Securitization Assets and related assets to the Securitization Subsidiary are made at fair market value and (c) the financing terms, covenants, termination events and other provisions thereof, including any Standard Securitization Undertakings, shall be market terms. The grant of a security interest in any Securitization Assets of the Borrower or any of the Restricted Subsidiaries (other than a Securitization Subsidiary) to secure Indebtedness under this Agreement prior to engaging in any Securitization Financing shall not be deemed a Qualified Securitization Financing.  For the avoidance of doubt, no Asset Financing Facility or CRE Financing is required to meet the conditions for a Qualified Securitization Financing in order to be permitted to be incurred hereunder and Qualified Securitization Financings shall be deemed to exclude Asset Financing Facilities and CRE Financings.   </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Real Estate Asset</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, at any time of determination, all right, title and interest (fee, leasehold or otherwise) of any Loan Party in and to real property (including, but not limited to, land, improvements and fixtures thereon).    </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Real Estate Investment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means (i) any Real Estate Asset that is not used by the Borrower or its Restricted Subsidiaries for operational purposes (including, for the avoidance of doubt, any such Real Estate Asset (x) subject to a sale-leaseback, ground lease or other long-term net lease, in each case, in respect of which the Borrower or any of its Restricted Subsidiaries is the landlord or lessor, as applicable, (y) acquired in connection with a foreclosure or other exercise of remedies under any CRE Finance Asset and&#47;or (z) </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-55-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">which is, or is in the process of becoming, subject to any CRE Financing) and&#47;or direct or indirect interests therein (including, without limitation, preferred equity and&#47;or syndicated equity interests), and (ii) any rights, assets or investments similar to or derivative of, any item referred to in the foregoing clause (i) and&#47;or the acquisition, financing, operation or administration thereof (regardless of whether or not the Borrower or any of its Restricted Subsidiaries owns the applicable Real Estate Asset or direct or indirect interest therein) (including, without limitation, management, franchise and&#47;or other operational rights) and (iii) Capital Stock in any Person substantially all of whose assets, directly or indirectly, are comprised of one or more of the items referred to in the foregoing clauses (i) and&#47;or (ii).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Recourse Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means with respect to any Person, on any date of determination, the amount of Indebtedness for which such Person has recourse liability (including without limitation through a Guarantee), exclusive of any such Indebtedness to the extent such recourse liability of such Person is limited to obligations relating to customary nonrecourse carve-outs.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Reference Time</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; with respect to any setting of the then-current Benchmark means (1) if such Benchmark is the Term SOFR Rate, 5&#58;00 a.m. (Chicago time) on the day that is two Business Days preceding the date of such setting , (2) if such Benchmark is Daily Simple SOFR, then four Business Days prior to such setting or (3) if such Benchmark is neither the Term SOFR Rate or Daily Simple SOFR, the time determined by the Administrative Agent in its reasonable discretion.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Refinancing Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means an amendment to this Agreement that is reasonably satisfactory to the Administrative Agent and the Borrower executed by (a)&#160;the Borrower, (b) the Administrative Agent and (c) each Lender that agrees to provide all or any portion of the Replacement Term Loans being incurred pursuant thereto and in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Refinancing Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section&#160;6.01(p)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Refunding Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section&#160;6.04(a)(viii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Register</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section&#160;9.05(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Regulation D</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means Regulation D of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Regulation H</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means Regulation H of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Regulation U</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means Regulation U of the Board as from time to time in effect and all official rulings and interpretations thereunder or thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">REIT Status</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; shall mean, with respect to any Person, (a) the qualification of such Person as a real estate investment trust under Sections 856 through 860 of the Code and (b) the applicability to such Person and its shareholders of the method of taxation provided for in Section 857 et seq. of the Code.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Related Funds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means with respect to any Lender that is an Approved Fund, any other Approved Fund that is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-56-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Related Parties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, with respect to any specified Person, such Person&#8217;s Affiliates and the respective directors, managers, officers, trustees, employees, partners, agents, advisors and other representatives of such Person and such Person&#8217;s Affiliates.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Release</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means any release, spill, emission, leaking, pumping, pouring, injection, escaping, deposit, disposal, discharge, dispersal, dumping, leaching or migration of any Hazardous Material into the Environment (including the abandonment or disposal of any barrels, containers or other closed receptacles containing any Hazardous Material), including the movement of any Hazardous Material through the air, soil, surface water or groundwater.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Relevant Governmental Body</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, the Board, the NYFRB, and&#47;or the CME Term SOFR Administrator, as applicable, or a committee officially endorsed or convened by the Board and&#47;or the NYFRB or, in each case, any successor thereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Relevant Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means (i) with respect to any Term Benchmark Borrowing, the Term SOFR Rate or (ii) with respect to any RFR Borrowing, Daily Simple SOFR, as applicable.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replaced Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Notes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means any Refinancing Indebtedness (whether issued in a public offering, Rule 144A under the Securities Act or other private placement or bridge financing in lieu of the foregoing or otherwise) incurred in respect of Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 6.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> (and any subsequent refinancing of such Replacement Notes).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-3 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-3 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-3 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Fifth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-6 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Eleventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-6 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Eleventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term B-6 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Eleventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">&#8220;Replacement Term B-7 Lender&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">&#8220;Replacement Term B-7 Loan Commitment&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">&#8220;Replacement Term B-7 Loans&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Replacement Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section&#160;9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-57-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Reportable Event</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, with respect to any Pension Plan or Multiemployer Plan, any of the events described in Section 4043(c) of ERISA or the regulations issued thereunder, other than those events as to which the 30-day notice period is waived under PBGC Reg. Section 4043.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Representatives</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Repricing Transaction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt"> m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">ean</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">s each of (a) the prepayment, repayment, refinancing, substitution or replacement of all or a portion of any Term B-6 Loans </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt;text-decoration:underline">or Term B-7 Loans </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">with the incurrence by any Loan Party of any broadly syndicated term loans secured by the Collateral on a pari passu basis with the Term B-6 Loans </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt;text-decoration:underline">and Term B-7 Loans </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">(including</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt;text-decoration:underline">, in each case,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt"> any Replacement Term Loans) under any credit facilities the primary purpose (as determined in good faith by the Borrower) of which is to, and which does, reduce the Effective Yield of such Indebtedness relative to the Term B-6 Loans </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt;text-decoration:underline">or Term B-7 Loans, as applicable, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">so prepaid, repaid, refinanced, substituted or replaced, as applicable, and (b) any amendment, waiver or other modification to this Agreement the primary purpose (as determined in good faith by the Borrower) of which is to, and which does, reduce </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">the</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:13.20pt"> E</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">ffective</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.036000000000000004em;line-height:13.20pt"> Yield applicable to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">the</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:13.20pt"> applicable </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">Term B-6 Loans </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt;text-decoration:underline">or Term B-7 Loans </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">immediately prior to such amendment, waiver or modification&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that in no event shall any &#8220;Repricing Transaction&#8221; include (or be deemed to include) any such prepay</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">ent,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.054em;line-height:13.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">repay</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">ent, refinancing,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.054em;line-height:13.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">substitution, replace</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:13.20pt">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">ent, amendment, waiver or other modification in connection with (x) a Change of Control or (y) any acquisition, investment or disposition, in each case under this clause (y), for which the aggregate consideration (together with any related acquisition, investment or disposition forming part of the same transaction or series of related transactions) is equal to or greater than $400,000,000.  Any determination by the Administrative Agent of the Effective Yield for purposes of this definition shall be conclusive and binding on all Lenders, and the Administrative Agent shall have no liability to any Person with respect to such determination absent bad faith, gross negligence or willful misconduct.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Required Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, at any time, Lenders having Loans and unused Commitments representing more than 50% of the sum of the total Loans and such unused Commitments at such </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Requirements of Law</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, with respect to any Person, collectively, the common law and all federal, state, local, foreign, multinational or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or administration thereof by, and other determinations, directives, requirements or requests of any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Responsible Officer</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, (A) with respect to the Borrower and its Restricted Subsidiaries (i) Stephen Plavin, Thomas C. Ruffing or Douglas Armer, or any successor to any of the foregoing, (ii) any asset manager at The Blackstone Group L.P. or any Affiliate thereof responsible for the applicable asset (or replacement manager of Borrower), or (iii) any other employee with a title equivalent or more senior to that of &#8220;principal&#8221; within The Blackstone Group L.P. or any Affiliate thereof responsible for the origination, acquisition and&#47;or management of the applicable asset and (B) with respect to any other Person, the chief executive officer, the president, the chief financial officer, the treasurer, any assistant treasurer, any executive vice president, any senior vice president, any vice president, the chief operating officer or any other executive officer of such Person and any other individual or similar official thereof responsible for the administration of the obligations of such Person in respect of this Agreement, and, as to any document </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-58-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">delivered on the Closing Date, shall include any secretary or assistant secretary or any other individual or similar official thereof with substantially equivalent responsibilities of a Loan Party. Any document delivered hereunder that is signed by a Responsible Officer on behalf of any Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and&#47;or other action on the part of such Loan Party, and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Restricted Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 2.11(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Restricted Debt Payments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; has the meaning set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;6.04(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Restricted Payment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means (a) any dividend or other distribution on account of any shares of any class of the Capital Stock of the Borrower, except a dividend payable solely in shares of Qualified Capital Stock of the Borrower to the holders of such class&#59; (b)&#160;any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value of any shares of any class of the Capital Stock of the Borrower&#59; and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants, options or other rights to acquire shares of any class of the Capital Stock of the Borrower now or hereafter outstanding.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Restricted Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means, as to any Person, any subsidiary of such Person that is not an Unrestricted Subsidiary.  Unless otherwise specified, &#8220;Restricted Subsidiary&#8221; shall mean any Restricted Subsidiary of the Borrower.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">RFR Borrowing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means, as to any Borrowing, the RFR Loans comprising such Borrowing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">RFR Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means a Loan that bears interest at a rate based on Daily Simple SOFR.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">S&#38;P</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means S&#38;P Global Ratings, a subsidiary of S&#38;P Global Inc.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sanctioned Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means a person that is (i) the subject of Sanctions, (ii) located in or organized under the laws of a country or territory which is the subject of country- or territory-wide Sanctions (including without limitation Cuba, Iran, North Korea, Syria, or the Crimea region), (iii) ordinarily a resident in a country or territory which is the subject of country- or territory-wide Sanctions (including without limitation Cuba, Iran, North Korea, Syria, or the Crimea region), or (iv) majority-owned or, as relevant under applicable Sanctions, controlled by any of the foregoing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sanctions</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means those trade, economic and financial sanctions laws, regulations, embargoes, and restrictive measures (in each case having the force of law) administered, enacted or enforced from time to time by the United States (including without limitation the Department of Treasury, Office of Foreign Assets Control) or Her Majesty&#8217;s Treasury of the United Kingdom.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">SEC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means the Securities and Exchange Commission, or any Governmental Authority succeeding to any or all of its functions.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Second Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means that certain Second Amendment to Term Loan Credit Agreement, dated as of May 20, 2020, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Second Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means May 20, 2020.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Secured Hedging Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; means all Hedging Obligations (other than any Excluded Swap Obligations) under each Hedge Agreement that (a) is in effect on the Closing Date between any Loan Party </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-59-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">and a counterparty that is the Administrative Agent, a Lender, an Arranger or any Affiliate of the Administrative Agent, a Lender or an Arranger as of the Closing Date, (b) is entered into after the Closing Date between any Loan Party and any counterparty that is (or is an Affiliate of) the Administrative Agent, any Lender, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:line-through"> or</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> any Eleventh Amendment </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Arranger or any Twelfth Amendment </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Arranger at the time such Hedge Agreement is entered into or (c) is in effect on the Closing Date or entered into after the Closing Date by any Loan Party with any counterparty that is reasonably acceptable to the Administrative Agent designated as a &#8220;Secured Hedge Bank&#8221; by written notice executed by the Borrower and such counterparty to the Administrative Agent in a form reasonably acceptable to the Administrative Agent, in each case, for which such Loan Party agrees to provide security and in each case that has been designated to the Administrative Agent in writing by the Borrower as being a Secured Hedging Obligation for purposes of the Loan Documents, it being understood that each counterparty thereto shall be deemed (x) to appoint the Administrative Agent as its agent under the applicable Loan Documents and (y) to agree to be bound by the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> as if it were a Lender.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Secured Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means all Obligations, together with all Secured Hedging Obligations.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Secured Parties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means (i) the Lenders, (ii) the Administrative Agent, (iii) each counterparty to a Hedge Agreement with a Loan Party the obligations under which constitute Secured Hedging Obligations, (iv) the Arrangers, the First Amendment Arrangers (as defined in the First Amendment), the Second Amendment Arrangers (as defined in the Second Amendment), the Third Amendment Arranger, the Fourth Amendment Arrangers, the Fifth Amendment Arrangers, the Sixth Amendment Arrangers, the Seventh Amendment Arrangers, the Tenth Amendment Arrangers</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> the Eleventh </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Amendment Arrangers and the Twelfth </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Amendment Arrangers, and (v) the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Securities</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means any stock, shares, units, partnership interests, voting trust certificates, certificates of interest or participation in any profit-sharing agreement or arrangement, options, warrants, bonds, debentures, notes, or other evidences of indebtedness, secured or unsecured, convertible, subordinated or otherwise, or in general any instruments commonly known as &#8220;securities&#8221; or any certificates of interest, shares or participations in temporary or interim certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire, any of the foregoing&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that &#8220;Securities&#8221; shall not include any earn-out agreement or obligation or any employee bonus or other incentive compensation plan or agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Securities Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Securities Act of 1933 and the rules and regulations of the SEC promulgated thereunder.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Securitization Assets</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the accounts receivable, royalty or other revenue streams and other rights to payment subject to a Qualified Securitization Financing and the proceeds thereof.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Securitization Fees</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means distributions or payments made directly or by means of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Subsidiary in connection with, any Qualified Securitization Financing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Securitization Financing</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means any transaction or series of transactions that may be entered into by the Borrower or any of its Subsidiaries pursuant to which the Borrower or any of its Subsidiaries may sell, convey or otherwise transfer to (a) a Securitization Subsidiary (in the case of a transfer by the Borrower or any of its Subsidiaries) or (b) any other Person (in the case of a transfer by a Securitization Subsidiary), or may grant a security interest in, any Securitization Assets of the Borrower or any of its Subsidiaries, and </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-60-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">any assets related thereto, including all collateral securing such Securitization Assets, all contracts and all guarantees or other obligations in respect of such Securitization Assets, proceeds of such Securitization Assets and other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Securitization Assets.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Securitization Repurchase Obligation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means any obligation of a seller of Securitization Assets in a Qualified Securitization Financing to repurchase Securitization Assets arising as a result of a breach of a Standard Securitization Undertaking, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to the seller.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Securitization Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means a wholly owned Subsidiary of the Borrower (or another Person formed for the purposes of engaging in a Qualified Securitization Financing in which the Borrower or any Subsidiary of the Borrower makes an Investment and to which the Borrower or any Subsidiary of the Borrower transfers Securitization Assets and related assets) that engages in no activities other than in connection with the financing of Securitization Assets of the Borrower or its Subsidiaries, all proceeds thereof and all rights (contingent and other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the board of directors of the Borrower or such other Person (as provided below) as a Securitization Subsidiary and (a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i) is guaranteed by the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary (excluding guarantees of obligations (other than the principal of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings), (ii) is recourse to or obligates the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary, in any way other than pursuant to Standard Securitization Undertakings or (iii) subjects any property or asset of the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings, (b) with which none of the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary, has any material contract, agreement, arrangement or understanding other than on terms which the Borrower reasonably believes to be no less favorable to the Borrower or such Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Borrower and (c) to which none of the Borrower or any other Subsidiary of the Borrower, other than another Securitization Subsidiary, has any obligation to maintain or preserve such entity&#8217;s financial condition or cause such entity to achieve certain levels of operating results. Any such designation by the board of directors of the Borrower or such other Person shall be evidenced to the Administrative Agent by delivery to the Administrative Agent of a certified copy of the resolution of the board of directors of the Borrower or such other Person giving effect to such designation and a certificate executed by a Responsible Officer certifying that such designation complied with the foregoing conditions.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Security Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means the Pledge and Security Agreement, substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Exhibit M</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, among the Loan Parties and the Administrative Agent for the benefit of the Secured Parties.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Senior Debt to Total Assets Ratio</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means, at any date, the percentage obtained by dividing (i) Consolidated Senior Debt as of the last day of the most recently ended Test Period by (ii) Consolidated Total Assets as of the last day of the most recently ended Test Period.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Seventh Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221; means that certain Seventh Amendment to Term Loan Credit Agreement, dated as of November 4, 2022, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-61-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Seventh Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Seventh Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Seventh Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means November 4, 2022.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Similar Business</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means any Person the majority of the revenues of which are derived from, or the majority of operations relate to, a business that would be permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 6.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> if the references to &#8220;Restricted Subsidiaries&#8221; in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 6.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> were read to refer to such Person.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sixth Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means that certain Sixth Amendment to Term Loan Credit Agreement, dated as of May 9, 2022, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sixth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the Sixth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sixth Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means May 9, 2022.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SOFR</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means a rate equal to the secured overnight financing rate as administered by the SOFR Administrator.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SOFR Administrator</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means the NYFRB (or a successor administrator of the secured overnight financing rate).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SOFR Administrator&#8217;s Website</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means the NYFRB&#8217;s website, currently at http&#58;&#47;&#47;www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SOFR Determination Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning specified in the definition of &#8220;Daily Simple SOFR&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SOFR Rate Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning specified in the definition of &#8220;Daily Simple SOFR&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">SPC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section&#160;9.05(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Specified Debt</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Permitted Earlier Maturity Indebtedness Exception.&#8221;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Specified Representations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means the representations and warranties set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sections&#160;3.01(a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> (solely with respect to the Loan Parties), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> (as it relates to the due authorization, execution, delivery and performance of the Loan Documents and the enforceability thereof), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.03(b)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> (as it relates to the creation, validity and perfection of the security interests in the Collateral), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.16,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.17(a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.17(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">3.17(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> (solely as it relates to the use of proceeds in violation of FCPA). </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sponsor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means, collectively, The Blackstone Group L.P., its controlled Affiliates and funds managed or advised by any of them or any of their respective controlled Affiliates, in each case, for the avoidance of doubt, other than any portfolio company of the foregoing and other than the Borrower or any of its Subsidiaries.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-62-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Standard Securitization Undertakings</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; means representations, warranties, covenants and indemnities entered into by the Borrower or any Subsidiary of the Borrower that are customary in a Securitization Financing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Subject Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 1.10(f)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subject Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subject Person</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the definition of &#8220;Consolidated Net Income.&#8221;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subject Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subject Transaction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means (a) the Transactions, (b) any Permitted Acquisition or any other acquisition, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or any business line, unit or division of, any Person or of a majority of the outstanding Capital Stock of any Person (including (i) to the extent applicable, any Investment in (A) any Restricted Subsidiary the effect of which is to increase the Borrower&#8217;s or any Restricted Subsidiary&#8217;s respective equity ownership in such Restricted Subsidiary or (B) any joint venture for the purpose of increasing the Borrower&#8217;s or its relevant Restricted Subsidiary&#8217;s ownership interest in such joint venture and (ii) and any transaction resulting in any Person that was not previously a Restricted Subsidiary becoming a Restricted Subsidiary or being merged, amalgamated or consolidated with or into the Borrower or a Restricted Subsidiary), in each case that is not prohibited by this Agreement, (c)&#160;any Disposition of all or substantially all of the assets or Capital Stock of any subsidiary (or any business unit, line of business or division of the Borrower or a Restricted Subsidiary) not prohibited by this Agreement, (d) the designation of a Restricted Subsidiary as an Unrestricted Subsidiary or an Unrestricted Subsidiary as a Restricted Subsidiary in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;5.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> hereof, (e)&#160;any incurrence or repayment (or redemption, repurchase or other retirement) of Indebtedness and&#47;or (f) any other event that by the terms of the Loan Documents requires pro forma compliance with a test or covenant hereunder or requires such test or covenant to be calculated on a pro forma basis.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, with respect to any Person, any corporation, partnership, limited liability company, association, joint venture or other business entity of which more than 50% of the total voting power of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by such Person or one or more of the other subsidiaries of such Person or a combination thereof, in each case to the extent such entity&#8217;s financial results are required to be included in such Person&#8217;s consolidated financial statements under GAAP&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interests in the nature of a &#8220;qualifying share&#8221; of the former Person shall be deemed to be outstanding.  Unless otherwise specified, &#8220;Subsidiary&#8221; shall mean any Subsidiary of the Borrower.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Subsidiary Guarantor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means (x) on the Closing Date, each Subsidiary of the Borrower (other than any such Subsidiary that is an Excluded Subsidiary on the Closing Date) and (y) thereafter, each Subsidiary of the Borrower that becomes a guarantor of the Secured Obligations pursuant to the terms of this Agreement (including each Restricted Subsidiary that is a Discretionary Guarantor), in each case, until such time as the relevant Subsidiary is released from its obligations under the Loan Guaranty in accordance with the terms and provisions hereof.  </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-63-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Successor Borrower</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 6.07(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Supported QFC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to it in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Swap Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or transaction that constitutes a &#8220;swap&#8221; within the meaning of Section&#160;1a(47) of the Commodity Exchange Act.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means all present and future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#34;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Tenth Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means that certain Tenth Amendment to Term Loan Credit Agreement, dated as of December 10, 2024, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Tenth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to such term in the Tenth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Tenth Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means December 10, 2024.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-2 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means each Initial Term B-2 Lender and each Additional Term B-2 Lender.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-2 Loan Commitments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Initial Term B-2 Loan Commitments and the Additional Term B-2 Loan Commitments. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-2 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Initial Term B-2 Loans and the Additional Term B-2 Loans.  As of the Eleventh Amendment Effective Date, there are no Term B-2 Loans outstanding under this Agreement. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-3 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Replacement Term B-3 Loans and the Incremental Term B-3 Loans&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that, for the avoidance of doubt, the Replacement Term B-3 Loans and the Incremental Term B-3 Loans shall be treated as a single Class of Term B-3 Loans under this Agreement and the other Loan Documents.  As of the Eleventh Amendment Effective Date, there are no Term B-3 Loans outstanding under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-4 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means any Lender with a Term B-4 Loan Commitment or an outstanding Term B-4 Loan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-4 Loan Commitments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Initial Term B-4 Loan Commitments and the Incremental Term B-4 Loan Commitments. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-4 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means the Initial Term B-4 Loans and the Incremental Term B-4 Loans. </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline"> As of the Twelfth Amendment Effective Date, after giving effect to the application of the proceeds of the Replacement Term B-7 Loans, there are no Term B-4 Loans outstanding under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-5 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means any Lender with a Term B-5 Loan Commitment or an outstanding Term B-5 Loan.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term B-5 Loan Commitments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to such term in the Tenth Amendment. </font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-64-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term B-5 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; has the meaning assigned to such term in the Tenth Amendment.  As of the Eleventh Amendment Effective Date, after giving effect to the application of the proceeds of the Term B-6 Loans, there are no Term B-5 Loans outstanding under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term B-6 Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Replacement Term B-6 Loans and the Incremental Term B-6 Loans&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> that, for the avoidance of doubt, the Replacement Term B-6 Loans and the Incremental Term B-6 Loans shall be treated as a single Class of Term B-6 Loans under this Agreement and the other Loan Documents.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">&#8220;Term B-7 Lender&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">&#8220;Term B-7 Loan Commitment&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">&#8220;Term B-7 Loans&#8221; means the Replacement Term B-7 Loans and the Incremental Term B-7 Loans&#59; provided that, for the avoidance of doubt, the Replacement Term B-7 Loans and the Incremental Term B-7 Loans shall be treated as a single Class of Term B-7 Loans under this Agreement and the other Loan Documents.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term Benchmark</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bears interest at a rate determined by reference to the Term SOFR Rate.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Initial Term Loan Commitment, any 2019 Replacement Term Loan Commitment, any 2019 Incremental Term Loan Commitment, any Additional 2019 Incremental Term Loan Commitment, any Term B-2 Loan Commitment, any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:13.00pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Replacement Term B-3 Loan Commitment, any Incremental Term B-3 Loan Commitment, any Term B-4 Loan Commitment, any Term B-5 Loan Commitment, any Replacement Term B-6 Commitment, any Incremental Term B-6 Commitment</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">, any Replacement Term B-7 Commitment, any Incremental Term B-7 Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> and any other Additional Term Loan Commitment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term Facility</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Term Loans provided to or for the benefit of the Borrower pursuant to the terms of this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means any Initial Term Lender, any 2019 Replacement Term Lender, any 2019 Incremental Term Lender, any Additional 2019 Incremental Term Lender, any Term B-2 Lender, any Replacement Term B-3 Lender, any Incremental Term B-3 Lender, any Term B-4 Lender, any Term B-5 Lender, any Replacement Term B-6 Lender, any Incremental Term B-6 Lender</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">, any Replacement Term B-7 Lender, any Incremental Term B-7 Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> and any other Additional Term Lender.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means the Initial Term Loans and, from and after the First Amendment Effective Date, the 2019 Replacement Term Loans and the 2019 Incremental Term Loans, and, from and after the Second Amendment Effective Date, the Term B-2 Loans, and, from and after the Fourth Amendment Effective Date, the Additional 2019 New Term Loans, and, from and after the Fifth Amendment Effective Date, the Replacement Term B-3 Loans and the Incremental Term B-3 Loans, and, from and after the Sixth Amendment Effective Date, the Term B-4 Loans, and, from and after the Tenth Amendment Effective Date, the Term B-5 Loans, and, from and after the Eleventh Amendment Effective Date, the Replacement Term B-6 Loans and the Incremental Term B-6 Loans, and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">, from any after the Twelfth Amendment Effective Date, the Replacement Term B-7 Loans and the Incremental Term B-7 Loans and</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt"> any other Additional Term Loans.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-65-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Term SOFR Adjustment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">&#8221; means, solely with respect to the 2019 New Term Loans and the Term B-3 Loans, (a) in the case of an Interest Period that is one month in duration, a percentage equal to 0.11448% (11.448 basis points) per annum, (b) in the case of an Interest Period that is three months in duration, a percentage equal to 0.26161% (26.161 basis points) per annum and (c) in the case of an Interest Period that is six months  in duration, a percentage equal to 0.42826% (42.826 basis points) per annum.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Term SOFR Determination Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; has the meaning assigned to it under the definition of </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8220;Term SOFR Reference Rate&#8221;.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Term SOFR Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the Term SOFR Reference Rate at approximately 5&#58;00 a.m., Chicago time, two U.S. Government Securities Business Days prior to the commencement of such tenor comparable to the applicable Interest Period, as such rate is published by the CME Term SOFR Administrator&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that, in no event shall the Term SOFR Rate for the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> Loans or Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> Loans be less than the Floor.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Term SOFR Reference Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, for any day and time (such day, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Term SOFR Determination Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;), with respect to any Term Benchmark Borrowing and for any tenor comparable to the applicable Interest Period, the rate per annum determined by the Administrative Agent as the forward-looking term rate based on SOFR.  If by 5&#58;00 p.m. (New York City time) on such Term SOFR Determination Day, the &#8220;Term SOFR Reference Rate&#8221; for the applicable tenor has not been published by the CME Term SOFR Administrator and a Benchmark Replacement Date with respect to the Term SOFR Rate has not occurred, then the Term SOFR Reference Rate for such Term SOFR Determination Day will be the Term SOFR Reference Rate as published in respect of the first preceding U.S. Government Securities Business Day for which such Term SOFR Reference Rate was published by the CME Term SOFR Administrator, so long as such first preceding Business Day is not more than five (5) Business Days prior to such Term SOFR Determination Day.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Termination Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the lead-in to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Article&#160;5</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Test Period</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, as of any date, the period of four consecutive Fiscal Quarters then most recently ended for which financial statements under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as applicable, have been delivered (or are required to have been delivered).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Third Amendment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means that certain Third Amendment to Term Loan Credit Agreement, dated as of June 11, 2020, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Third Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in the Third Amendment.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Third Amendment Effective Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means June 11, 2020.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Threshold Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, at any date, the greater of (i) $50,000,000 and (ii) 0.35% of Consolidated Total Assets as of the last day of the most recently ended Test Period.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Total Debt to Total Assets Ratio</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, at any date, the percentage obtained by dividing (i) Consolidated Total Debt as of the last day of the most recently ended Test Period by (ii) Consolidated Total Assets as of the last day of the most recently ended Test Period. </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-66-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Trademark</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means the following&#58;  (a) all trademarks (including service marks), common law marks, trade names, trade dress, domain names and logos, slogans and other indicia of origin under the Requirements of Law of any jurisdiction in the world, and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing&#59; (b) all renewals of the foregoing&#59; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements, dilutions or violations thereof&#59; (d) all rights to sue for past, present, and future infringements, dilutions or violations of the foregoing, including the right to settle suits involving claims and demands for royalties owing&#59; and (e) all domestic rights corresponding to any of the foregoing.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Transaction Costs</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means fees, premiums, expenses and other transaction costs (including original issue discount or upfront fees) payable or otherwise borne by the Borrower and&#47;or its Subsidiaries in connection with the Transactions and the transactions contemplated thereby.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Transactions</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, collectively, (a)&#160;the execution, delivery and performance by the Loan Parties of the Loan Documents to which they are a party and the Borrowing of Loans hereunder on the Closing Date and (b)&#160;the payment of the Transaction Costs.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Treasury Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;6.04(a)(viii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Treasury Regulations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means the U.S. federal income tax regulations promulgated under the Code.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Trust Account</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means any accounts used solely to hold Trust Funds.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Trust Funds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means, to the extent segregated from other assets of the Loan Parties in a segregated account that contains amounts comprised solely and exclusively of such Trust Funds, cash, cash equivalents or other assets comprised solely of (a) funds used for payroll and payroll taxes and other employee benefit payments to or for the benefit of such Loan Party&#8217;s employees, (b) all taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes) and (c) any other funds which the Loan Parties hold in trust or as an escrow or fiduciary for another person, which is not a Loan Party or a Restricted Subsidiary.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">&#34;Twelfth Amendment&#8221; means that certain Twelfth Amendment to Term Loan Credit Agreement, dated as of August 6, 2025, among the Borrower, the Subsidiary Guarantors party thereto, the Lenders party thereto and the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">&#8220;Twelfth Amendment Arranger&#8221; has the meaning assigned to such term in the Twelfth Amendment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">&#8220;Twelfth Amendment Effective Date&#8221; means August 6, 2025.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Type</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">,&#8221; when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the Term SOFR Rate, Daily Simple SOFR or the Alternate Base Rate.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt;text-decoration:underline">UCC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">&#8221; means the Uniform Commercial Code as in effect from time to time in the State of New York or any other state the laws of which are required to be applied in connection with the creation or perfection of security interests.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-67-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Unadjusted Benchmark Replacement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:12.60pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">means the applicable Benchmark Replacement excluding the related Benchmark Replacement Adjustment.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Unrestricted Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means any Subsidiary of the Borrower that is listed on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Schedule&#160;5.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> hereto or designated by the Borrower as an Unrestricted Subsidiary after the Closing Date pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section&#160;5.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">U.S.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means the United States of America.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">U.S. Government Securities Business Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">U.S. Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means any Lender that is a &#8220;United States person&#8221; within the meaning of Section 7701(a)(30) of the Code.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">U.S. Special Resolution Regimes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to it in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 9.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">U.S. Tax Compliance Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; has the meaning assigned to such term in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">USA PATRIOT Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Weighted Average Life to Maturity</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means, when applied to any Indebtedness at any date, the number of years obtained by dividing&#58;  (a) the sum of the products obtained by multiplying (i) the amount of each then remaining installment, sinking fund, serial maturity or other required scheduled payments of principal, including payment at final maturity, in respect thereof, by (ii) the number of years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment&#59; by (b) the then outstanding principal amount of such Indebtedness&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> that the effects of any Prepayments made on such Indebtedness shall be disregarded in making such calculation.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Wholly-Owned Subsidiary</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; of any Person means a direct or indirect subsidiary of such Person, 100% of the Capital Stock or other ownership interests of which (other than directors&#8217; qualifying shares or shares required by Requirements of Law to be owned by a resident of the relevant jurisdiction) shall be owned by such Person or by one or more Wholly-Owned Subsidiaries of such Person.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Withdrawal Liability</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means the liability to any Multiemployer Plan as the result of a &#8220;complete&#8221; or &#8220;partial&#8221; withdrawal by the Borrower or any Restricted Subsidiary or any ERISA Affiliate from such Multiemployer Plan, as such terms are defined in Part I of Subtitle E of Title </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">IV of ERISA.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Write-Down and Conversion Powers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">&#8221; means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">Section 1.02.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Classification of Loans and Borrowings</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">.  For purposes of this Agreement, Loans may be classified and referred to by Class (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, an &#8220;Initial Term Loan&#8221;) or by Type (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, a &#8220;Term Benchmark Loan&#8221; or an &#8220;ABR Loan&#8221;) or by Class and Type (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, a &#8220;Term Benchmark Term B-4 Loan&#8221;).  Borrowings </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-68-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">also may be classified and referred to by Class (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, a &#8220;Term Loan Borrowing&#8221;) or by Type (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, a &#8220;Term Benchmark Borrowing&#8221;) or by Class and Type (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">e.g.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, a &#8220;Term Benchmark Term Loan Borrowing&#8221;).</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Section 1.03. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Terms Generally</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">.  The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms.  The words &#8220;include,&#8221; &#8220;includes&#8221; and &#8220;including&#8221; shall be deemed to be followed by the phrase &#8220;without limitation.&#8221;  The word &#8220;will&#8221; shall be construed to have the same meaning and effect as the word &#8220;shall.&#8221;  Unless the context requires otherwise, (a) any definition of or reference to any agreement, instrument or other document herein or in any Loan Document (including any Loan Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified or extended, replaced or refinanced (subject to any restrictions or qualifications on such amendments, restatements, amendment and restatements, supplements or modifications or extensions, replacements or refinancings set forth herein), (b) any reference to any Requirement of Law in any Loan Document shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Requirement of Law, (c) any reference herein or in any Loan Document to any Person shall be construed to include such Person&#8217;s successors and permitted assigns, (d) the words &#8220;herein,&#8221; &#8220;hereof&#8221; and &#8220;hereunder,&#8221; and words of similar import, when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular provision hereof, (e) all references herein or in any Loan Document to Articles, Sections, clauses, paragraphs, Exhibits and Schedules shall be construed to refer to Articles, Sections, clauses and paragraphs of, and Exhibits and Schedules to, such Loan Document, (f) in the computation of periods of time in any Loan Document from a specified date to a later specified date, the word &#8220;from&#8221; means &#8220;from and including,&#8221; the words &#8220;to&#8221; and &#8220;until&#8221; mean &#8220;to but excluding&#8221; and the word &#8220;through&#8221; means &#8220;to and including&#8221; and (g) the words &#8220;asset&#8221; and &#8220;property,&#8221; when used in any Loan Document, shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including Cash, securities, accounts and contract rights.   </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Section 1.04.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Accounting Terms&#59; GAAP.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(a) &#160;&#160;&#160;&#160;All financial statements to be delivered pursuant to this Agreement shall be prepared in accordance with GAAP as in effect from time to time and, except as otherwise expressly provided herein, all terms of an accounting nature that are used in calculating the Total Debt to Total Assets Ratio, the Senior Debt to Totals Assets Ratio or Consolidated Total Assets shall be construed and interpreted in accordance with GAAP, as in effect from time to time&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> that </font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(i) &#160;&#160;&#160;&#160;if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date of delivery of the financial statements described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section&#160;3.04(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> in GAAP or in the application thereof (including the conversion to IFRS as described below) on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change becomes effective until such notice shall have been withdrawn or such provision shall have been amended in accordance herewith&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, that if such an amendment is requested by the Borrower or the Required Lenders, then the Borrower and the Administrative Agent shall negotiate in good faith to enter into an amendment of the relevant affected provisions (without the payment of any amendment or similar fee to the Lenders) to preserve the original intent thereof in light of such change in GAAP or the application thereof&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-69-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(ii)&#160;&#160;&#160;&#160; all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to (A) any election under Accounting Standards Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at &#8220;fair value,&#8221; as defined therein and (B) any treatment of Indebtedness in respect of convertible debt instruments under Accounting Standards Codification 470-20 (or any other Accounting Standards Codification or Financial Accounting Standard having a similar result or effect) to value any such Indebtedness in a reduced or bifurcated manner as described therein, and such Indebtedness shall at all times be valued at the full stated principal amount thereof&#59; and</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160; if the Borrower notifies the Administrative Agent that the Borrower is required to report under IFRS or has elected to do so through an early adoption policy, &#8220;GAAP&#8221; shall mean international financial reporting standards pursuant to IFRS and after such conversion, the Borrower cannot elect to report under GAAP.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)          &#91;Reserved&#93;.</font></div><div><font><br></font></div><div style="margin-top:2pt;padding-left:4.5pt;text-indent:-27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;     (c)           Notwithstanding anything to the contrary contained in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above or in the definition of &#8220;Finance Lease,&#8221; regardless of GAAP as in effect at any applicable time, only those leases (assuming for purposes hereof that such leases were in existence on the date hereof) that would constitute Finance Leases in conformity with GAAP as in effect on January 1, 2018 shall be considered Finance Leases, and all calculations and deliverables under this Agreement or any other Loan Document shall be made or delivered, as applicable, in accordance therewith.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 1.05. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">&#91;Reserved&#93;.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 1.06. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Timing of Payment of Performance.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  When payment of any obligation or the performance of any covenant, duty or obligation is stated to be due or required on a day which is not a Business Day, the date of such payment (other than as described in the definition of &#8220;Interest Period&#8221;) or performance shall extend to the immediately succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 1.07. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Times of Day</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Unless otherwise specified herein, all references herein to times of day shall be references to New York City time (daylight or standard, as applicable).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 1.08. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Currency Equivalents Generally</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;padding-left:4.5pt;text-indent:13.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) With respect to amounts denominated in currencies other than Dollars&#58;</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"><br></font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(i)&#160;&#160;&#160;&#160; For purposes of any determination under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Article 1</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Article&#160;5</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Article 6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section&#160;6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder) or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Article 7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> with respect to the amount of any Indebtedness, Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition, Affiliate transaction or other transaction, event or circumstance, or any determination under any other provision of this Agreement (any of the foregoing, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">specified transaction</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">&#8221;), in a currency other than Dollars, the Dollar Equivalent amount of a specified transaction in a currency other than Dollars shall be determined by the Borrower in good faith&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, that (A) if any Indebtedness is incurred (and, if applicable, associated Lien granted) to refinance or replace </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-70-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">other Indebtedness denominated in a currency other than Dollars, and the relevant refinancing or replacement would cause the applicable Dollar-denominated restriction to be exceeded if the Dollar Equivalent thereof were determined on the date of such refinancing or replacement, such Dollar-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing or replacement Indebtedness (and, if applicable, associated Lien granted) does not exceed an amount sufficient to repay the principal amount of such Indebtedness being refinanced or replaced, except by an amount equal to (x) unpaid accrued interest, penalties and premiums (including tender premiums) thereon </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> reasonable and customary fees and expenses (including upfront fees and original issue discount) incurred in connection with such refinancing or replacement and the Indebtedness being refinanced or replaced, (y) any existing commitments unutilized thereunder and (z)&#160;additional amounts permitted to be incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, and (B)&#160;for the avoidance of doubt, no Default or Event of Default shall occur or be deemed to have occurred solely as a result of a change in the rate of currency exchange occurring after the time of any specified transaction so long as such specified transaction was permitted at the time incurred, made, acquired, committed, entered or declared as set forth above.  </font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(ii) &#160;&#160;&#160;&#160;For purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> and the calculation of compliance with any financial ratio for purposes of taking any action hereunder, on any relevant date of determination, amounts denominated in currencies other than Dollars shall be translated into Dollars at the applicable rate of currency exchange used in preparing the financial statements delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Sections 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> (or, prior to the first such delivery, the financial statements referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 3.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">), as applicable, for the relevant Test Period and will, with respect to any Indebtedness, reflect the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date of determination for the Dollar Equivalent amount of such Indebtedness.  Notwithstanding the foregoing or anything to the contrary herein, to the extent that the Borrower would not be in compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> if any Indebtedness denominated in a currency other than Dollars were to be translated into Dollars on the basis of the applicable rate of currency exchange used in preparing the financial statements for the relevant Test Period, but would be in compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> if such Indebtedness that is denominated in a currency other than in Dollars were instead translated into Dollars on the basis of the average relevant rate of currency exchange over such Test Period (taking into account the currency translation effects, determined in accordance with GAAP, of any Hedge Agreement permitted hereunder in respect of currency exchange risks with respect to the applicable currency in effect on the date of determination for the Dollar Equivalent amount of such Indebtedness), then, solely for purposes of compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">, the Total Debt to Total Assets Ratio as of the last day of such Test Period shall be calculated on the basis of such average relevant rate of currency exchange.&#160;&#160;&#160;&#160;</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(b) &#160;&#160;&#160;&#160;Each provision of this Agreement shall be subject to such reasonable changes of construction as agreed by the Administrative Agent and the Borrower to appropriately reflect a change in currency of any country and any relevant market convention or practice relating to such change in currency.</font></div><div style="margin-top:2pt;text-indent:36pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Section 1.09.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Cashless Rollovers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.  Notwithstanding anything to the contrary contained in this Agreement or in any other Loan Document, to the extent that any Lender extends the maturity date of, or replaces, renews or refinances, any of its then-existing Loans with Incremental Term Loans, Replacement Term Loans, Extended Term Loans or loans incurred under a new credit facility, in each case, to the extent such extension, replacement, renewal or refinancing is effected by means of a &#8220;cashless roll&#8221; by such Lender, such extension, replacement, renewal or refinancing shall be deemed to comply with any requirement hereunder or any other Loan Document that such payment be made &#8220;in Dollars,&#8221; &#8220;in immediately available funds,&#8221; &#8220;in Cash&#8221; or any other similar requirement.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-71-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 1.10&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Certain Calculations and Tests.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary herein, but subject to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 1.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, all financial ratios and tests (including the Total Debt to Total Assets Ratio, the Senior Debt to Total Assets Ratio and the amount of Consolidated Total Assets and the component definitions of any of the foregoing) contained in this Agreement shall be calculated with respect to any applicable Test Period to give effect to all Subject Transactions on a Pro Forma Basis that occurred on or after the first day of such Test Period and on or prior to the date of any required calculation of any financial ratio or test (which may be after the end of such Test Period)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that solely for purposes of calculating quarterly compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, no Subject Transaction occurring after the last day of the Test Period shall be taken into account or given pro forma effect.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;With respect to any Limited Condition Transaction, notwithstanding anything to the contrary in this Agreement&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(i) &#160;&#160;&#160;&#160;To the extent that the terms of this Agreement require (A) the making or accuracy of any representations and warranties (other than in connection with any acquisition or similar Investment, the Specified Representations as related thereto), (B) compliance with any Financial Incurrence Test (including, without limitation, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> hereof, any Total Debt to Total Assets Ratio test or any Senior Debt to Totals Assets Ratio test), and&#47;or any Basket expressed as a percentage of Consolidated Total Assets, (C) the absence of a Default or Event of Default (or any type of Default or Event of Default), (D) compliance with, or determination of availability under, any Basket (including any categories (or subcategories) or items (or sub-items) under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> or any applicable defined terms used in any of the foregoing, including any measured as a percentage of Consolidated Total Assets) or (E) compliance with, or satisfaction of, any other condition or requirement, in each case, in connection with any Limited Condition Transactions (or any actions and transactions in connection with any Limited Condition Transaction (including the incurrence of any Indebtedness (and related Liens) pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">)) and any actions or transactions related thereto, determination of whether the relevant conditions or requirement described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">subclauses (A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">(E)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> above (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">LCT Requirements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221;) are satisfied or complied with may be made, at the election of the Borrower (an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">LCT Election</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221;), on the date (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">LCT Test Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">&#8221;) the definitive agreements for such Limited Condition Transaction is entered into (or, if applicable, the date of delivery of irrevocable notice (which may be conditional or subject to deferral) with respect to Indebtedness or declaration of a Restricted Payment).</font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) &#160;&#160;&#160;&#160;If, after giving effect to the Limited Condition Transaction (any related actions and transactions, including the incurrence of any Indebtedness (and related Liens) pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and the use of proceeds thereof and related Subject Transactions) and any related pro forma adjustments on a Pro Forma Basis, the Borrower or any of its Restricted Subsidiaries would have been permitted to take such actions or consummate such Limited Condition Transaction (and all related actions and transactions) on the relevant LCT Test Date in compliance with any applicable LCT Requirements, all applicable LCT Requirements shall be deemed to have been complied with (or satisfied) for all purposes and the Borrower and its Restricted Subsidiaries may consummate such Limited Condition Transaction and take or consummate all related actions and transactions at any time subsequent to the LCT Test Date regardless of whether any LCT Requirement determined or tested as of the LCT Test Date would at any time subsequent to such LCT Test Date fail to be complied with or satisfied for any reason whatsoever </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-72-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(including due to the occurrence or existence of any event, fact or circumstance), and no Default or Event of Default shall be deemed to have occurred as a result of the consummation of such Limited Condition Transaction and taking or consummation of all related actions and transactions.</font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160; If internal financial statements of the Borrower of the type described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as applicable, are available (as determined in good faith by the Borrower) or such financial statements have been delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as applicable, (a) the Borrower may elect, in its sole discretion, to re-determine compliance with, or satisfaction of, all applicable LCT Requirements on the basis of such financial statements, in which case, such date of re-determination shall thereafter be deemed to be the applicable LCT Test Date for purposes of such ratios, tests or baskets, and (b) except as contemplated in the foregoing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, compliance with such ratios, tests or baskets (and any related requirements and conditions) shall not be determined or tested at any time after the applicable LCT Test Date.</font></div><div style="margin-bottom:12pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv)&#160;&#160;&#160;&#160; In calculating the availability under any ratio, test, basket, cap or threshold in connection with any action or transaction unrelated to such Limited Condition Transaction (including any other Limited Condition Transaction and related actions and transactions) following the relevant LCT Test Date and prior to the earlier of the date on which such Limited Condition Transaction is consummated or the date that the definitive agreement, the notice redemption, purchase or repayment or the declaration for such Limited Condition Transaction is terminated, expires, passes or is revoked, as applicable, without consummation of such Limited Condition Transaction, any such ratio, test, basket, cap or threshold shall be determined or tested giving pro forma effect to such Limited Condition Transaction (and related actions and transactions).  </font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(c)&#160;&#160;&#160;&#160; For purposes of determining the permissibility of any action, change, transaction or event that requires a calculation of any financial ratio or test (including, without limitation, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> hereof, any Total Debt to Total Assets Ratio test, any Senior Debt to Total Assets Ratio test and&#47;or the amount of Consolidated Total Assets), such financial ratio or test shall be calculated at the time such action is taken (subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">clause&#160;(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> above), such change is made, such transaction is consummated or such event occurs, as the case may be, and no Default or Event of Default shall occur or be deemed to have occurred solely as a result of a change in such financial ratio or test occurring after such calculation.  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(d)&#160;&#160;&#160;&#160;Notwithstanding anything in this Agreement or any Loan Document to the contrary, in calculating any Non-Fixed Basket any (x) Indebtedness incurred to fund original issue discount and&#47;or upfront fees with respect to Indebtedness incurred under an applicable Non-Fixed Basket or in a concurrent transaction, a single transaction or a series of related transactions with the amount incurred, or transaction entered into or consummated, under an applicable Non-Fixed Basket and (y) any amounts incurred, or transactions entered into or consummated, in reliance on a Fixed Basket (including the Free and Clear Incremental Amount) in a concurrent transaction, a single transaction or a series of related transactions with the amount incurred, or transaction entered into or consummated, under an applicable Non-Fixed Basket, in each case of the foregoing clauses (x) and (y), shall be disregarded in the calculation of such Non-Fixed Basket.  For all purposes hereunder, (i) &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Fixed Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; shall mean any Basket that is subject to a fixed-dollar limit (including Baskets based on a percentage of Consolidated Total Assets), (ii) &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Non-Fixed Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; shall mean any Basket that is subject to compliance with a financial ratio or test (including, without limitation, the Financial Covenant, the Senior Debt to Total Assets Ratio and the Total Debt to Total Assets Ratio) (any such ratio or test, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Financial Incurrence Test</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221;) and (iii) &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Basket</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; means any amount, threshold, exception or value (including by reference to the Senior Debt to Total Assets Ratio, the Total Debt to Total Assets Ratio or Consolidated Total Assets) permitted or prescribed with respect to any Indebtedness (including any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt), Lien, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Investment, Disposition, Affiliate transaction or any transaction, action, judgment or amount under any provision in this Agreement or any other Loan Document.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-73-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160; The principal amount of any non-interest bearing Indebtedness or other discount security constituting Indebtedness at any date shall be the principal amount thereof that would be shown on a balance sheet of the Borrower dated such date prepared in accordance with GAAP.  The increase in amounts secured by Liens by virtue of accrual of interest, the accretion of accreted value, the payment of interest or dividends in the form of additional Indebtedness, amortization of original issue discount and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies will not be deemed to be an incurrence of Liens for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160; For purposes of determining at any time compliance with, or availability under, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">,&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (including any applicable defined terms used therein)&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:45pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160; In the event that any Indebtedness (including any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt), Lien, Restricted Payment, Restricted Debt Payment, Investment, Disposition, Affiliate transaction or and any related transactions, as applicable, meets the criteria of more than one of the Baskets (including, without limitation, sub-clauses, sub-categories or sub-items) permitted pursuant to any clause of such </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 6.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> with respect to the Initial Term Loans incurred on the Closing Date), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent securing Initial Term Loans incurred on the Closing Date), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or in any defined term used in any of the foregoing, in each case, the Borrower, in its sole discretion, may, at any time and from time to time, divide, classify or reclassify such transaction or item (or portion thereof) under one or more Baskets of each such Section (and&#47;or applicable defined terms) and will only be required to include the amount and type of such transaction (or portion thereof) in any one applicable Basket thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that, upon delivery of any financial statements pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> following the initial incurrence of any portion of any Indebtedness (such portion of Indebtedness, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Subject Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> with respect to the Initial Term Loans incurred on the Closing Date) or, with respect to any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt, incurred under the Non-Ratio Based Incremental Amount, if any such Subject Indebtedness could have been incurred under the Ratio Based Incremental Amount under the Incremental Cap, such Subject Indebtedness shall, unless otherwise elected by the Borrower, automatically be reclassified as incurred under the Ratio Based Incremental Amount (as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the proviso in the definition of &#8220;Incremental Cap&#8221;).  </font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160; It is understood and agreed that (A) any Indebtedness (including any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt), Lien, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Investment, Disposition, Affiliate transaction and any related transactions need not be permitted solely by reference to one category (or subcategory) or item (or sub-item) under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, respectively, or in any applicable defined terms used in any of the foregoing, but may instead be permitted in part under any combination thereof within the applicable Section and&#47;or applicable defined terms and of any other available Basket and (B) the Borrower (x) shall in its sole discretion determine under which Baskets (including sub-categories and sub-items) such Indebtedness (including any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt), Lien, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Investment, Disposition, Affiliate transaction and any related transactions (or, in each case, any portion thereof), as applicable, is permitted and (y) shall be permitted from time to time, in its </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-74-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:49.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">sole discretion, to make any redetermination and&#47;or to divide, re-divide, classify or reclassify under which Baskets (including sub-categories and sub-items) such Indebtedness (including any Incremental Facility, Incremental Term Loan or Incremental Equivalent Debt), Lien, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Investment, Disposition, Affiliate transaction and any related transaction is permitted, including reclassifying any utilization of Fixed Baskets as incurred under any available Non-Fixed Baskets, in each case, within the applicable Section and&#47;or applicable defined terms.  For the avoidance of doubt, if the applicable date for meeting any requirement hereunder or under any other Loan Document falls on a day that is not a Business Day, compliance with such requirement shall not be required until noon on the first Business Day following such applicable date and if any such test would be satisfied in any subsequent fiscal quarter following the relevant date of determination, then such reclassification shall be deemed to have automatically occurred at such time.  For the avoidance of doubt, the amount of any Lien, Indebtedness, Disqualified Stock, Disposition, Investment, Restricted Payment, Restricted Debt Payment, Burdensome Agreement, Affiliate transaction or other transaction, action, judgment or amount that shall be allocated to each such Basket shall be determined by the Borrower at the time of such division, classification, re-division or re-classification, as applicable.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g) &#160;&#160;&#160;&#160;With respect to Designated Revolving Commitments (to the extent loans funded under such Designated Revolving Commitments would constitute Indebtedness) (including Designated Revolving Commitments established as Incremental Equivalent Debt) (i) except for purposes of determining the Net Proceeds Percentage and determining actual compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, such Designated Revolving Commitments will be deemed an incurrence of Indebtedness on the date of the establishment thereof and will be deemed outstanding for purposes of calculating the Senior Debt to Total Assets Ratio, the Total Debt to Total Assets Ratio and the availability of any baskets hereunder and (ii) commencing on the date such Designated Revolving Commitments are established after giving pro forma effect to the incurrence of the entire committed amount of the Indebtedness thereunder (but without netting any cash proceeds thereof), and so long as such incurrence is permitted hereunder on such date of establishment, such committed amount under such Designated Revolving Commitments may thereafter be borrowed (and reborrowed, if applicable), in whole or in part, from time to time, without further compliance with any basket or financial ratio or test under this Agreement.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160; Interest on a Finance Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a Financial Officer of the Borrower to be the rate of interest implicit in such Finance Lease Obligation in accordance with GAAP.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-75-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 1.11. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Interest Rates&#59; Benchmark Notification.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  The interest rate on a Term Loan may be derived from an interest rate benchmark that may be discontinued or is, or may in the future become, the subject of regulatory reform. Upon the occurrence of a Benchmark Transition Event, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> provides a mechanism for determining an alternative rate of interest.  The Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to the administration, submission, performance or any other matter related to any interest rate used in this Agreement with respect to the Term Loans, or with respect to any alternative or successor rate thereto, or replacement rate thereof, including without limitation, whether the composition or characteristics of any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, the existing interest rate being replaced or have the same volume or liquidity as did any existing interest rate prior to its discontinuance or unavailability. The Administrative Agent and its affiliates and&#47;or other related entities may engage in transactions that affect the calculation of any interest rate used in this Agreement with respect to the Term Loans or any alternative, successor or alternative rate (including any Benchmark Replacement) and&#47;or any relevant adjustments thereto, in each case, in a manner adverse to the Borrower. The Administrative Agent may select information sources or services in its reasonable discretion to ascertain any interest rate used in this Agreement with respect to the Term Loans, any component thereof, or rates referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service.</font></div><div style="padding-left:6pt"><font><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"><br>ARTICLE 2<br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">THE CREDITS</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.01. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Commitments.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Subject to the terms and conditions set forth herein, each Initial Term Lender severally, and not jointly, agrees to make an Initial Term Loan to the Borrower on the Closing Date in Dollars in a principal amount not to exceed its Initial Term Loan Commitment.  Amounts paid or prepaid in respect of the Initial Term Loans may not be reborrowed.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160; Subject to the terms and conditions of this Agreement and any applicable Refinancing Amendment or Incremental Facility Amendment, each Lender with an Additional Commitment of a given Class, severally and not jointly, agrees to make Additional Term Loans of such Class to the Borrower, which Loans shall not exceed for any such Lender at the time of any incurrence thereof the Additional Commitment of such Class of such Lender as set forth in the applicable Refinancing Amendment or Incremental Facility Amendment.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the First Amendment, each 2019 Replacement Term Lender severally, and not jointly, agrees to make a 2019 Replacement Term Loan to the Borrower on the First Amendment Effective Date in Dollars in a principal amount not to exceed its 2019 Replacement Term Loan Commitment.  Subject to and upon the terms and conditions set forth in the First Amendment, each 2019 Incremental Term Lender severally, and not jointly, agrees to make a 2019 Incremental Term Loan to the Borrower on the First Amendment Effective Date in Dollars in a principal amount not to exceed its 2019 Incremental Term Loan Commitment. Amounts paid or prepaid in respect of </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-76-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">the 2019 Incremental Term Loans and 2019 Replacement Term Loans may not be reborrowed.  For the avoidance of doubt, the 2019 Replacement Term Loans and 2019 Incremental Term Loans shall constitute, and shall be treated as, a single Class of &#8220;2019 New Term Loans&#8221; and &#8220;Term Loans&#8221; under the Loan Documents. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(d)&#160;&#160;&#160;&#160; Subject to and upon the terms and conditions set forth in the Second Amendment, each Initial Term B-2 Lender severally, and not jointly, agrees to make an Initial Term B-2 Loan to the Borrower on the Second Amendment Effective Date in Dollars in a principal amount not to exceed its Initial Term B-2 Loan Commitment.  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(e) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Third Amendment, each Additional Term B-2 Lender severally, and not jointly, agrees to make an Additional Term B-2 Loan to the Borrower on the Third Amendment Effective Date in Dollars in a principal amount not to exceed its Additional Term B-2 Loan Commitment. Each Additional Term B-2 Loan shall initially take the form of a pro rata increase in each outstanding Borrowing of Initial Term B-2 Loans on the Third Amendment Effective Date.<br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(f) &#160;&#160;&#160;&#160;Amounts paid or prepaid in respect of the Term B-2 Loans may not be reborrowed. For the avoidance of doubt, (x) the Term B-2 Loans shall constitute, and shall be treated as, a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221; under the Loan Documents and (y) the Initial Term B-2 Loans and the Additional Term B-2 Loans shall constitute, and shall be treated as, forming parts of the same Class of &#8220;Term Loans&#8221; under the Loan Documents. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(g) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Fourth Amendment, each Additional 2019 Incremental Term Lender severally, and not jointly, agrees to make an Additional 2019 New Term Loan to the Borrower on the Fourth Amendment Effective Date in Dollars in a principal amount not to exceed its Additional 2019 Incremental Term Loan Commitment. Each Additional 2019 New Term Loan shall initially take the form of a pro rata increase in each outstanding Borrowing of 2019 New Term Loans on the Fourth Amendment Effective Date. Amounts paid or prepaid in respect of the Additional 2019 New Term Loans may not be reborrowed. For the avoidance of doubt, the Additional 2019 New Term Loans shall constitute 2019 New Term Loans under the Loan Documents, and shall be treated as forming a single Class of Term Loans with the 2019 New Term Loans outstanding on the Fourth Amendment Effective Date immediately prior to giving effect to the Fourth Amendment.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(h) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Fifth Amendment, each Replacement Term B-3 Lender severally, and not jointly, agrees to make a Replacement Term B-3 Loan to the Borrower on the Fifth Amendment Effective Date in Dollars in a principal amount not to exceed its Replacement Term B-3 Loan Commitment.  Subject to and upon the terms and conditions set forth in the Fifth Amendment, each Incremental Term B-3 Lender severally, and not jointly, agrees to make an Incremental Term B-3 Loan to the Borrower on the Fifth Amendment Effective Date in Dollars in a principal amount not to exceed its Incremental Term B-3 Loan Commitment. Amounts paid or prepaid in respect of the Incremental Term B-3 Loans and Replacement Term B-3 Loans may not be reborrowed.  For the avoidance of doubt, the Replacement Term B-3 Loans and the Incremental Term B-3 Loans shall constitute, and shall be treated as, a single Class of &#8220;Term B-3 Loans&#8221; and &#8220;Term Loans&#8221; under the Loan Documents.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(i)&#160;&#160;&#160;&#160; Subject to and upon the terms and conditions set forth in the Sixth Amendment, each Term B-4 Lender severally, and not jointly, agrees to make an Initial Term B-4 Loan to the Borrower on the Sixth Amendment Effective Date in Dollars in a principal amount not to exceed its Initial Term B-4 Loan Commitment. Amounts paid or prepaid in respect of the Term B-4 Loans may not be reborrowed. For the avoidance of doubt, the Term B-4 Loans shall constitute, and shall be treated as, a separate Class of &#8220;Term </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-77-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-3 Loans&#8221; , the &#8220;Term B-5 Loans&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:line-through"> and</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> the &#8220;Term B-6 Loans</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#8221; </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">and the &#8220;Term B-7 Loans&#8221; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">under the Loan Documents.    </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Seventh Amendment, each Incremental Term B-4 Lender severally, and not jointly, agrees to make an Incremental Term B-4 Loan to the Borrower on the Seventh Amendment Effective Date in Dollars in a principal amount not to exceed its Incremental Term B-4 Loan Commitment. Each Incremental Term B-4 Loan shall initially take the form of a pro rata increase in each outstanding Borrowing of Initial Term B-4 Loans on the Seventh Amendment Effective Date. For the avoidance of doubt, the Incremental Term B-4 Loans shall constitute Term B-4 Loans under the Loan Documents, and shall be treated as forming a single Class of Term Loans with the Initial Term B-4 Loans outstanding on the Seventh Amendment Effective Date immediately prior to giving effect to the Seventh Amendment. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Tenth Amendment, each Term B-5 Lender severally, and not jointly, agrees to make a Term B-5 Loan to the Borrower on the Tenth Amendment Effective Date in Dollars in a principal amount not to exceed its Term B-5 Loan Commitment. Amounts paid or prepaid in respect of the Term B-5 Loans may not be reborrowed. For the avoidance of doubt, the Term B-5 Loans shall constitute, and shall be treated as, a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-3 Loans&#8221; , the &#8220;Term B-4 Loans&#8221;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through"> and</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> the &#8220;Term B-6 Loans&#8221;</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">and the &#8220;Term B-7 Loans&#8221; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">under the Loan Documents.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l) &#160;&#160;&#160;&#160;Subject to and upon the terms and conditions set forth in the Eleventh Amendment, each Replacement Term B-6 Lender severally, and not jointly, agrees to make a Replacement Term B-6 Loan to the Borrower on the Eleventh Amendment Effective Date in Dollars in a principal amount not to exceed its Replacement Term B-6 Loan Commitment. Subject to and upon the terms and conditions set forth in the Eleventh Amendment, each Incremental Term B-6 Lender severally, and not jointly, agrees to make a Incremental Term B-6 Loan to the Borrower on the Eleventh Amendment Effective Date in Dollars in a principal amount not to exceed its Incremental Term B-6 Loan Commitment</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  Amounts paid or prepaid in respect of the Replacement Term B-6 Loans and Incremental Term B-6 Loans may not be reborrowed. For the avoidance of doubt, the Replacement Term B-6 Loans and Incremental Term B-6 Loans shall constitute, and shall be treated as, a single class of &#8220;Term B-6 Loans&#8221; and &#8220;Term Loans&#8221; under the Loan Documents, and as a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-3 Loans&#8221; , the &#8220;Term B-4 Loans</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">,</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">the &#8221;Term B-5 Loans&#8221;</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">and the &#8220;Term B-7 Loans&#8221; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">under the Loan Documents.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(m)&#160;&#160;&#160;&#160; Subject to and upon the terms and conditions set forth in the Twelfth Amendment, each Replacement Term B-7 Lender severally, and not jointly, agrees to make a Replacement Term B-7 Loan to the Borrower on the Twelfth Amendment Effective Date in Dollars in a principal amount not to exceed its Replacement Term B-7 Loan Commitment. Subject to and upon the terms and conditions set forth in the Twelfth Amendment, each Incremental Term B-7 Lender severally, and not jointly, agrees to make an Incremental Term B-7 Loan to the Borrower on the Twelfth Amendment Effective Date in Dollars in a principal amount not to exceed its Incremental Term B-7 Loan Commitment.  Amounts paid or prepaid in respect of the Replacement Term B-7 Loans and Incremental Term B-7 Loans may not be reborrowed. For the avoidance of doubt, the Replacement Term B-7 Loans and Incremental Term B-7 Loans shall constitute, and shall be treated as, a single Class of &#8220;Term B-7 Loans&#8221; and &#8220;Term Loans&#8221; under the Loan Documents, and as a separate Class of &#8220;Term Loans&#8221; from the &#8220;2019 New Term Loans&#8221;, the &#8220;Term B-3 Loans&#8221; , the &#8220;Term B-4 Loans&#8221;, the &#8221;Term B-5 Loans&#8221; and the &#8220;Term B-6 Loans&#8221; under the Loan Documents.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-78-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.02. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Loans And Borrowings.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160; Each Loan shall be made as part of a Borrowing consisting of Loans of the same Class and Type made by the Lenders ratably in accordance with their respective Commitments of the applicable Class.  </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, each Borrowing of 2019 New Term Loans, Term B-3 Loans, and Term B-4 Loans shall be comprised entirely of ABR Loans or Term Benchmark Loans, in each case, as the Borrower may request in accordance herewith.  Each Lender at its option may make any Term Benchmark Loan or RFR Loan by causing any domestic or foreign branch or Affiliate of such Lender to make such Loan&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (i) any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement, (ii) such Loan shall be deemed to have been made and held by such Lender, and the obligation of the Borrower to repay such Loan shall nevertheless be to such Lender for the account of such domestic or foreign branch or Affiliate of such Lender and (iii) in exercising such option, such Lender shall use reasonable efforts to minimize increased costs to the Borrower resulting therefrom (which obligation of such Lender shall not require it to take, or refrain from taking, actions that it determines would result in increased costs for which it will not be compensated hereunder or that it otherwise determines would be disadvantageous to it and in the event of such request for costs for which compensation is provided under this Agreement, the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall apply)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that no such domestic or foreign branch or Affiliate of such Lender shall be entitled to any greater indemnification under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in respect of any U.S. federal withholding tax with respect to such Loan than that to which the applicable Lender was entitled on the date on which such Loan was made (except in connection with any indemnification entitlement arising as a result of any Change in Law after the date on which such Loan was made).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(c) &#160;&#160;&#160;&#160;At the commencement of each Interest Period for any Term Benchmark Borrowing, such Borrowing shall comprise an aggregate principal amount that is an integral multiple of $50,000 and not less than $250,000.  Each ABR Borrowing or RFR Borrowing when made shall be in a minimum principal amount of $50,000 and in an integral multiple of $50,000.  Borrowings of more than one Type and Class may be outstanding at the same time&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that there shall not at any time be more than a total of twelve Term Benchmark Borrowings or RFR Borrowings at any time outstanding (in each case, or such greater number as the Administrative Agent may agree from time to time).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(d) &#160;&#160;&#160;&#160;Notwithstanding any other provision of this Agreement, the Borrower shall not, nor shall it be entitled to, request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date applicable to the relevant Loans.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(e) &#160;&#160;&#160;&#160;Notwithstanding any other provision of this Agreement, and except as otherwise set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, there shall be no RFR Loans or RFR Borrowings prior to there being a Benchmark Transition Event that results in Daily Simple SOFR or Adjusted Daily Simple SOFR, as applicable, being the Benchmark Replacement in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Sections 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> for Borrowings of 2019 New Term Loans, Term B-3 Loans, or Term B-4 Loans, as applicable. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 2.03.&#160;&#160;&#160;&#160;  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Requests for Borrowings. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">  Each Term Loan Borrowing, each conversion of Term Loans from one Type to another, and each continuation of Term Benchmark Loans shall be made upon irrevocable notice by the Borrower to the Administrative Agent (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that notices in respect of Term Loan Borrowings to be made in connection with any acquisition, investment or irrevocable repayment or redemption of Indebtedness may be conditioned on the closing of such Permitted Acquisition, permitted Investment or permitted irrevocable repayment or redemption of Indebtedness).&#160; Each such notice must be in the form of a written Borrowing Request, appropriately completed and signed by a Responsible Officer of the Borrower and must be received by the Administrative Agent (by hand delivery, fax or other </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-79-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">electronic transmission (including &#8220;.pdf&#8221; or &#8220;.tif&#8221;)) not later than (i) 1&#58;00 p.m. three Business Days prior to the requested day of any Borrowing, conversion or continuation of Term Benchmark Loans, (ii) 1&#58;00 p.m. on the requested date of any Borrowing of ABR Loans and (iii) 11&#58;00 a.m. five Business Days prior to the requested day of any Borrowing of RFR Loans (or, in each case, such later time as is reasonably acceptable to the Administrative Agent).</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing.  If no Interest Period is specified with respect to any requested Term Benchmark Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month&#8217;s duration. The Administrative Agent shall advise each Lender of the details and amount of any Loan to be made as part of the relevant requested Borrowing (x) in the case of any ABR Borrowing, on the same Business Day of receipt of a Borrowing Request in accordance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or (y) in the case of any Term Benchmark Borrowing or RFR Borrowing, no later than one Business Day following receipt of a Borrowing Request in accordance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.04. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;Reserved&#93;.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.05. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;Reserved&#93;.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.06. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;Reserved&#93;.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.07. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Funding of Borrowings.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Each Lender shall make each Loan to be made by it hereunder not later than (i) 1&#58;00 p.m., in the case of Term Benchmark Loans and RFR Loans, and (ii) 2&#58;00 p.m., in the case of ABR Loans (or, in the case of ABR Loans requested after 11&#58;00 a.m. but before 1&#58;00 p.m. on the date of the applicable Borrowing, 4&#58;00 p.m.), in each case on the Business Day specified in the applicable Borrowing Request by wire transfer of immediately available funds to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders in an amount equal to such Lender&#8217;s respective Applicable Percentage. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to the account designated in the relevant Borrowing Request or as otherwise directed by the Borrower.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(b) &#160;&#160;&#160;&#160;Unless the Administrative Agent has received notice from any Lender that such Lender will not make available to the Administrative Agent such Lender&#8217;s share of any Borrowing prior to the proposed date of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">paragraph (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> and may, in reliance upon such assumption, make available to the Borrower a corresponding amount.  In such event, if any Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand (without duplication) such corresponding amount with interest thereon, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to Loans comprising such Borrowing at such time.  If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender&#8217;s Loan included in such Borrowing and the obligation of the Borrower to repay the Administrative Agent such corresponding amount pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;2.07(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> shall cease.  If the Borrower pays such amount to the Administrative Agent, the amount so paid shall constitute a repayment of such Borrowing by such amount.  Nothing herein shall be deemed to relieve any Lender from its obligation </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-80-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Borrower or any other Loan Party may have against any Lender as a result of any default by such Lender hereunder.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.08. Type&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Interest Elections.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Each Borrowing shall initially be of the Type specified in the applicable Borrowing Request and, in the case of any Term Benchmark Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, subject to the first sentence of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower may elect to convert any Borrowing to a Borrowing of a different Type or to continue such Borrowing and, in the case of a Term Benchmark Borrowing, may elect Interest Periods therefor, all as provided in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">. The Borrower may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders based upon their Applicable Percentages and the Loans comprising each such portion shall be considered a separate Borrowing.  </font></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> </font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;To make an election pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower shall deliver an Interest Election Request, appropriately completed and signed by a Responsible Officer of the Borrower, of the applicable election to the Administrative Agent&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that, in each case under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.08(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, such Interest Election Request must be received by the Administrative Agent (by hand delivery, fax or other electronic transmission (including &#8220;.pdf&#8221; or &#8220;.tif&#8221;)) not later than (i) 1&#58;00 p.m. three Business Days prior to the requested day of any Borrowing, conversion or continuation of Term Benchmark Loans, (ii) 1&#58;00 p.m. on the requested date of any Borrowing of ABR Loans and (iii) 11&#58;00 a.m. five Business Days prior to the requested day of any Borrowing of RFR Loans (or, in each case, such later time as is reasonably acceptable to the Administrative Agent).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">If any such Interest Election Request requests a Term Benchmark Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month&#8217;s duration.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160; Promptly following receipt of an Interest Election Request, the Administrative Agent shall advise each applicable Lender of the details thereof and of such Lender&#8217;s portion of each resulting Borrowing.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(d) &#160;&#160;&#160;&#160;If the Borrower fails to deliver a timely Interest Election Request with respect to a Term Benchmark Borrowing prior to the end of the Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, such Borrowing shall be converted at the end of such Interest Period to an ABR Borrowing.  Notwithstanding anything to the contrary herein, if an Event of Default exists and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as such Event of Default exists (i) no outstanding Borrowing may be converted to or continued as a Term Benchmark Borrowing and (ii) unless repaid, each Term Benchmark Borrowing shall be converted to an ABR Borrowing at the end of the then-current Interest Period applicable thereto.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-81-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.09. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Termination of Commitments.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Unless previously terminated, (i) the Initial Term Loan Commitments on the Closing Date shall automatically terminate upon the making of the Initial Term Loans on the Closing Date, (ii) the 2019 Replacement Term Loan Commitments on the First Amendment Effective Date shall automatically terminate upon the making of the 2019 Replacement Term Loans on the First Amendment Effective Date, (iii) the 2019 Incremental Term Loan Commitments on the First Amendment Effective Date shall automatically terminate upon the making of the 2019 Incremental Term Loans on the First Amendment Effective Date, (iv) the Initial Term B-2 Loan Commitments on the Second Amendment Effective Date shall automatically terminate upon the making of the Initial Term B-2 Loans on the Second Amendment Effective Date, (v) the Additional Term B-2 Loan Commitments on the Third Amendment Effective Date shall automatically terminate upon the making of the Additional Term B-2 Loans on the Third Amendment Effective Date, (vi) the Additional 2019 Incremental Term Loan Commitments on the Fourth Amendment Effective Date shall automatically terminate upon the making of the Additional 2019 New Term Loans on the Fourth Amendment Effective Date, (vii) the Replacement Term B-3 Loan Commitments on the Fifth Amendment Effective Date shall automatically terminate upon the making of the Replacement Term B-3 Loans on the Fifth Amendment Effective Date, (viii) the Incremental Term B-3 Loan Commitments on the Fifth Amendment Effective Date shall automatically terminate upon the making of the Incremental Term B-3 Loans on the Fifth Amendment Effective Date, (ix) the Initial Term B-4 Loan Commitments on the Sixth Amendment Effective Date shall automatically terminate upon the making of the Initial Term B-4 Loans on the Sixth Amendment Effective Date, (x) the Incremental Term B-4 Loan Commitments on the Seventh Amendment Effective Date shall automatically terminate upon the making of the Incremental Term B-4 Loans on the Seventh Amendment Effective Date, (xi) the Term B-5 Loan Commitments on the Tenth Amendment Effective Date shall automatically terminate upon the making of the Term B-5 Loans on the Tenth Amendment Effective Date, (xii) the Replacement Term B-6 Loan Commitments on the Eleventh Amendment Effective Date shall automatically terminate upon the making of the Replacement Term B-6 Loans on the Eleventh Amendment Effective Date, (xiii) the Incremental Term B-6 Loan Commitments on the Eleventh Amendment Effective Date shall automatically terminate upon the making of the Incremental Term B-6 Loans on the Eleventh Amendment Effective Date</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (xiv</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">) the Replacement Term B-7 Loan Commitments on the Twelfth Amendment Effective Date shall automatically terminate upon the making of the Replacement Term B-7 Loans on the Twelfth Amendment Effective Date, (xv) the Incremental Term B-7 Loan Commitments on the Twelfth Amendment Effective Date shall automatically terminate upon the making of the Incremental Term B-7 Loans on the Twelfth Amendment Effective Date and (xvi</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) the Additional Term Loan Commitments of any Class shall automatically terminate upon the making of the Additional Term Loans of such Class and, if any such Additional Term Loan Commitment is not drawn on the date that such Additional Term Loan Commitment is required to be drawn pursuant to the applicable Refinancing Amendment or Incremental Facility Amendment, the undrawn amount thereof shall automatically terminate.<br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.10. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Repayment of Loans&#59; Evidence of Debt.</font></div><div style="margin-top:2pt;text-indent:18pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(a)       (i)&#160;The Borrower hereby unconditionally promises to repay the outstanding principal amount of the 2019 New Term Loans (including, for the avoidance of doubt, from and after the Fourth Amendment Effective Date, the Additional 2019 New Term Loans) to the Administrative Agent for the account of each Term Lender (x) commencing March 31, 2021, on the last Business Day of each March, June, September and December (each such date being referred to as a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Loan Installment Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221;) prior to the Initial Term Loan Maturity Date, in each case in an amount equal to 0.253164557% of the principal amount of the 2019 New Term Loans outstanding on the Fourth Amendment Effective Date immediately after giving effect to the funding of the Additional 2019 New Term Loans (as such payments may be reduced from time to time as a result of the application of prepayments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> and repurchases in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or increased as a result of any increase in the amount of such 2019 New Term Loans </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-82-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">), and (y)&#160;on the Initial Term Loan Maturity Date, in an amount equal to the remainder of the principal amount of the 2019 New Term Loans outstanding on such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. </font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(ii)&#160;&#160;&#160;&#160;The Borrower hereby unconditionally promises to repay the outstanding principal amount of the Term B-3 Loans to the Administrative Agent for the account of each Term Lender (x) commencing June 30, 2021, on each Loan Installment Date prior to the Initial Term Loan Maturity Date, in each case in an amount equal to 0.25% of the original principal amount of the Term B-3 Loans (as such payments may be reduced from time to time as a result of the application of prepayments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and repurchases in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or increased as a result of any increase in the amount of such Term B-3 Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">), and (y)&#160;on the Initial Term Loan Maturity Date, in an amount equal to the remainder of the principal amount of the Term B-3 Loans outstanding on such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(iii)&#160;&#160;&#160;&#160;The Borrower hereby unconditionally promises to repay the outstanding principal amount of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">(including, for the avoidance of doubt, from and after the Seventh Amendment Effective Date, the Incremental Term B-4 Loans) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> to the Administrative Agent for the account of each Term Lender (x) commencing December 31, </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">2022</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">2025</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, on each Loan Installment Date prior to the Maturity Date of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans, in each case in an amount equal </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">to 0.25062656642</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">0.25</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">% of the principal amount of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans outstanding on the </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">Seventh</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Twelfth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Amendment Effective Date immediately after giving effect to the funding of the </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">Incremental </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans (as such payments may be reduced from time to time as a result of the application of prepayments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and repurchases in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or increased as a result of any increase in the amount of such Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">), and (y)&#160;on the Maturity Date of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans, in an amount equal to the remainder of the principal amount of the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans outstanding on such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluding the date of such payment. </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(iv)&#160;&#160;&#160;&#160;The Borrower hereby unconditionally promises to repay the outstanding principal amount of the Term B-6 Loans to the Administrative Agent for the account of each Term Lender (x) commencing on September 30, 2025, on each Loan Installment Day prior to the Maturity Date of the Term B-6 Loans, in each case in an amount equal to 0.25% of the principal amount of the Term B-6 Loans outstanding on the Eleventh Amendment Effective Date immediately after giving effect to the funding of the Term B-6 Loans (as such payments may be reduced from time to time as a result of the application of prepayments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and repurchases in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or increased as a result of any increase in the amount of such Term B-6 Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, and (y) on the Maturity Date of the Term B-6 Loans, in an amount equal to the remainder of the Term B-6 Loans outstanding on such date, together in each case with accrued and unpaid interest on the principal amount to be paid to but excluded the date of such payment. </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(v) &#160;&#160;&#160;&#160;The Borrower shall repay the Additional Term Loans of any Class in such scheduled amortization installments and on such date or dates as shall be specified therefor in the applicable Refinancing Amendment, Incremental Facility Agreement or Extension Amendment (as such payments may be reduced from time to time as a result of the application of prepayments in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or repurchases in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or increased as a result of any increase in the amount of such Additional Term Loans of such Class pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 2.22(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">).</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the Indebtedness of the Borrower to such Lender resulting from each Loan made by such </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-83-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;The Administrative Agent shall maintain the Register in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, and shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Class and Type thereof and the Interest Period (if any) applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender&#8217;s share thereof.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(d) &#160;&#160;&#160;&#160;The entries made in the accounts maintained pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">paragraphs (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that the failure of any Lender or the Administrative Agent to maintain such accounts or any manifest error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, that in the event of any inconsistency between the accounts maintained by the Administrative Agent pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">paragraph (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> of this Section and any Lender&#8217;s records, the accounts of the Administrative Agent shall govern.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160; Any Lender may request that any Loan made by it be evidenced by a Promissory Note.  In such event, the Borrower shall prepare, execute and deliver a Promissory Note to such Lender payable to such Lender and its registered assigns&#59; it being understood and agreed that such Lender (and&#47;or its applicable assign) shall be required to return such Promissory Note to the Borrower in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(b)(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and upon the occurrence of the Termination Date (or as promptly thereafter as practicable).  If any Lender loses the original copy of its Promissory Note, it shall execute an affidavit of loss containing an indemnification provision reasonably satisfactory to the Borrower.</font></div><div><font><br></font></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.11. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Prepayment of Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(a) Optional Prepayments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;Upon prior notice in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (a)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower shall have the right at any time and from time to time to prepay any Borrowing of Term Loans of one or more Classes (such Class or Classes to be selected by the Borrower in its sole discretion) in whole or in part without premium or penalty (but subject (A) in the case of Borrowings of Term B-4 Loans only, to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.12(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (B) if applicable, to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">). Each such prepayment shall be paid to the Lenders in accordance with their respective Applicable Percentages of the relevant Class. </font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;The Borrower shall notify the Administrative Agent in writing of any prepayment under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (x) in the case of any prepayment of a Term Benchmark Borrowing, not later than 2&#58;00 p.m. three Business Days before the date of prepayment, (y) in the case of any prepayment of an ABR Borrowing, not later than 1&#58;00 p.m. on the day of prepayment or (z) in the case of any prepayment of an RFR Borrowing, not later than 11&#58;00 a.m. five Business Days before the date of prepayment (or, in each case, such later time as to which the Administrative Agent may reasonably agree).  Each such notice shall be irrevocable (except as set forth in the proviso to this sentence) and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof or each relevant Class to be prepaid&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that any notice of prepayment delivered by the Borrower may be conditioned upon the effectiveness of other transactions, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied.  Promptly following receipt of any such notice relating to any Borrowing, the Administrative Agent shall advise the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-84-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">applicable Lenders of the contents thereof.  Each partial prepayment of any Borrowing shall be in an amount at least equal to the amount that would be permitted in the case of a Borrowing of the same Type and Class as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, or such lesser amount that is then outstanding with respect to such Borrowing being repaid (and in increments of $100,000 in excess thereof or such lesser incremental amount that is then outstanding with respect to such Borrowing being repaid).  Each prepayment of Term Loans shall be applied to the Class or Classes of Term Loans specified in the applicable prepayment notice and consistent with the requirements hereof, and each prepayment of Term Loans of such Class or Classes made pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be applied against the remaining scheduled installments of principal due in respect of the Term Loans of such Class or Classes in the manner specified by the Borrower or, in the absence of any such specification on or prior to the date of the relevant optional prepayment, in direct order of maturity.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Mandatory Prepayments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;&#91;Reserved&#93;.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;No later than the fifth Business Day following the receipt of Net Proceeds in respect of any Prepayment Asset Sale or Net Insurance&#47;Condemnation Proceeds, in each case, in excess of $15,000,000 in any Fiscal Year, the Borrower shall apply an amount equal to 100% (such percentage, as it may be reduced as described below, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Net Proceeds Percentage</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) of the Net Proceeds or Net Insurance&#47;Condemnation Proceeds received with respect thereto in excess of such threshold (collectively, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Subject Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) to prepay the outstanding principal amount of Term Loans then subject to prepayment requirements (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Subject Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (A)&#160;so long as the Borrower does not notify the Administrative Agent in writing prior to the date any such prepayment is required to be made that it does not intend to (I) reinvest (including to make capital expenditures) the Subject Proceeds in the business (other than Cash or Cash Equivalents) (including, without limitation, investments in CRE Finance Assets and Real Estate Investments) of the Borrower or any of its Restricted Subsidiaries, then, the Borrower shall not be required to make a mandatory prepayment under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in respect of the Subject Proceeds to the extent (x) the Subject Proceeds are so reinvested within 18 months following receipt thereof, or (y) the Borrower or any of its Restricted Subsidiaries has committed to so reinvest the Subject Proceeds during such 18 month period and the Subject Proceeds are so reinvested within 180 days after the expiration of such 18 month period (it being understood that if the Subject Proceeds have not been so reinvested prior to the expiration of the applicable period, the Borrower shall promptly prepay the Subject Loans with the amount of Subject Proceeds not so reinvested as set forth above in this clause (I)) (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that, with respect to this clause (I), at the Borrower&#8217;s election by written notice to the Administrative Agent, expenditures and investments occurring prior to receipt of the relevant Subject Proceeds (and not otherwise applied in respect of any other prepayment required by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), but after the definitive agreement governing the transaction from which such Subject Proceeds were generated was entered into, may be deemed to have been reinvested after receipt of such Subject Proceeds) or (II) apply the Subject Proceeds to prepay amounts outstanding under any (x) Asset Financing Facility secured directly or indirectly by CRE Finance Assets or any (y) CRE Financing, then, the Borrower shall not be required to make a mandatory prepayment under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in respect of the Subject Proceeds to the extent the Subject Proceeds are so applied within 18 months following receipt thereof (it being understood that if the Subject Proceeds have not been so applied prior to the expiration of the applicable period, the Borrower shall promptly prepay the Subject Loans with the amount of Subject Proceeds not so applied to repay such amounts as set forth above in this clause (II)) and (B)&#160;if, at the time that any such prepayment would be required hereunder, the Borrower or any of its Restricted Subsidiaries is required to Prepay any other Indebtedness that is secured on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> basis with the Obligations by the documentation governing such other Indebtedness (such other Indebtedness, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Other Applicable Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), then the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-85-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">relevant Person may apply the Subject Proceeds on a pro rata basis to the prepayment of the Subject Loans and to the Prepayment of the Other Applicable Indebtedness (determined on the basis of the aggregate outstanding principal amount of the Subject Loans and the Other Applicable Indebtedness (or accreted amount if such Other Applicable Indebtedness is issued with original issue discount) at such time)&#59; it being understood that (1)&#160;the portion of the Subject Proceeds allocated to the Other Applicable Indebtedness shall not exceed the amount of the Subject Proceeds required to be allocated to the Other Applicable Indebtedness pursuant to the terms thereof, and the remaining amount, if any, of the Subject Proceeds shall be allocated to the Subject Loans in accordance with the terms hereof, and the amount of the prepayment of the Subject Loans that would have otherwise been required pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be reduced accordingly and (2)&#160;to the extent the holders of the Other Applicable Indebtedness decline to have such Indebtedness Prepaid, the declined amount shall promptly (and in any event within ten Business Days after the date of such rejection) be applied to prepay the Subject Loans to the extent required in accordance with the terms of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Notwithstanding the foregoing, (x) the Net Proceeds Percentage shall be 50.0% if the Senior Debt to Total Assets Ratio for the Test Period most recently ended prior to the date of such required prepayment is less than or equal to 70.0% and greater than 64.5% (with the Net Proceeds Percentage being calculated after giving pro forma effect to such prepayment at a rate of 100.0%), (y) the Net Proceeds Percentage shall be 25.0% if the Senior Debt to Total Assets Ratio for the Test Period most recently ended prior to the date of such required prepayment is less than or equal to 64.5% and greater than 60.0% (with the Net Proceeds Percentage being calculated after giving pro forma effect to such prepayment at a rate of 50.0%) and (z) the Net Proceeds Percentage shall be 0.0% if the Senior Debt to Total Assets Ratio for the Test Period most recently ended prior to the date of such required prepayment is less than or equal to 60.0% (with the Net Proceeds Percentage being calculated after giving pro forma effect to such prepayment at a rate of 25.0%).</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160;In the event that the Borrower or any of its Restricted Subsidiaries receives Net Proceeds from the issuance or incurrence of Indebtedness by the Borrower or any of its Restricted Subsidiaries (other than Indebtedness that is permitted to be incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, except to the extent the relevant Indebtedness constitutes (A) Refinancing Indebtedness (including Replacement Notes) incurred to refinance all or a portion of any Class of Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(p)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (B) Incremental Term Loans incurred to refinance all or a portion of any Class of Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (C) Replacement Term Loans incurred to refinance all or any portion of any Class of Term Loans in accordance with the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and&#47;or (D) Incremental Equivalent Debt incurred to refinance all or a portion of any Class of Term Loans in accordance with the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, in each case to the extent required by the terms hereof or thereof to prepay or offer to prepay such Indebtedness), the Borrower shall, promptly upon (and in any event not later than two Business Days thereafter) the receipt thereof of such Net Proceeds by the Borrower or its applicable Restricted Subsidiary, apply an amount equal to 100% of such Net Proceeds to prepay the outstanding principal amount of the relevant Class or Classes of Term Loans in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv)&#160;&#160;&#160;&#160;Notwithstanding anything in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the contrary&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(A) &#160;&#160;&#160;&#160;the Borrower shall not be required to prepay any amount that would otherwise be required to be paid pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above to the extent that the relevant Prepayment Asset Sale is consummated by any Foreign Subsidiary or the relevant Net Insurance&#47;Condemnation Proceeds are received by any Foreign Subsidiary, as the case may be, for so long as the repatriation to the Borrower of any such amount would be prohibited or delayed under any Requirement of Law or conflict with the fiduciary duties of such Foreign Subsidiary&#8217;s directors, or result in, or could reasonably be expected to result in, a material risk of personal, civil or criminal liability for any officer, director, employee, manager, member of management or consultant of such </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-86-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Foreign Subsidiary (it being agreed that, solely within 365 days following the event giving rise to the relevant Subject Proceeds, the Borrower shall take all commercially reasonable actions required by applicable Requirements of Law to permit such repatriation) (it being understood that if the repatriation of the relevant Subject Proceeds is permitted under the applicable Requirement of Law and, to the extent applicable, would no longer conflict with the fiduciary duties of such director, or result in, or be reasonably expected to result in, a material risk of personal, civil or criminal liability for the Persons described above, in either case, an amount equal to such Subject Proceeds will be promptly applied (net of additional Taxes that would be payable or reserved against as a result of repatriating such amounts) to the repayment of the applicable Term Loans pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent required herein (without regard to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)),</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(B) &#160;&#160;&#160;&#160;the Borrower shall not be required to prepay any amount that would otherwise be required to be paid pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent that the relevant Subject Proceeds are received by any joint venture, in each case, solely with respect to any joint venture that is a Restricted Subsidiary, for so long as the distribution to the Borrower of such Subject Proceeds would be prohibited under the Organizational Documents governing such joint venture by any provision not entered into in contemplation of the Closing Date or of receipt of such Subject Proceeds&#59; it being understood that if the relevant prohibition ceases to exist, the relevant joint venture that is a Restricted Subsidiary will promptly distribute the relevant Subject Proceeds, and the distributed Subject Proceeds will be promptly (and in any event not later than two Business Days after such distribution) applied to the repayment of the applicable Term Loans pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent required herein (without regard to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(C)&#160;&#160;&#160;&#160; to the extent that the relevant Prepayment Asset Sale is consummated by any Foreign Subsidiary or the relevant Net Insurance&#47;Condemnation Proceeds are received by any Foreign Subsidiary, if the Borrower determines in good faith that the repatriation (or other intercompany distribution) to the Borrower, directly or indirectly, from a Foreign Subsidiary as a distribution or dividend of any amounts required to mandatorily prepay the Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above would result in a material adverse Tax liability (taking into account any withholding Tax) (the amount attributable to such Foreign Subsidiary, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Restricted Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the amount that the Borrower shall be required to mandatorily prepay pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, as applicable, shall be reduced by the Restricted Amount&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that to the extent that the repatriation (or other intercompany distribution) of the relevant Subject Proceeds, directly or indirectly, from the relevant Foreign Subsidiary would no longer have a material adverse tax consequence within the 365 day period following the event giving rise to the relevant Subject Proceeds, an amount equal to the Subject Proceeds to the extent available, and not previously applied pursuant to this clause (C), shall be promptly applied to the repayment of the applicable Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as otherwise required above&#59;</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(v)&#160;&#160;&#160;&#160;Any Term Lender may elect, by notice to the Administrative Agent at or prior to the time and in the manner specified by the Administrative Agent, prior to any prepayment of Term Loans required to be made by the Borrower pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, to decline all (but not a portion) of its Applicable Percentage of such prepayment (such declined amounts, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Declined Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">&#8221;), in which case such Declined Proceeds may be retained by the Borrower&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> that, for the avoidance of doubt, no Lender may reject any prepayment made under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 2.11(b)(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> above to the extent that such prepayment is made with the Net Proceeds of (w) Refinancing Indebtedness (including Replacement Notes) incurred to refinance all or a portion of the Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 6.01(p)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, (x) Incremental Term Loans incurred to refinance all or a portion of the Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, (y)&#160;Replacement Term Loans incurred to refinance all or any portion of the Term Loans in accordance with the requirements </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-87-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, and&#47;or (z)&#160;Incremental Equivalent Debt incurred to refinance all or a portion of the Term Loans in accordance with the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 6.01(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">.  If any Lender fails to deliver a notice to the Administrative Agent of its election to decline receipt of its Applicable Percentage of any mandatory prepayment within the time frame specified by the Administrative Agent, such failure will be deemed to constitute an acceptance of such Lender&#8217;s pro rata share of the total amount of such mandatory prepayment of Term Loans.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(vi)&#160;&#160;&#160;&#160;Except as otherwise contemplated by this Agreement or provided in, or intended with respect to, any Refinancing Amendment, any Incremental Facility Amendment or any Extension Amendment or the definitive documentation governing any Replacement Notes (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, that such Refinancing Amendment, Incremental Facility Amendment or Extension Amendment may not provide that the applicable Class of Term Loans receive a greater than pro rata portion of mandatory prepayments of Term Loans pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> than would otherwise be permitted by this Agreement), in each case effectuated or issued in a manner consistent with this Agreement, each mandatory prepayment of applicable Term Loans pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be applied ratably to each Class and Type of Term Loans then outstanding which is </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.20pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> with the 2019 New Term Loans, the Term B-3 Loans and&#47;or the Term B-4 Loans in right of payment and with respect to security (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that any prepayment of applicable Term Loans with the Net Proceeds of any Refinancing Indebtedness, Incremental Facility or Replacement Term Loans shall be applied to the applicable Class and Type of Term Loans being refinanced or replaced).  With respect to each relevant Class and Type of Term Loans, all accepted prepayments under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be applied against the remaining scheduled installments of principal due in respect of such Term Loans as directed by the Borrower (or, in the absence of direction from the Borrower, to the remaining scheduled amortization payments in respect of such Term Loans in direct order of maturity </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that such prepayments may not be directed to a later maturing Class of Term Loans without at least a pro rata repayment of any earlier maturing Classes of Term Loans), and each such prepayment shall be paid to the applicable Term Lenders in accordance with their respective Applicable Percentage of the applicable Class.</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(vii)&#160;&#160;&#160;&#160;Prepayments made under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be (A)&#160;accompanied by accrued interest as required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, (B)&#160;subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and (C)&#160;in the case of prepayments of Term B-4 Loans under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> above that constitute a Repricing Transaction, subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;2.12(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, but shall otherwise be without premium or penalty.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 2.12. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Fees.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(a)&#160;&#160;&#160;&#160; The Borrower agrees to pay to the Administrative Agent, for its own account, the annual administration fee separately agreed in writing between the Borrower and JPMCB. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b)&#160;&#160;&#160;&#160; All fees payable hereunder shall be paid on the dates due, in Dollars and in immediately available funds, to the Administrative Agent. Fees paid shall not be refundable under any circumstances except, as to the annual administration fee payable to the Administrative Agent, as otherwise provided in the written agreement referred to in clause (a) above. Fees payable hereunder shall accrue through and including the last day of the month immediately preceding the applicable fee payment date. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c) &#160;&#160;&#160;&#160;In the event that, on or prior to the date that is 6 months after the Eleventh Amendment Effective Date, the Borrower (i)&#160;prepays, repays, refinances, substitutes or replaces any Term B-6 Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;2.11(b)(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that constitutes a Repricing Transaction), or (ii)&#160;effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Term Lenders, (A) in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, a premium of 1.00% of the aggregate principal amount of the Term B-6 Loans so prepaid, repaid, refinanced, substituted or replaced and (B) in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, a fee </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-88-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">equal to 1.00% of the aggregate principal amount of the Term B-6 Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is 6 months after the Eleventh Amendment Effective Date, all or any portion of the Term B-6 Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.19(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> in connection with such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment that constitutes, and which actually and directly results in, a Repricing Transaction, such prepayment, repayment, refinancing, substitution or replacement will be made at 101.00% of the principal amount so prepaid, repaid, refinanced, substituted or replaced.</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">In the event that, on or prior to the date that is 6 months after the Twelfth Amendment Effective Date, the Borrower (i)&#160;prepays, repays, refinances, substitutes or replaces any Term B-7 Loans in connection with a Repricing Transaction (including, for the avoidance of doubt, any prepayment made pursuant to Section&#160;2.11(b)(iii) that constitutes a Repricing Transaction), or (ii)&#160;effects any amendment, modification or waiver of, or consent under, this Agreement resulting in a Repricing Transaction, the Borrower shall pay to the Administrative Agent, for the ratable account of each of the applicable Term Lenders, (A) in the case of clause (i), a premium of 1.00% of the aggregate principal amount of the Term B-7 Loans so prepaid, repaid, refinanced, substituted or replaced and (B) in the case of clause (ii), a fee equal to 1.00% of the aggregate principal amount of the Term B-7 Loans that are the subject of such Repricing Transaction outstanding immediately prior to such amendment. If, on or prior to the date that is 6 months after the Twelfth Amendment Effective Date, all or any portion of the Term B-7 Loans held by any Term Lender are prepaid, repaid, refinanced, substituted or replaced pursuant to Section 2.19(b)(iv) in connection with such Term Lender not agreeing or otherwise consenting to any waiver, consent, modification or amendment that constitutes, and which actually and directly results in, a Repricing Transaction, such prepayment, repayment, refinancing, substitution or replacement will be made at 101.00% of the principal amount so prepaid, repaid, refinanced, substituted or replaced. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">All such amounts shall be due and payable on the date of effectiveness of such Repricing Transaction.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">(d) &#160;&#160;&#160;&#160;Unless otherwise indicated herein, all computations of fees shall be made on the basis of a 360-day year and shall be payable for the actual days elapsed (including the first day but excluding the last day).  Each determination by the Administrative Agent of a fee hereunder shall be conclusive and binding for all purposes, absent manifest error.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">Section 2.13. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">Interest.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">(a) &#160;&#160;&#160;&#160;The Term Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> the Applicable Rate.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">(b) &#160;&#160;&#160;&#160;&#91;Reserved&#93;.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">(c) &#160;&#160;&#160;&#160;The Term Loans comprising each Term Benchmark Borrowing of Term</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:line-through">-4 Loans,  Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">-6</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">Loans or Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">-7</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">Loans shall bear interest at the Term SOFR Rate for the Interest Period in effect for such Borrowing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> the Applicable Rate. The Term Loans comprising each Term Benchmark Borrowing of 2019 New Term Loans or Term B-3 Loans shall bear interest at the Adjusted Term SOFR Rate for the Interest Period in effect for such Borrowing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> the Applicable Rate</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">.   </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">(d) &#160;&#160;&#160;&#160;The Term Loans comprising each RFR Borrowing of Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">-6</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">Loans or Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">-7</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt">Loans shall bear interest at a rate per annum equal to Daily Simple SOFR </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> the Applicable Rate.  The Term Loans comprising each RFR Borrowing of 2019 New Term Loans or Term B-3 Loans shall bear interest at the Adjusted Daily Simple SOFR </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.20pt"> the Applicable Rate.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(e)&#160;&#160;&#160;&#160;Notwithstanding the foregoing but in all cases subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, if any principal of or interest on any Term Loan or any fee payable by the Borrower hereunder is not, in each case, paid or reimbursed when due, whether at stated maturity, upon acceleration or otherwise, the relevant overdue </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-89-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">amount shall bear interest, to the fullest extent permitted by applicable Requirements of Law, after as well as before judgment, at a rate per annum equal to (i) in the case of overdue principal or interest of any Term Loan, 2.00% </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> the rate otherwise applicable to such Term Loan as provided in the preceding paragraphs of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or (ii) in the case of any other amount, 2.00% </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> the rate applicable to Term Loans that are ABR Loans as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">paragraph</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that no amount shall accrue pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section&#160;2.13(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender is a Defaulting Lender.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(f) Accrued interest on each Term Loan shall be payable in arrears on each Interest Payment Date for such Term Loan and on the Maturity Date applicable to such Loan&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that (A) interest accrued pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">paragraph (e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> shall be payable on demand, (B) in the event of any repayment or prepayment of any Term Loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (C) in the event of any conversion of any Term Benchmark Loan prior to the end of the current Interest Period therefor, accrued interest on such Term Loan shall be payable on the effective date of such conversion.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(g)&#160;&#160;&#160;&#160; All interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day).  The applicable Alternate Base Rate, Term SOFR Rate, Adjusted Term SOFR Rate, Daily Simple SOFR or Adjusted Daily Simple SOFR shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error.  Interest shall accrue on each Loan for the day on which the Loan is made and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that any Loan that is repaid on the same day on which it is made shall bear interest for one day.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Section 2.14. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Alternate Rate of Interest.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(a) &#91;Reserved&#93;.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(b) &#91;Reserved&#93;.</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(c) &#91;Reserved&#93;.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(d) Subject to clauses (e) &#8211; (i) of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, if&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:22.5pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(i) &#160;&#160;&#160;&#160;the Administrative Agent determines (which determination shall be conclusive absent manifest error) (A) prior to the commencement of any Interest Period for a Term Benchmark Borrowing, that adequate and reasonable means do not exist for ascertaining the Term SOFR Rate (including because the Term SOFR Reference Rate is not available or published on a current basis), for such Interest Period or (B) at any time, that adequate and reasonable means do not exist for ascertaining the applicable Daily Simple SOFR&#59; or</font></div><div style="margin-bottom:12pt;padding-left:27pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(ii) &#160;&#160;&#160;&#160;the Administrative Agent is advised by the Required Lenders of the affected Classes that (A) prior to the commencement of any Interest Period for a Term Benchmark Borrowing, the Term SOFR Rate for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing for such Interest Period or (B) at any time, Daily Simple SOFR will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-90-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone, telecopy or electronic mail as promptly as practicable thereafter and, until (x) the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and (y) the Borrower delivers a new Interest Election Request in accordance with the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or a new Borrowing Request in accordance with the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (1)&#160;any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Term Benchmark Borrowing and any Borrowing Request that requests a Term Benchmark Borrowing shall instead be deemed to be an Interest Election Request or a Borrowing Request, as applicable, for (x) an RFR Borrowing so long as Daily Simple SOFR is not also the subject of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above or (y) an ABR&#160;Borrowing if Daily Simple SOFR also is the subject of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above and (2) any Borrowing Request that requests an RFR Borrowing shall instead be deemed to be a Borrowing Request for an ABR Borrowing. Furthermore, if any Term Benchmark Loan or RFR Loan is outstanding on the date of the Borrower&#8217;s receipt of the notice from the Administrative Agent referred to in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> with respect to a Relevant Rate applicable to such Term Benchmark Loan or RFR Loan, then until (x) the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist with respect to the relevant Benchmark and (y) the Borrower delivers a new Interest Election Request in accordance with the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or a new Borrowing Request in accordance with the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (1) any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute, (x) an RFR Borrowing so long as Daily Simple SOFR is not also the subject of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above or (y) an ABR Loan if Daily Simple SOFR also is the subject of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(d)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, on such day, and (2) any RFR Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute an ABR Loan. </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(e) Notwithstanding anything to the contrary herein or in any other Loan Document (and any Hedge Agreement shall be deemed not to be a &#8220;Loan Document&#8221; for purposes of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (1) of the definition of &#8220;Benchmark Replacement&#8221; for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document and (y) if a Benchmark Replacement is determined in accordance with clause (2) of the definition of &#8220;Benchmark Replacement&#8221; for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder and under any Loan Document in respect of any Benchmark setting at or after 5&#58;00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from Lenders comprising the Required Lenders of the affected Classes.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(f) Notwithstanding anything to the contrary herein or in any other Loan Document, the Administrative Agent will have the right to make Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement or any other Loan Document.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-91-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(g) The Administrative Agent will promptly notify the Borrower and the Lenders of (i) any occurrence of a Benchmark Transition Event, (ii) the implementation of any Benchmark Replacement, (iii) the effectiveness of any Benchmark Replacement Conforming Changes, (iv) the removal or reinstatement of any tenor of a Benchmark pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below and (v) the commencement or conclusion of any Benchmark Unavailability Period.  Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (d) &#8211; (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their sole discretion and without consent from any other party to this Agreement or any other Loan Document, except, in each case, as expressly required pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (d) &#8211; (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(k) Notwithstanding anything to the contrary herein or in any other Loan Document, at any time (including in connection with the implementation of a Benchmark Replacement), (i) if the then-current Benchmark is a term rate (including the Term SOFR Rate) and either (A) any tenor for such Benchmark is not displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (B) the regulatory supervisor for the administrator of such Benchmark has provided a public statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the definition of &#8220;Interest Period&#8221; for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and (ii) if a tenor that was removed pursuant to clause (i) above either (A) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (B) is not, or is no longer, subject to an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may modify the definition of &#8220;Interest Period&#8221; for all Benchmark settings at or after such time to reinstate such previously removed tenor.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l) Upon the Borrower&#8217;s receipt of notice of the commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a Term Benchmark Borrowing or RFR Borrowing of, conversion to or continuation of Term Benchmark Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing that, the Borrower will be deemed to have converted any request for a Term Benchmark Borrowing into a request for a Borrowing of or conversion to (A) an RFR Borrowing so long as Daily Simple SOFR is not the subject of a Benchmark Transition Event or (B) an ABR Borrowing if Daily Simple SOFR is the subject of a Benchmark Transition Event. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate.  Furthermore, if any Term Benchmark Loan or RFR Loan is outstanding on the date of the Borrower&#8217;s receipt of notice of the commencement of a Benchmark Unavailability Period with respect to a Relevant Rate applicable to such Term Benchmark Loan or RFR Loan, then until such time as a Benchmark Replacement is implemented pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (d) &#8211; (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (1) any Term Benchmark Loan shall on the last day of the Interest Period applicable to such Loan (or the next succeeding Business Day if such day is not a Business Day), be converted by the Administrative Agent to, and shall constitute, (x) an RFR Borrowing so long as Daily Simple SOFR is not the subject of a Benchmark Transition Event or (y) an ABR Loan if Daily Simple SOFR is the subject of a Benchmark Transition Event, on such day and (2) any RFR Loan shall on and from such day be converted by the Administrative Agent to, and shall constitute an ABR Loan. </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-92-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.15.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"> Increased Costs.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) If any Change in Law&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(i) imposes, modifies or deems applicable any reserve, special deposit or similar requirement against assets of, deposits with or for the account of, or credit extended by, any Lender&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) subject any Lender to any Taxes (other than (A)&#160;Indemnified Taxes and Other Taxes indemnifiable under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (B) Excluded Taxes) on or with respect to its loans, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto&#59; or</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii) imposes on any Lender or the applicable offshore interbank market any other condition (other than Taxes) affecting this Agreement or Loans made by any Lender&#59;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and the result of any of the foregoing is to increase the cost to the relevant Lender of making or maintaining any Term Benchmark Loan or RFR Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise) in respect of any Term Benchmark Loan or RFR Loan in an amount deemed by such Lender to be material, then, within 30 days after the Borrower&#8217;s receipt of the certificate contemplated by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Borrower shall not be liable for such compensation if (x) the relevant Change in Law occurs on a date prior to the date such Lender becomes a party hereto, (y) such Lender invokes </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.20</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or (z) in the case of requests for reimbursement under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above resulting from a market disruption, (A) the relevant circumstances are not generally affecting the banking market or (B) the applicable request has not been made by Lenders constituting Required Lenders.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160; If any Lender determines that any Change in Law regarding liquidity or capital requirements has or would have the effect of reducing the rate of return on such Lender&#8217;s capital or on the capital of such Lender&#8217;s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender, to a level below that which such Lender or such Lender&#8217;s holding company could have achieved but for such Change in Law other than due to Taxes (taking into consideration such Lender&#8217;s policies of general applicability and the policies of general applicability of such Lender&#8217;s holding company with respect to capital adequacy), then within 30 days of receipt by the Borrower of the certificate contemplated by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> the Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender or such Lender&#8217;s holding company for any such reduction suffered.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;Any Lender requesting compensation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be required to deliver a certificate to the Borrower that (i)&#160;sets forth the amount or amounts necessary to compensate such Lender or the holding company thereof, as applicable, as specified in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (ii)&#160;sets forth, in reasonable detail, the manner in which such amount or amounts were determined and (iii)&#160;certifies that such Lender is generally charging such amounts to similarly situated borrowers, which certificate shall be conclusive absent manifest error.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d) &#160;&#160;&#160;&#160;Failure or delay on the part of any Lender to demand compensation pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not constitute a waiver of such Lender&#8217;s right to demand such compensation&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Borrower shall not be required to compensate a Lender pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for any increased costs </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-93-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or reductions incurred more than 180 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender&#8217;s intention to claim compensation therefor&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.16. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Break Funding Payments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  (a) Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, in the event of (a) the conversion or prepayment of any principal of any Term Benchmark Loan other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise), (b) the failure to borrow, convert, continue or prepay any Term Benchmark Loan on the date or in the amount specified in any notice delivered pursuant hereto or (c) the assignment of any Term Benchmark Loan of any Lender other than on the last day of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense actually incurred by such Lender that is attributable to such event (other than loss of profit).&#160; In the case of a Term Benchmark Loan, the loss, cost or expense of any Lender (other than loss of profit) shall be the amount reasonably determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had such event not occurred at the Term SOFR Rate that would have been applicable to such Loan for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid, at the commencement of such period, for deposits in Dollars of a comparable amount and period from other banks in the applicable interbank market&#59; it being understood that such loss, cost or expense shall in any case exclude any interest rate floor and all administrative, processing or similar fees. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, in the event of (i)&#160;the payment of any principal of any RFR Loan other than on the Interest Payment Date applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration or otherwise), (ii)&#160;the failure to borrow or prepay any RFR Loan on the date or in the amount specified in any notice delivered pursuant hereto or (iii)&#160;the assignment of any RFR Loan other than on the Interest Payment Date applicable thereto as a result of a request by the Borrower pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">       (c) Any Lender requesting compensation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be required to deliver a certificate to the Borrower that (A)&#160;sets forth any amount or amounts that such Lender is entitled to receive pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the basis therefor and, in reasonable detail, the manner in which such amount or amounts were determined and (B)&#160;certifies that such Lender is generally charging the relevant amounts to similarly situated borrowers, which certificate shall be conclusive absent manifest error.  The Borrower shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof. </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.17. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Taxes.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;All payments by or on account of any obligation of any Loan Party under any Loan Document shall be made free and clear of and without deduction for any Taxes, except as required by applicable Requirements of Law.  If any applicable Requirement of Law requires the deduction or withholding of any Tax in respect of any such payment, then (i) if such Tax is an Indemnified Tax and&#47;or Other Tax, the amount payable by the applicable Loan Party shall be increased as necessary so that after all required deductions or withholdings have been made (including deductions or withholdings applicable to additional sums payable under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) each Lender (or, in the case of any payment made to the Administrative Agent for its own account, the Administrative Agent) receives an amount equal to the sum it </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-94-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">would have received had no such deductions or withholdings been made, (ii) the applicable withholding agent shall make such deductions and (iii) the applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160; In addition, without duplication of other amounts payable by the Borrower under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Loan Parties shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable Requirements of Law.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;The Borrower shall indemnify the Administrative Agent and each Lender within 30 days after receipt of the certificate described in the succeeding sentence, for the full amount of any Indemnified Taxes or Other Taxes payable or paid by the Administrative Agent or such Lender, other than any penalties determined by a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of the Administrative Agent or such Lender as applicable (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), and, in each case, any reasonable expenses arising therefrom or with respect thereto, whether or not correctly or legally imposed or asserted, provided that if the Borrower reasonably believes that such Taxes were not correctly or legally asserted, the Administrative Agent or such Lender, as applicable, will, at the request of the Borrower, use reasonable efforts to cooperate with the Borrower to obtain a refund of such Taxes (which, if obtained, shall be repaid to the Borrower to the extent provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) so long as such efforts would not, in the sole determination of the Administrative Agent or such Lender, result in any additional out-of-pocket costs or expenses not reimbursed by such Loan Party or be otherwise materially disadvantageous to the Administrative Agent or such Lender.  In connection with any request for reimbursement under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the relevant Lender or the Administrative Agent, as applicable, shall deliver a certificate to the Borrower setting forth, in reasonable detail, the basis and calculation of the amount of the relevant payment or liability.  </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160; &#91;Reserved&#93;.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e) &#160;&#160;&#160;&#160;As soon as practicable after any payment of any Taxes pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> by any Loan Party to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued, if any, by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment that is reasonably satisfactory to the Administrative Agent.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(f) &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Status of Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">     (i)&#160;&#160;&#160;&#160; Any Lender that is entitled to an exemption from or reduction of any withholding Tax with respect to any payments made under any Loan Document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation as the Borrower or the Administrative Agent may reasonably request to permit such payments to be made without withholding or at a reduced rate of withholding.  In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other documentation prescribed by applicable Requirements of Law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Each Lender hereby authorizes the Administrative Agent to deliver to the Loan Parties and to any successor </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-95-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">Administrative Agent any documentation provided to the Administrative Agent pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt;text-decoration:underline">Section 2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.00pt">.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(ii)    Without limiting the generality of the foregoing,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(A)&#160;&#160;&#160;&#160; each U.S. Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such U.S. Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), two executed original copies of IRS Form W-9 (or any successor forms) certifying that such Lender is exempt from U.S. federal backup withholding&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(B)&#160;&#160;&#160;&#160; each Foreign Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), whichever of the following is applicable&#58;</font></div><div style="margin-bottom:12pt;padding-left:27pt;text-indent:76.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(1)&#160;&#160;&#160;&#160; in the case of any Foreign Lender claiming the benefits of an income tax treaty to which the U.S. is a party, two executed original copies of IRS Form W-8BEN or W-8BEN-E, as applicable (or any successor forms, as applicable), establishing any available exemption from, or reduction of, U.S. federal withholding Tax&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:67.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(2)&#160;&#160;&#160;&#160; two executed original copies of IRS Form W-8ECI (or any successor forms)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(3) &#160;&#160;&#160;&#160;in the case of any Foreign Lender claiming the benefits of the exemption for portfolio interest under Section 871(h) or 881(c) of the Code, (x) two executed original copies of a certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">Exhibit N-1</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt"> to the effect that such Foreign Lender is not a &#8220;bank&#8221; within the meaning of Section 881(c)(3)(A) of the Code, a &#8220;10 percent shareholder&#8221; of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, or a &#8220;controlled foreign corporation&#8221; described in Section 881(c)(3)(C) of the Code, and that no payments payable to such Lender are effectively connected with the conduct of a U.S. trade or business (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">U.S. Tax Compliance Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">&#8221;) and (y) two executed original copies of IRS Form W-8BEN or W-8BEN-E, as applicable (or any successor forms, as applicable)&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(4) &#160;&#160;&#160;&#160;to the extent any Foreign Lender is not the beneficial owner (e.g., where the Foreign Lender is a partnership or participating Lender), two executed original copies of IRS Form W-8IMY (or any successor forms), accompanied by IRS Form W-8ECI, IRS Form W-8BEN or W-8BEN-E, a U.S. Tax Compliance Certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">Exhibit N-2</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">Exhibit N-3</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">Exhibit N-4</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">, IRS Form W-9, and&#47;or other certification documents from each beneficial owner, as applicable&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt"> that if such Foreign Lender is a partnership (and not a participating Lender) and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate substantially in the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt;text-decoration:underline">Exhibit N-3</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt"> on behalf of each such direct or indirect partner(s)&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-96-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.60pt">(C) &#160;&#160;&#160;&#160;each Foreign Lender shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), two executed original copies of any other form prescribed by applicable Requirements of Law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by applicable Requirements of Law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(D)&#160;&#160;&#160;&#160; if a payment made to any Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by applicable Requirements of Law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation as is prescribed by applicable Requirements of Law (including as prescribed by Section&#160;1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA, to determine whether such Lender has complied with such Lender&#8217;s obligations under FATCA or to determine the amount, if any, to deduct and withhold from such payment.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">For the avoidance of doubt, if a Lender is an entity disregarded from its owner for U.S. federal income tax purposes, references to the foregoing documentation are intended to refer to documentation with respect to such Lender&#8217;s owner and, as applicable, such Lender.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each Lender agrees that if any documentation it previously delivered expires or becomes obsolete or inaccurate in any respect (including any specific documentation required above in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), it shall deliver to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably requested by the Borrower or the Administrative Agent) or promptly notify the Borrower and the Administrative Agent in writing of its legal ineligibility to do so.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding anything to the contrary in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, no Lender shall be required to provide any documentation that such Lender is not legally eligible to deliver.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g) &#160;&#160;&#160;&#160;If the Administrative Agent or any Lender determines, in its sole discretion, exercised in good faith, that it has received a refund (whether received in cash or applied as a credit against any cash taxes of the same type payable) of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid additional amounts pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, it shall pay over such refund to the Borrower (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative Agent or such Lender (including any Taxes imposed with respect to such refund), and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Borrower, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to such Loan Party (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority.  </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-97-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding anything to the contrary in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, in no event will the Administrative Agent or any Lender be required to pay any amount to the Borrower pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph&#160;(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent that the payment thereof would place the Administrative Agent or such Lender in a less favorable net after-Tax position than the position that the Administrative Agent or such Lender would have been in if the Tax subject to indemnification had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts giving rise to such refund had never been paid.  This </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not be construed to require the Administrative Agent or any Lender to make available its Tax returns (or any other information relating to its Taxes which it deems confidential) to the relevant Loan Party or any other Person.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(h) &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Survival</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  Each party&#8217;s obligations under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, any Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160; On or before the date the Administrative Agent becomes a party to this Agreement, the Administrative Agent shall deliver to Borrower whichever of the following is applicable&#58; (i) if the Administrative Agent is a &#8220;United States person&#8221; within the meaning of Section&#160;7701(a)(30) of the Code, two executed original copies of IRS Form W-9 certifying that such Administrative Agent is exempt from U.S. federal backup withholding or (ii) if the Administrative Agent is not a &#8220;United States person&#8221; within the meaning of Section&#160;7701(a)(30) of the Code, (A) with respect to payments received for its own account, two executed original copies of IRS Form W-8ECI and (B) with respect to payments received on account of any Lender, two executed original copies of IRS Form W-8IMY (together with all required accompanying documentation) certifying that the Administrative Agent is a U.S. branch and may be treated as a United States person for purposes of applicable U.S. federal withholding Tax. At any time thereafter, the Administrative Agent shall provide updated documentation previously provided (or a successor form thereto) when any documentation previously delivered has expired or become obsolete or invalid or otherwise upon the reasonable request of the Borrower.  Notwithstanding anything to the contrary in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Administrative Agent shall not be required to provide any documentation that the Administrative Agent is not legally eligible to deliver as a result of a Change in Law after the Closing Date.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 2.18. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Payments Generally&#59; Allocation of Proceeds&#59; Sharing of Payments.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Unless otherwise specified, the Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, or otherwise) prior to 3&#58;00 p.m. on the date when due, in immediately available funds, without set-off or counterclaim.  Any amounts received after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon.  All such payments shall be made to the Administrative Agent to the applicable account designated by the Administrative Agent to the Borrower, except that payments pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be made directly to the Person or Persons entitled thereto.  The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof.  Except as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.19(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.20</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, each Borrowing, each payment or prepayment of principal of any Borrowing, each payment of interest on the Loans of a given Class and each conversion of any Borrowing to or continuation of any Borrowing as a Borrowing of any Type (and of the same Class) shall be allocated pro rata among the Lenders in accordance with their respective Applicable Percentages of the applicable Class.  Each Lender agrees that in computing such Lender&#8217;s portion of any Borrowing to be made hereunder, the Administrative Agent may, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-98-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">in its discretion, round each Lender&#8217;s percentage of such Borrowing to the next higher or lower whole Dollar amount.  All payments hereunder shall be made in Dollars.  Any payment required to be made by the Administrative Agent hereunder shall be deemed to have been made by the time required if the Administrative Agent shall, at or before such time, have taken the necessary steps to make such payment in accordance with the regulations or operating procedures of the clearing or settlement system used by the Administrative Agent to make such payment.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b)&#160;&#160;&#160;&#160; Subject, if applicable, in all respects to the provisions of any Acceptable Intercreditor Agreements, all proceeds of Collateral received by the Administrative Agent while an Event of Default is continuing and all or any portion of the Loans have been accelerated hereunder pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 7.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, shall be applied, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">first</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, to the payment of all costs and expenses then due incurred by the Administrative Agent in connection with any collection, sale or realization on Collateral or otherwise in connection with this Agreement, any other Loan Document or any of the Secured Obligations, including all court costs and the fees and expenses of agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf of any Loan Party and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">second</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, on a pro rata basis, to pay any fees, indemnities or expense reimbursements then due to the Administrative Agent (other than those covered in clause first above) from the Borrower constituting Secured Obligations, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">third</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, on a pro rata basis in accordance with the amounts of the Secured Obligations (other than contingent indemnification obligations for which no claim has yet been made) owed to the Secured Parties on the date of any such distribution, to the payment in full of the Secured Obligations, and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">fourth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, to, or at the direction of, the Borrower or as a court of competent jurisdiction may otherwise direct.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c) &#160;&#160;&#160;&#160;If any Lender obtains payment (whether voluntary, involuntary, through the exercise of any right of set-off or otherwise) in respect of any principal of or interest on any of its Loans of any Class held by it resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans of such Class and accrued interest thereon than the proportion received by any other Lender with Loans of such Class, then the Lender receiving such greater proportion shall purchase (for Cash at face value) participations in the Loans of such Class and of other Lenders of such Class at such time outstanding to the extent necessary so that the benefit of all such payments shall be shared by the Lenders of such Class ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans of such Class&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not apply to (x)&#160;any payment made by the Borrower pursuant to and in accordance with the express terms of this Agreement or (y)&#160;any payment obtained by any Lender as consideration for the assignment of or sale of a participation in any of its Loans to any permitted assignee or participant, including any payment made or deemed made in connection with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Sections&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable Requirements of Law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount of such participation.  The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and will, in each case, notify the Lenders following any such purchases or repayments.  Each Lender that purchases a participation pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall from and after such purchase have the right to give all notices, requests, demands, directions and other communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased. For purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">subclause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> of the definition of &#8220;Excluded Taxes,&#8221; a Lender that acquires a participation pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be treated as having acquired such participation on the earlier date(s) on which </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-99-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">such Lender acquired the applicable interest(s) in the Commitment(s) and&#47;or Loan(s) to which such participation relates.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d) &#160;&#160;&#160;&#160;Unless the Administrative Agent has received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of any Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the applicable Lender the amount due.  In such event, if the Borrower has not in fact made such payment, then each Lender severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e) &#160;&#160;&#160;&#160;If any Lender fails to make any payment required to be made by it pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.07(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.18(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account of such Lender to satisfy such Lender&#8217;s obligations under such Sections until all such unsatisfied obligations are fully paid.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.19. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Mitigation Obligations&#59; Replacement of Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;If any Lender requests compensation under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or such Lender determines it can no longer make or maintain Term Benchmark Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.20</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, or any Loan Party is required to pay any additional amount to or indemnify any Lender or any Governmental Authority for the account of any Lender pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder affected by such event, or to assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as applicable, in the future or mitigate the impact of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.20</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as the case may be, and (ii)&#160;would not subject such Lender to any unreimbursed out-of-pocket cost or expense and would not otherwise be disadvantageous to such Lender in any material respect.  The Borrower hereby agrees to pay all reasonable documented out-of-pocket costs and expenses incurred by any Lender in connection with any such designation or assignment.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">(b) &#160;&#160;&#160;&#160;If (i) any Lender requests compensation under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> or such Lender determines it can no longer make or maintain Term Benchmark Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.20</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">, (ii) any Loan Party is required to pay any additional amount to or indemnify any Lender or any Governmental Authority for the account of any Lender pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">, (iii)&#160;any Lender is a Defaulting Lender or (iv)&#160;in connection with any proposed amendment, waiver or consent requiring the consent of &#8220;each Lender,&#8221; or &#8220;each Lender directly affected thereby&#8221; (or any other Class or group of Lenders other than the Required Lenders) with respect to which Required Lender consent (or the consent of Lenders holding Loans or Commitments of such Class or lesser group representing more than 50% of the sum of the total Loans and unused Commitments of such Class or lesser group at such time) has been obtained, as applicable, any Lender is a non-consenting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, (x)&#160;terminate the applicable Commitments of such Lender, and repay all Obligations of the Borrower owing to such Lender relating to the applicable Loans and participations held by such Lender as of such termination date or (y) replace such Lender by requiring such Lender to assign and delegate (and such Lender shall be obligated to assign and delegate), without recourse (in accordance with and subject to the restrictions contained in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section&#160;9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">), all of its interests, rights and obligations under this Agreement to an </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-100-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">Eligible Assignee that shall assume such obligations (which Eligible Assignee may be another Lender, if any Lender accepts such assignment)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> that (A) such Lender has received payment of an amount equal to the outstanding principal amount of its Loans of such Class of Loans and&#47;or Commitments, accrued interest thereon, accrued fees and all other amounts payable to it under any Loan Document with respect to such Class of Loans and&#47;or Commitments, (B) in the case of any assignment resulting from a claim for compensation under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> or payments required to be made pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">, such assignment would result in a reduction in such compensation or payments and (C) such assignment does not conflict with applicable Requirements of Law.  No Lender (other than a Defaulting Lender) shall be required to make any such assignment and delegation, and the Borrower may not repay the Obligations of such Lender or terminate its Commitments, if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply.  Each Lender agrees that if it is replaced pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">, it shall execute and deliver to the Administrative Agent an Assignment and Assumption to evidence such sale and purchase and shall deliver to the Administrative Agent any Promissory Note (if the assigning Lender&#8217;s Loans are evidenced by one or more Promissory Notes) subject to such Assignment and Assumption (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> that the failure of any Lender replaced pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> to execute an Assignment and Assumption or deliver any such Promissory Note shall not render such sale and purchase (and the corresponding assignment) invalid), such assignment shall be recorded in the Register, any such Promissory Note shall be deemed cancelled.  Each Lender hereby irrevocably appoints the Administrative Agent (such appointment being coupled with an interest) as such Lender&#8217;s attorney-in-fact, with full authority in the place and stead of such Lender and in the name of such Lender, from time to time in the Administrative Agent&#8217;s discretion, with prior written notice to such Lender, to take any action and to execute any such Assignment and Assumption or other instrument that the Administrative Agent may deem reasonably necessary to carry out the provisions of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">.  To the extent that any Lender is replaced pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.19(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> in connection with a Repricing Transaction requiring payment of a fee pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.12(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">, the Borrower shall pay to each Lender being replaced as a result of such Repricing Transaction the fee set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.12(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">.</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">Section 2.20.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Illegality</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">.  If any Lender reasonably determines that any Change in Law has made it unlawful, or that any Governmental Authority has asserted after the Closing Date that it is unlawful, for such Lender or its applicable lending office to make, maintain or fund Loans whose interest is determined by reference to the Term SOFR Rate or to determine or charge interest rates based upon the Term SOFR Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of Dollars in the applicable interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue Term Benchmark Loans or to convert ABR Loans to Term Benchmark Loans shall be suspended and (ii) if such notice asserts the illegality of such Lender making or maintaining ABR Loans the interest rate on which is determined by reference to the Term SOFR Rate component of the Alternate Base Rate, the interest rate on ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR Rate component of the Alternate Base Rate, in each case until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist (which notice such Lender agrees to give promptly).  Upon receipt of such notice, (x) the Borrower shall, upon demand from the relevant Lender (with a copy to the Administrative Agent), prepay or convert all of such Lender&#8217;s Term Benchmark Loans to ABR Loans (the interest rate on which ABR Loans of such Lender shall, if necessary to avoid such illegality, be determined by the Administrative Agent without reference to the Term SOFR Rate component, as applicable, of the Alternate Base Rate) either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Term Benchmark Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Term Benchmark Loans (in which case the Borrower shall not be required to make payments pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt;text-decoration:underline">Section 2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt"> in connection with such payment) and (y)&#160;if such notice asserts the illegality of such Lender determining or charging interest rates based upon the Term SOFR Rate, the Administrative Agent shall during the period of such suspension compute the Alternate Base Rate applicable to such Lender without reference to the Term SOFR Rate component thereof until the Administrative Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge interest rates based upon the Term SOFR Rate.  Upon any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-101-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:11.50pt">such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted.&#160; Each Lender agrees to designate a different lending office if such designation will avoid the need for such notice and will not, in the determination of such Lender, otherwise be materially disadvantageous to such Lender.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 2.21. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Defaulting Lenders</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a)&#160;&#160;&#160;&#160;The Commitments of such Defaulting Lender shall not be included in determining whether all Lenders, each affected Lender, the Required Lenders or such other number of Lenders as may be required hereby or under any other Loan Document have taken or may take any action hereunder (including any consent to any waiver, amendment or modification pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender which affects such Defaulting Lender disproportionately and adversely relative to other affected Lenders shall require the consent of such Defaulting Lender.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b)&#160;&#160;&#160;&#160;Any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of any Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.18</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Article&#160;7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or otherwise, and including any amounts made available to the Administrative Agent by such Defaulting Lender pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">), shall be applied at such time or times as may be determined by the Administrative Agent and, where relevant, the Borrower as follows&#58;  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">first</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">second</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, so long as no Default or Event of Default exists, as the Borrower may request, to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">third</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as the Administrative Agent or the Borrower may elect, to be held in a deposit account and released in order to satisfy obligations of such Defaulting Lender to fund Loans under this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">fourth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, to the payment of any amounts owing to the non-Defaulting Lenders as a result of any judgment of a court of competent jurisdiction obtained by any non-Defaulting Lender against such Defaulting Lender as a result of such Defaulting Lender&#8217;s breach of its obligations under this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">fifth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender&#8217;s breach of its obligations under this Agreement&#59; and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">sixth</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that if (x) such payment is a payment of the principal amount of any Loan in respect of which such Defaulting Lender has not fully funded its appropriate share and (y) such Loan was made or created, as applicable, at a time when the conditions to such Lender&#8217;s obligations to fund such Loan were satisfied or waived, such payment shall be applied solely to pay the Loans of all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of such Defaulting Lender.  Any payments, prepayments or other amounts paid or payable to any Defaulting Lender that are applied (or held) to pay amounts owed by any Defaulting Lender pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.21(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(c)&#160;&#160;&#160;&#160;Notwithstanding the fact that any Defaulting Lender has adequately remedied all matters that caused such Lender to be a Defaulting Lender, (x) no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender and (y) except to the extent otherwise expressly agreed by the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-102-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender&#8217;s having been a Defaulting Lender. </font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 2.22. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Incremental Facilities.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a) &#160;&#160;&#160;&#160;The Borrower may, at any time, on one or more occasions pursuant to an Incremental Facility Amendment add one or more new Classes of term facilities and&#47;or increase the principal amount of the Term Loans of any existing Class by requesting new commitments to provide such Term Loans (any such new Class or increase, an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Incremental Facility</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; and any loans made pursuant to an Incremental Facility, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Incremental Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;) in an aggregate principal amount for all such Incremental Term Loans incurred after the First Amendment Effective Date not to exceed the Incremental Cap&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(i) &#160;&#160;&#160;&#160;no Incremental Commitment in respect of any Incremental Facility may be in an amount that is less than $5,000,000 (or such lesser amount to which the Administrative Agent may reasonably agree)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(ii) except as the Borrower and any Lender may separately agree, no Lender shall be obligated to provide any Incremental Commitment, and the determination to provide such commitments shall be within the sole and absolute discretion of such Lender (it being agreed that the Borrower shall not be obligated to offer the opportunity to any Lender to participate in any Incremental Facility)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(iii) &#160;&#160;&#160;&#160;no Incremental Facility or Incremental Term Loan (nor the creation, provision or implementation thereof) shall require the approval of any existing Lender other than in its capacity, if any, as a lender providing all or part of any Incremental Commitment or Incremental Term Loan&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(iv) &#160;&#160;&#160;&#160;except as otherwise permitted herein (including with respect to margin, pricing, maturity and fees), the terms of any Incremental Facility, if not consistent with those applicable to any then-existing Term Loans (as reasonably determined by the Borrower and the Administrative Agent), must either, at the option of the Borrower, (x) not be materially more restrictive to the Borrower and its Restricted Subsidiaries (as determined by the Borrower in good faith) than (when taken as a whole) those contained in the Loan Documents (other than any terms which are applicable only after the then-existing Latest Maturity Date), (y) be conformed (or added) to the Loan Documents for the benefit of the existing Term Lenders or, as applicable, the Administrative Agent (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">i.e.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, by conforming or adding a term to the then-outstanding Term Loans pursuant to the applicable Incremental Facility Amendment, it being understood that, without limitation, any amendment or modification to the Loan Documents that solely adds one or more terms for the benefit of the existing Term Lenders shall not require the consent of any such existing Term Lender so long as the form (but not the substance) of the applicable agreement effecting such amendment or modification is reasonably satisfactory to the Administrative Agent) or (z) reflect then current market terms and conditions (taken as a whole) at the time of incurrence or issuance (as determined by the Borrower in good faith)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(v)&#160;&#160;&#160;&#160; the interest rate, fees, discount and yield applicable to any Incremental Facility shall be determined by the Borrower and the lender or lenders providing such Incremental Facility&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> that, with respect to any Incremental Term Loans incurred</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">on any date after the Eleventh Amendment Effective Date that is on or prior to the day that is 12 months after the Tenth Amendment Effective Date in an aggregate principal amount in excess of the greater of (x) </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-103-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">$429,000,000 and (y) 2.00% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Threshold</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221;) under any Incremental Facility that (A) consists of floating rate Dollar-denominated Term Loans that are </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.50pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> with the Term B-6 Loans in right of payment and with respect to security, (B) &#91;reserved&#93;, (C) is scheduled to mature prior to the date that is two years after the Maturity Date of the Term B-6 Loans and (D) is not incurred or established to refinance the 2019 New Term Loans or the Term B-6 Loans (the foregoing sub-clauses (A) through (D), the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Conditions</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221;), the Effective Yield applicable thereto may not be more than 0.50% higher than the Effective Yield applicable to the Term B-6 Loans unless the Applicable Rate (and&#47;or, as provided in the proviso below, the Floor or Alternate Base Rate floor) with respect to the Term B-6 Loans is adjusted to be equal to the Effective Yield with respect to such Incremental Facility, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> 0.50% (this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clause (v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">MFN Protection</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#8221;)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, that any increase in Effective Yield to any Term B-6 Loan due to the application or imposition of an Alternate Base Rate floor or other benchmark floor on any Incremental Term Loan may be effected, at the option of the Borrower, through an increase in (or implementation of, as applicable) any Floor or Alternate Base Rate floor applicable to such Term B-6 Loan&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(vi)&#160;&#160;&#160;&#160; subject to the Permitted Earlier Maturity Indebtedness Exception, the final maturity date with respect to any Incremental Term Loans shall be no earlier than the then-existing Latest Maturity Date&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(vii)&#160;&#160;&#160;&#160; subject to the Permitted Earlier Maturity Indebtedness Exception or as expressly provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clause (xiv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> below, the Weighted Average Life to Maturity of any Incremental Facility shall be no shorter than the remaining Weighted Average Life to Maturity of the 2019 New Term Loans, the Term B-3 Loans, </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">the </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans or Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> Loans on the date of incurrence of such Incremental Facility&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(viii)&#160;&#160;&#160;&#160; subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clauses (vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">(vii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> above, any Incremental Facility may otherwise have an amortization schedule as determined by the Borrower and the lenders providing such Incremental Facility&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(ix) &#160;&#160;&#160;&#160;subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clause (v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> above, to the extent applicable, any fees payable in connection with any Incremental Facility shall be determined by the Borrower and the arrangers and&#47;or lenders providing such Incremental Facility&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(x) &#160;&#160;&#160;&#160;(A)&#160;any Incremental Facility (x) shall rank </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.50pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> in right of payment with any then-existing Class of Term Loans and (y) may rank </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.50pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> with or junior to any then-existing Class of Term Loans, as applicable, in right of security or may be unsecured (and to the extent the relevant Incremental Facility is secured by the Collateral, it shall be subject to an Acceptable Intercreditor Agreement) and (B) no Incremental Facility may be (x) guaranteed by any Restricted Subsidiary which is not a Loan Party or (y) secured by any assets of the Borrower or any Restricted Subsidiary other than the Collateral&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xi) &#160;&#160;&#160;&#160;any Incremental Facility may participate (A) in any voluntary prepayment of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.11(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on a pro rata basis, greater than pro rata basis or less than a pro rata basis with the then-existing Term Loans and (B) in any mandatory prepayment of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.11(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on a pro rata basis (to the extent such Incremental Facility is secured on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> basis with the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-4 Loans, the Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans and&#47;or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans), greater than pro rata basis with respect to prepayments of any such Incremental Facility with the proceeds of any Replacement Term Loans or </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-104-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Refinancing Indebtedness (including Replacement Notes) or less than a pro rata basis with the then-existing Term Loans, in each case, to the extent provided in such Sections&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xii) &#160;&#160;&#160;&#160;notwithstanding anything to the contrary in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or in any other provision of any Loan Document, (A) no Event of Default (or, if the proceeds of any Incremental Facility are incurred in connection with a Limited Condition Transaction, no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) shall have occurred and be continuing on such date and (B) the Specified Representations shall be true and correct in all material respects on and as of the date of the initial borrowing or establishment of such Incremental Facility&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (I)&#160;in the case of any Specified Representation which expressly relates to a given date or period, such representation and warranty shall be true and correct in all material respects as of the respective date or for the respective period, as the case may be, (II)&#160;if any Specified Representation is qualified by or subject to a &#8220;material adverse effect,&#8221; &#8220;material adverse change&#8221; or similar term or qualification, such Specified Representation shall be true and correct in all respects and (III) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 3.14</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not apply to Collateral that is not required to be created or perfected on or prior to the date of initial funding of such Incremental Facility&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that with respect to any Limited Condition Transaction, except as set forth above, any other conditions may be satisfied on the LCT Test Date&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xiii)&#160;&#160;&#160;&#160; the proceeds of any Incremental Facility may be used for working capital and&#47;or purchase price adjustments and other general corporate purposes (including capital expenditures, acquisitions, Investments, Restricted Payments and Restricted Debt Payments and related fees and expenses) and any other use not prohibited by this Agreement&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xiv)&#160;&#160;&#160;&#160;on the date of the Borrowing of any Incremental Term Loans that will be of the same Class as any then-existing Class of Term Loans, and notwithstanding anything to the contrary set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, such Incremental Term Loans shall be added to (and constitute a part of, be of the same Type as and, at the election of the Borrower, have the same Interest Period as) each Borrowing of outstanding Term Loans of such Class on a pro rata basis (based on the relative sizes of such Borrowings), so that each Term Lender providing such Incremental Term Loans will participate proportionately in each then-outstanding Borrowing of Term Loans of such Class&#59; it being acknowledged that the application of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)(xiv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> may result in new Incremental Term Loans having Interest Periods (the duration of which may be less than one month) that begin during an Interest Period then applicable to outstanding Term Benchmark Loans of the relevant Class and which end on the last day of such Interest Period.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;Incremental Commitments may be provided by any existing Lender, or by any other Eligible Assignee (any such other lender being called an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Additional Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Administrative Agent shall have a right to consent (such consent not to be unreasonably withheld or delayed) to the relevant Additional Lender&#8217;s provision of Incremental Commitments if such consent would be required under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.05(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for an assignment of Loans to such Additional Lender&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that any Additional Lender that is an Affiliated Lender shall be subject to the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">mutatis mutandis</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, to the same extent as if the relevant Incremental Commitments and related Obligations had been acquired by such Lender by way of assignment.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-105-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;Each Lender or Additional Lender providing a portion of any Incremental Commitment shall execute and deliver to the Administrative Agent and the Borrower all such documentation (including the relevant Incremental Facility Amendment) as may be reasonably required by the Administrative Agent to evidence and effectuate such Incremental Commitment.  On the effective date of such Incremental Commitment, each Additional Lender shall become a Lender for all purposes in connection with this Agreement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(d) &#160;&#160;&#160;&#160;As conditions precedent to the effectiveness of any Incremental Facility or, subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 1.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, the making of any Incremental Term Loans, (i)&#160;upon its request, the Administrative Agent shall be entitled to receive customary written opinions of counsel, as well as such reaffirmation agreements, supplements and&#47;or amendments as it shall reasonably require, (ii)&#160;the Administrative Agent shall be entitled to receive, from each Additional Lender, an administrative questionnaire, in the form provided to such Additional Lender by the Administrative Agent (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Administrative Questionnaire</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;) and such other documents as it shall reasonably require from such Additional Lender, (iii)&#160;the Administrative Agent and the applicable Lenders shall be entitled to receive all fees required to be paid to them in respect of such Incremental Facility or Incremental Term Loans, (iv) the Administrative Agent shall have received a Borrowing Request as if the relevant Incremental Term Loans were subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> (provided that such Borrowing Request need not include any bring down of any representation or warranty, include any representation as to the occurrence of any default or Event of Default or other item not consistent with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">) and (v) the Administrative Agent shall be entitled to receive a certificate of the Borrower signed by a Responsible Officer thereof&#59;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(A)&#160;&#160;&#160;&#160;certifying and attaching a copy of the resolutions adopted by the governing body of the Borrower approving or consenting to such Incremental Facility or Incremental Term Loans, and</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(B)   &#160;&#160;&#160;&#160;to the extent applicable, certifying that the conditions set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">subclauses (A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (a)(xii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> above has been satisfied.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160; The Lenders hereby irrevocably authorize the Administrative Agent to enter into any Incremental Facility Amendment and&#47;or any amendment to any other Loan Document as may be necessary in order to establish new Classes or sub-Classes in respect of Loans or commitments pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and such technical, mechanical and conforming amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new Classes or sub-Classes, in each case on terms consistent with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160; This </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall supersede any provision in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.18</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the contrary.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 2.23. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Extensions of Loans.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary in this Agreement, pursuant to one or more offers (each, an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Extension Offer</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) made from time to time by the Borrower to all Lenders holding Loans of any Class or Commitments of any Class, in each case on a pro rata basis within such Class (based on the aggregate outstanding principal amount of the respective Loans or Commitments of such Class) and on the same terms to each such Lender, the Borrower is hereby permitted to consummate transactions with any individual Lender who accepts the terms contained in the relevant Extension Offer to extend the Maturity Date of all or a portion of such Lender&#8217;s Loans and&#47;or Commitments of such Class and otherwise modify the terms of all or a portion of such Loans and&#47;or Commitments pursuant to the terms of the relevant </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-106-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Extension Offer (including by increasing the interest rate or fees payable in respect of such Loans and&#47;or Commitments (and related outstandings) and&#47;or modifying the amortization schedule, if any, in respect of such Loans) (each, an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Extension</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">,&#8221; and each group of Loans or Commitments, as applicable, in each case as so extended, and the original Loans and the original Commitments (in each case not so extended), being a &#8220;Class&#8221;&#59; it being understood that any Extended Term Loans shall constitute a separate Class of Loans from the Class of Loans from which they were converted, so long as the following terms are satisfied&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160; &#91;Reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160; except as to (A) interest rates, fees, amortization, final maturity date, premiums, required prepayment dates and participation in prepayments (which shall, subject to immediately succeeding </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, be determined by the Borrower and any Lender who agrees to an Extension of its Term Loans and set forth in the relevant Extension Offer), (B) terms applicable to such Extended Term Loans (as defined below) that are more favorable to the lenders or the agent of such Extended Term Loans than those contained in the Loan Documents and are then conformed (or added) to the Loan Documents for the benefit of the Term Lenders or, as applicable, the Administrative Agent (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">i.e.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, by conforming or adding a term to the then-outstanding Term Loans pursuant to the applicable Extension Amendment) and (C) any covenants or other provisions applicable only to periods after the Latest Maturity Date (in each case, as of the date of such Extension), the Term Loans of any Lender extended pursuant to any Extension (any such extended Term Loans, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Extended Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) shall have substantially consistent terms (or terms not less favorable to existing Lenders) as the Class of Term Loans subject to the relevant Extension Offer&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii) &#160;&#160;&#160;&#160;the final maturity date of any Extended Term Loans may be no earlier than the Class of Term Loans from which they were converted&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv) &#160;&#160;&#160;&#160;the Weighted Average Life to Maturity of any Extended Term Loans shall be no shorter than the remaining Weighted Average Life to Maturity of the Class of Term Loans from which they were converted&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160; subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, any Extended Term Loans may otherwise have an amortization schedule as determined by the Borrower and the Lenders providing such Extended Term Loans&#59;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">       (vi)&#160;&#160;&#160;&#160;       any Extended Term Loans may participate (A) in any voluntary prepayments of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (B) in any mandatory prepayments of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, in each case, to the extent provided in such Sections&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vii) &#160;&#160;&#160;&#160;if the aggregate principal amount of Loans or Commitments, as the case may be, in respect of which Lenders have accepted the relevant Extension Offer exceed the maximum aggregate principal amount of Loans or Commitments, as the case may be, offered to be extended by the Borrower pursuant to such Extension Offer, then the Loans or Commitments, as the case may be, of such Lenders shall be extended ratably up to such maximum amount based on the respective principal amounts (but not to exceed the applicable Lender&#8217;s actual holdings of record) with respect to which such Lenders have accepted such Extension Offer&#59;</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(viii) &#160;&#160;&#160;&#160;unless the Administrative Agent otherwise agrees, any Extension must be in a minimum amount of $5,000,000&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-107-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(ix) &#160;&#160;&#160;&#160;any applicable Minimum Extension Condition must be satisfied or waived by the Borrower&#59; and </font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(x) &#160;&#160;&#160;&#160;any documentation in respect of any Extension shall be consistent with the foregoing.</font></div><div style="margin-top:2pt;text-indent:4.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(b) &#160;&#160;&#160;&#160;(i) No Extension consummated in reliance on this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> shall constitute a voluntary or mandatory prepayment for purposes of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, (ii) the scheduled amortization payments (insofar as such schedule affects payments due to Lenders participating in the relevant Class) set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> shall be adjusted to give effect to any Extension of any Class of Loans and&#47;or Commitments and (iii) except as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause (a)(viii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> above, no Extension Offer is required to be in any minimum amount or any minimum increment&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> that the Borrower may at its election specify as a condition (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Minimum Extension Condition</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221;) to the consummation of any Extension that a minimum amount (to be specified in the relevant Extension Offer in the Borrower&#8217;s sole discretion) of Loans or Commitments (as applicable) of any or all applicable tranches be tendered&#59; it being understood that the Borrower may, in its sole discretion, waive any such Minimum Extension Condition.  The Administrative Agent and the Lenders hereby consent to the transactions contemplated by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (including, for the avoidance of doubt, the payment of any interest, fees or premium in respect of any Extended Term Loans on such terms as may be set forth in the relevant Extension Offer) and hereby waive the requirements of any provision of this Agreement (including </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Sections 2.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">2.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">2.18</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">) or any other Loan Document that may otherwise prohibit any such Extension or any other transaction contemplated by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:4.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(c) &#160;&#160;&#160;&#160;No consent of any Lender or the Administrative Agent shall be required to effectuate any Extension, other than the consent of each Lender agreeing to such Extension with respect to one or more of its Loans and&#47;or Commitments of any Class (or a portion thereof).  All Extended Term Loans and all obligations in respect thereof shall constitute Secured Obligations under this Agreement and the other Loan Documents that are secured by the Collateral and guaranteed on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.70pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> basis with all other applicable Secured Obligations under this Agreement and the other Loan Documents.  The Lenders hereby irrevocably authorize the Administrative Agent to enter into any Extension Amendment and any amendments to any of the other Loan Documents with the Loan Parties as may be necessary in order to establish new Classes or sub-Classes in respect of Loans or Commitments so extended and such technical amendments as may be necessary or appropriate in the reasonable opinion of the Administrative Agent and the Borrower in connection with the establishment of such new Classes or sub-Classes, in each case on terms consistent with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(d) &#160;&#160;&#160;&#160;In connection with any Extension, the Borrower shall provide the Administrative Agent at least five Business Days&#8217; (or such shorter period as may be agreed by the Administrative Agent) prior written notice thereof, and shall agree to such procedures (including regarding timing, rounding and other adjustments and to ensure reasonable administrative management of the credit facilities hereunder after such Extension), if any, as may be established by, or acceptable to, the Administrative Agent, in each case acting reasonably to accomplish the purposes of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div style="padding-left:6pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:12.70pt"><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">ARTICLE 3</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"><br>REPRESENTATIONS AND WARRANTIES</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">On the Closing Date, the Borrower hereby represents and warrants to the Lenders that&#58;</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">Section 3.01.  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Organization&#59; Powers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.  The Borrower and each of its Restricted Subsidiaries (a)&#160;is (i) duly organized and validly existing and (ii) in good standing (to the extent such concept exists in the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-108-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">relevant jurisdiction) under the Requirements of Law of its jurisdiction of organization, (b)&#160;has all requisite organizational power and authority to own its assets and to carry on its business as now conducted and (c) is qualified to do business in, and is in good standing (to the extent such concept exists in the relevant jurisdiction) in, every jurisdiction where the ownership, lease or operation of its properties or conduct of its business requires such qualification, except, in each case referred to in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;3.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause (a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause&#160;(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> with respect to the Loan Parties) where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 3.02. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Authorization&#59; Enforceability.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  The execution, delivery and performance of each Loan Document are within each applicable Loan Party&#8217;s corporate or other organizational power and have been duly authorized by all necessary corporate or other organizational action of such Loan Party.  Each Loan Document to which any Loan Party is a party has been duly executed and delivered by such Loan Party and is a legal, valid and binding obligation of such Loan Party, enforceable in accordance with its terms, subject to the Legal Reservations.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Sections 3.03. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Governmental Approvals&#59; No Conflicts. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> The execution and delivery of each Loan Document by each Loan Party thereto and the performance by such Loan Party thereof (a)&#160;do not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except (i)&#160;such as have been obtained or made and are in full force and effect, (ii)&#160;in connection with the Perfection Requirements or (iii)&#160;such consents, approvals, registrations, filings, or other actions the failure to obtain or make which could not be reasonably expected to have a Material Adverse Effect, (b) will not violate any (i)&#160;of such Loan Party&#8217;s Organizational Documents or (ii)&#160;Requirement of Law applicable to such Loan Party which violation, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, could reasonably be expected to have a Material Adverse Effect and (c) will not violate or result in a default under any material Contractual Obligation to which such Loan Party is a party which violation, in the case of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, could reasonably be expected to result in a Material Adverse Effect.</font></div><div style="margin-top:2pt;text-align:justify"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 3.04. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Financial Condition&#59; No Material Adverse Effect.</font></div><div style="margin-top:2pt;text-align:justify;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a) &#160;&#160;&#160;&#160;The financial statements (i) of the Borrower for its fiscal year ended December 31, 2018 filed with the SEC prior to the Closing Date and (ii) after the Closing Date, most recently provided pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, as applicable, present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower on a consolidated basis as of such dates and for such periods in accordance with GAAP, (x) except as otherwise expressly noted therein, (y) subject, in the case of quarterly financial statements, to the absence of footnotes and normal year-end adjustments and (z) except as may be necessary to reflect any differing entities and organizational structure prior to giving effect to the Transactions.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(b) &#160;&#160;&#160;&#160;Since December 31, 2018, there has been no Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 3.05. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Properties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a) &#160;&#160;&#160;&#160;As of the Closing Date, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Schedule&#160;3.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> sets forth the address of each Real Estate Asset (or each set of such assets that collectively comprise one operating property) that is owned in fee simple by any Loan Party.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b) &#160;&#160;&#160;&#160;The Borrower and each of its Restricted Subsidiaries have good and valid fee simple title to or rights to purchase, or valid leasehold interests as tenants in, or easements or other limited property interests in, all of their respective Real Estate Assets and have good title to their personal property and assets, in each case, except (i)&#160;for defects in title that do not materially interfere with their ability to conduct their business </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-109-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">as currently conducted or to utilize such properties and assets for their intended purposes, (ii)&#160;where the failure to have such title would not reasonably be expected to have a Material Adverse Effect or (iii) Permitted Liens.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c) &#160;&#160;&#160;&#160;The Borrower and its Restricted Subsidiaries own or otherwise have a license or right to use all Intellectual Property rights (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">IP Rights</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;) used or held for use to conduct their respective businesses as presently conducted without, to the knowledge of any Responsible Officer of the Borrower, any infringement, dilution, violation or misappropriation of the IP Rights of third parties, except to the extent the failure to own or license or have rights to use would not, or where such infringement, dilution, violation or misappropriation would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 3.06. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Litigation and Environmental Matters</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(a)&#160;&#160;&#160;&#160; There are no actions, suits or proceedings by or before any arbitrator or Governmental Authority pending against or, to the knowledge of any Responsible Officer of the Borrower, threatened in writing against or affecting the Borrower or any of its Restricted Subsidiaries which would reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b)&#160;&#160;&#160;&#160; Except for any matters that, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect, (i) neither the Borrower nor any of its Restricted Subsidiaries is subject to or has received notice of any Environmental Claim or Environmental Liability or knows of any basis for any Environmental Liability or Environmental Claim of the Borrower or any of its Restricted Subsidiaries and (ii) neither the Borrower nor any of its Restricted Subsidiaries has failed to comply with any Environmental Law or to obtain, maintain or comply with any Governmental Authorization, permit, license or other approval required under any Environmental Law.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c)&#160;&#160;&#160;&#160;In the five-year period prior to the Closing Date, neither the Borrower nor any of its Restricted Subsidiaries has treated, stored, transported or Released any Hazardous Materials on, at, under or from any currently or formerly owned or leased real estate or facility in a manner that would reasonably be expected to have a Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 3.07.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Compliance with Laws.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">  The Borrower and each of its Restricted Subsidiaries is in compliance with all Requirements of Law applicable to it or its property, except, in each case where the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect&#59; it being understood and agreed that this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;3.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall not apply to the Requirements of Law covered by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 3.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> below.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 3.08. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Investment Company Status.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">  No Loan Party is an &#8220;investment company&#8221; under the Investment Company Act of 1940.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 3.09. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The Borrower and each of its Restricted Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it that are due and payable (including in its capacity as a withholding agent), except (a) Taxes (or any requirement to file Tax returns with respect thereto) that are being contested in good faith by appropriate proceedings and for which the Borrower or such Restricted Subsidiary, as applicable, has set aside on its books adequate reserves in accordance with GAAP or (b) to the extent that the failure to do so, individually or in the aggregate, would not reasonably be expected to result in a Material Adverse Effect.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-110-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 3.10. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">ERISA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) Each Plan is in compliance in form and operation with its terms and with ERISA and the Code and all other applicable Requirements of Law, except where any failure to comply would not reasonably be expected to result in a Material Adverse Effect.</font></div><div style="margin-top:2pt;text-indent:13.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) In the five-year period prior to the date on which this representation is made or deemed made, no ERISA Event has occurred and is continuing or is reasonably expected to occur that, when taken together with all other such ERISA Events for which liability is reasonably expected to occur, would reasonably be expected to result in a Material Adverse Effect.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 3.11. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Disclosure</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;As of the Closing Date, all written information (other than the Projections, financial estimates, other forward-looking information and&#47;or projected information and information of a general economic or industry-specific nature) concerning the Borrower and its subsidiaries that was included in the Information Memorandum (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Information</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), when taken as a whole, did not, when furnished, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements contained therein not materially misleading in light of the circumstances under which such statements were made (after giving effect to all supplements and updates thereto from time to time).</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;The Projections have been prepared in good faith based upon assumptions believed by the Borrower to be reasonable at the time furnished (it being recognized that such Projections are as to future events and are not to be viewed as facts and are subject to significant uncertainties and contingencies many of which are beyond the Borrower&#8217;s control, that no assurance can be given that any particular financial projections will be realized, that actual results may differ from projected results and that such differences may be material).</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 3.12. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Solvency.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  As of the Closing Date and after giving effect to the Transactions and the incurrence of the Indebtedness and obligations being incurred in connection with this Agreement and the Transactions, (i) the sum of the debt (including contingent liabilities) of the Borrower and its Subsidiaries, taken as a whole, does not exceed the fair value of the assets (on a going concern basis) of the Borrower and its Subsidiaries, taken as a whole&#59; (ii) the capital of the Borrower and its Subsidiaries, taken as a whole, is not unreasonably small in relation to the business of the Borrower and its Subsidiaries, taken as a whole, contemplated as of the Closing Date&#59; and (iii) the Borrower and its Subsidiaries, taken as a whole, do not intend to incur, or believe that they will incur, debts (including current obligations and contingent liabilities) beyond their ability to pay such debt as they mature in the ordinary course of business. </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 3.13.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Subsidiaries.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Schedule&#160;3.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> sets forth, in each case as of the Closing Date, (a) a correct and complete list of the name of each subsidiary of the Borrower and the ownership interest therein held by the Borrower or its applicable Subsidiary, and (b) the type of entity of the Borrower and each of its Subsidiaries.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 3.14.  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Security Interest in Collateral</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Subject to any limitations and exceptions set forth in any Loan Documents, the Legal Reservations and the provisions of this Agreement and the other relevant Loan Documents, the Collateral Documents create legal, valid and enforceable Liens on all of the Collateral in favor of the Administrative Agent, for the benefit of itself and the other Secured Parties, and upon the satisfaction of the applicable Perfection Requirements, such Liens constitute perfected Liens (with the priority that such Liens are expressed to have under the relevant Collateral Documents, unless otherwise </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-111-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">permitted hereunder or under any Loan Document) on the Collateral (to the extent such Liens are required to be perfected under the terms of the Loan Documents) securing the Secured Obligations, in each case as and to the extent set forth therein.  For the avoidance of doubt, notwithstanding anything herein or in any other Loan Document to the contrary, neither the Borrower nor any other Loan Party makes any representation or warranty as to (A) the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or security interest in any Capital Stock of any Foreign Subsidiary (other than Capital Stock and assets of Foreign Subsidiaries, if any, that are Guarantors), or as to the rights and remedies of the Administrative Agent or any Lender with respect thereto, under foreign Requirements of Law not required to be obtained under the Loan Documents, (B) the enforcement of any security interest, or rights or remedies with respect to any Collateral that may be limited or restricted by, or require any consents, authorizations approvals or licenses under, any Requirement of Law or (C) on the Closing Date and until required pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, the pledge or creation of any security interest, or the effects of perfection or non-perfection, the priority or enforceability of any pledge or security interest to the extent not required on the Closing Date.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 3.15. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Labor Disputes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Except as individually or in the aggregate would not reasonably be expected to have a Material Adverse Effect, (a) there are no strikes, lockouts or slowdowns against the Borrower or any of its Restricted Subsidiaries pending or, to the knowledge of any Responsible Officer of the Borrower or any of its Restricted Subsidiaries, threatened and (b) the hours worked by and payments made to employees of the Borrower and its Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable Requirements of Law dealing with such matters.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 3.16. Federal Reserve Regulations.  No part of the proceeds of any Loan have been used, whether directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that results in a violation of the provisions of Regulation U.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"><br>&#160;&#160;&#160;&#160;Section 3.17. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">OFAC&#59; PATRIOT ACT and FCPA.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a)&#160;&#160;&#160;&#160; (i)&#160;None of the Borrower or any of its Subsidiaries or, to the knowledge of any Responsible Officer of the Borrower, any director, officer or employee of any of the foregoing is a Sanctioned Person&#59; and (ii)&#160;the Borrower will not directly or, to the knowledge of any Responsible Officer of the Borrower, indirectly, use the proceeds of the Loans or otherwise make available such proceeds to any Person in violation of Sanctions. </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b) &#160;&#160;&#160;&#160;To the extent applicable, each Loan Party is in compliance (i) in all material respects with the USA PATRIOT Act, the Trading with the Enemy Act, as amended, each of the foreign assets control regulations of the United States Treasury Department (31 CFR Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and the UK Bribery Act of 2010 and any enabling legislation or executive order relating thereto and (ii) except as would not reasonably be expected to have a Material Adverse Effect, with all Sanctions. </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160; Neither the Borrower nor any of its Subsidiaries nor, to the knowledge of any Responsible Officer of the Borrower, any director, officer or employee of the Borrower or any Subsidiary, has taken any action, directly or, to the knowledge of any Responsible Officer of the Borrower, indirectly, that would result in a material violation by any such Person of the U.S. Foreign Corrupt Practices Act of 1977, as amended (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">FCPA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), including, without limitation, making any offer, payment, promise to pay or authorization or approval of the payment of any money, or other property, gift, promise to give or </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-112-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">authorization of the giving of anything of value, directly or indirectly, to any &#8220;foreign official&#8221; (as such term is defined in the FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in each case in contravention in any material respect of the FCPA and any applicable anti-corruption Requirement of Law of any Governmental Authority. The Borrower will not directly or, to the knowledge of any Responsible Officer of the Borrower, indirectly, use the proceeds of the Loans or otherwise make available such proceeds to any governmental official or employee, political party, official of a political party, candidate for public office or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage in violation of the FCPA.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The representations and warranties set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 3.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above made by or on behalf of any Foreign Subsidiary are subject to and limited by any Requirement of Law applicable to such Foreign Subsidiary&#59; it being understood and agreed that to the extent that any Foreign Subsidiary is unable to make any representation or warranty set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 3.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as a result of the application of this sentence, such Foreign Subsidiary shall be deemed to have represented and warranted that it is in compliance, in all material respects, with any equivalent Requirement of Law relating to anti-terrorism, anti-corruption, sanctions or anti-money laundering that is applicable to such Foreign Subsidiary in its relevant local jurisdiction of organization.</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%"><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ARTICLE 4</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">CONDITIONS</font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 4.01. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Closing Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The obligations of each Lender to make Loans on the Closing Date shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">)&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(a)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Credit Agreement and Loan Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The Administrative Agent (or its counsel) shall have received from each Loan Party, to the extent party thereto, (i) a counterpart signed by such Loan Party (or written evidence reasonably satisfactory to the Administrative Agent (which may include a copy transmitted by facsimile or other electronic method) that such party has signed a counterpart) of (A) this Agreement, (B) the Security Agreement, (C) each applicable Intellectual Property Security Agreement, (D) the Loan Guaranty and (E) each Promissory Note requested by a Lender at least three Business Days prior to the Closing Date and (ii) a Borrowing Request as required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;2.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> (and any such requirements may be waived or extended by the Administrative Agent).</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Legal Opinions</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The Administrative Agent (or its counsel) shall have received, on behalf of itself and the Lenders on the Closing Date, a customary written opinion of (i) Ropes &#38; Gray LLP, in its capacity as counsel for the Loan Parties and (ii) Venable LLP, in its capacity as local Maryland counsel for the Loan Parties, each dated as of the Closing Date and addressed to the Administrative Agent and the Lenders on the Closing Date.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(c)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Secretary&#8217;s Certificate and Good Standing Certificates</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  The Administrative Agent (or its counsel) shall have received (i) a certificate of each Loan Party, dated the Closing Date and executed by a secretary, assistant secretary or other similarly-titled Responsible Officer thereof, which shall (A) certify that (x) attached thereto is a true and complete copy of the certificate or articles of incorporation, formation or organization of such Loan Party, as applicable, certified by the relevant authority of its jurisdiction of organization, which certificate or articles of incorporation, formation or organization of such Loan Party, as applicable, have not been amended (except as attached thereto) since the date reflected thereon, (y) attached thereto is a true and correct copy of the by-laws or operating, management, partnership or similar agreement of such Loan </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-113-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">Party, as applicable, together with all amendments thereto as of the Closing Date and such by-laws or operating, management, partnership or similar agreement are in full force and effect and (z) attached thereto is a true and complete copy of the resolutions or written consent, as applicable, of its board of directors, board of managers, sole member, manager or other applicable governing body authorizing the execution and delivery of the Loan Documents, which resolutions or consent have not been modified, rescinded or amended (other than as attached thereto) and are in full force and effect, and (B) identify by name and title and bear the signatures of the officers, managers, directors or authorized signatories of such Loan Party, as applicable, authorized to sign the Loan Documents to which such Loan Party, as applicable, is a party and (ii) a good standing (or equivalent) certificate for such Loan Party, as applicable, from the relevant authority of its jurisdiction of organization, dated as of a recent date.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(d)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Representations and Warranties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  The representations and warranties of the Borrower set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Article 3</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt"> hereof and the representations and warranties of the applicable Loan Parties set forth in the other Loan Documents shall be true and correct in all material respects on and as of the Closing Date&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt"> that (A)&#160;in the case of any representation which expressly relates to a given date or period, such representation shall be true and correct in all material respects as of the respective date or for the respective period, as the case may be and (B)&#160;if any representation is qualified by or subject to a &#8220;material adverse effect,&#8221; &#8220;material adverse change&#8221; or similar term or qualification, such representation shall be true and correct in all respects.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(e)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Fees</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  Prior to or substantially concurrently with the funding of the Initial Term Loans hereunder, the Administrative Agent and the Arrangers shall have received (i) all fees required to be paid by the Borrower on the Closing Date as separately agreed among the Borrower, the Administrative Agent and the applicable Arrangers and (ii) all expenses required to be paid by the Borrower for which invoices have been presented at least three Business Days prior to the Closing Date or such later date to which the Borrower may agree (including the reasonable fees and expenses of legal counsel required to be paid), in each case on or before the Closing Date, which amounts may be offset against the proceeds of the Loans.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(f)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Solvency</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  The Administrative Agent (or its counsel) shall have received a certificate in substantially the form of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Exhibit&#160;O</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt"> from the chief financial officer (or other officer with reasonably equivalent responsibilities) of the Borrower dated as of the Closing Date and certifying as to the matters set forth therein.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(g)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Perfection Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  The Administrative Agent (or its counsel) shall have received a completed Perfection Certificate dated the Closing Date and signed by a Responsible Officer of each Loan Party, together with all attachments contemplated thereby.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(h)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Pledged Stock and Pledged Notes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  The Administrative Agent (or its counsel) shall have received (i) the certificates representing the Capital Stock required to be pledged pursuant to the Security Agreement, together with an undated stock power or similar instrument of transfer for each such certificate endorsed in blank by a duly authorized officer of the pledgor thereof, and (ii) each Material Debt Instrument (if any) endorsed (without recourse) in blank (or accompanied by a transfer form endorsed in blank) by the pledgor thereof.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">(i)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt;text-decoration:underline">Filings Registrations and Recordings</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.10pt">.  Each document (including any UCC (or similar) financing statement) required by any Collateral Document or under applicable Requirements of Law to be filed, registered or recorded in order to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a perfected Lien on the Collateral required to be delivered pursuant to such Collateral Document, which, if applicable, shall be in proper form for filing, registration or recordation.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-114-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">USA PATRIOT Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  No later than three Business Days in advance of the Closing Date, the Administrative Agent shall have received all documentation and other information reasonably requested with respect to any Loan Party in writing by any Initial Lender at least ten Business Days in advance of the Closing Date, which documentation or other information is required by regulatory authorities under applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the USA PATRIOT Act.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Officer&#8217;s Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.&#160;&#160;The Administrative Agent shall have received a certificate from a Responsible Officer of the Borrower certifying satisfaction of the conditions precedent set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 4.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">For purposes of determining whether the conditions specified in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 4.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> have been satisfied on the Closing Date, by funding the Loans hereunder, the Administrative Agent and each Lender shall be deemed to have consented to, approved or accepted, or to be satisfied with, each document or other matter required hereunder to be consented to or approved by or acceptable or satisfactory to the Administrative Agent or such Lender, as the case may be. </font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:100%"><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">ARTICLE 5</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">AFFIRMATIVE COVENANTS</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">From the Closing Date until the date on which all Commitments have expired or terminated and the principal of and interest on each Loan and all fees, expenses and other amounts and payment Obligations (other than (i) contingent indemnification obligations for which no claim or demand has been made and (ii) Secured Hedging Obligations under any Hedge Agreements as to which arrangements reasonably satisfactory to the applicable counterparty have been made) have been paid in full in Cash (such date, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Termination Date</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the Borrower hereby covenants and agrees with the Lenders that&#58;<br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 5.01.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"> Financial Statements and Other Reports.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  The Borrower will deliver to the Administrative Agent for delivery by the Administrative Agent, subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, to each Lender&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Quarterly Financial Statements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  As soon as available, and in any event within 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year, commencing with the Fiscal Quarter ending March 31, 2019 the consolidated balance sheet of Borrower and its Subsidiaries as at the end of such Fiscal Quarter and the related consolidated statements of operations (or income) and cash flows of Borrower and its Subsidiaries for such Fiscal Quarter and for the period from the beginning of the then current Fiscal Year to the end of such Fiscal Quarter, and setting forth, in reasonable detail, in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year, all in reasonable detail, together with a Financial Officer Certification (which may be included in the applicable Compliance Certificate) with respect thereto&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Annual Financial Statements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">. As soon as available, and in any event within 90 days after the end of each Fiscal Year ending after the Closing Date, (i) the consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of operations (or income), changes in equity and cash flows of the Borrower and its Subsidiaries for such Fiscal Year and setting forth, in reasonable detail, in comparative form the corresponding figures for the previous Fiscal Year and (ii) with respect to such consolidated financial statements, a report thereon of an independent certified public accountant of recognized </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-115-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">national standing (which report shall not be subject to a qualification as to the scope of such audit or &#8220;going concern&#8221; qualification (except (A) as resulting from the impending maturity of any permitted Indebtedness or anticipated or actual breach of any financial covenant, (B) the upcoming maturity of any Indebtedness within one year of the date such opinion is deliver or (C) the activities, operations, financial results, assets or liabilities of any Unrestricted Subsidiary) but may include a &#8220;going concern&#8221; explanatory paragraph or like statement), and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of the Borrower for, and as of the end of, such Fiscal Year in conformity with GAAP (such report and opinion, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Conforming Accounting Report</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Compliance Certificate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Together with each delivery of financial statements of the Borrower and its subsidiaries pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (i) a duly executed and completed Compliance Certificate, and (ii)&#160;(A)&#160;a summary of the pro forma adjustments necessary to eliminate the accounts of Unrestricted Subsidiaries (if any) from such financial statements and (B)&#160;a list identifying any change in the Subsidiaries of the Borrower as a Restricted Subsidiary or an Unrestricted Subsidiary as of the date of delivery of such Compliance Certificate or confirmation that there is no change in such information since the later of the Closing Date and the date of the last such list&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;&#91;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Reserved</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Notice of Default</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Promptly upon any Responsible Officer of the Borrower obtaining actual knowledge of any Default or Event of Default, a reasonably-detailed notice specifying the nature and period of existence of such event and what action the Borrower has taken, is taking and&#47;or proposes to take with respect thereto&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Notice of Litigation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Promptly upon any Responsible Officer of the Borrower obtaining actual knowledge of (i) the institution of, or threat of, any Adverse Proceeding not previously disclosed in writing by the Borrower to the Administrative Agent, or (ii) any material development in any Adverse Proceeding that, in the case of either of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses&#160;(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, could reasonably be expected to have a Material Adverse Effect, written notice thereof from the Borrower together with such other non-privileged information as may be reasonably available to the Loan Parties to enable the Lenders to evaluate such matters&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">ERISA</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Promptly upon any Responsible Officer of the Borrower obtaining actual knowledge of the occurrence of any ERISA Event that could reasonably be expected to have a Material Adverse Effect, a written notice specifying the nature thereof&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;Reserved&#93;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Information Regarding Collateral</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Prompt (and, in any event, within 60 days of the relevant change) written notice of any change (i) in any Loan Party&#8217;s legal name, (ii) in any Loan Party&#8217;s type of organization or (iii) in any Loan Party&#8217;s jurisdiction of organization, together with a certified copy of the applicable Organizational Document reflecting the relevant change&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Annual Collateral Verification</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Together with the delivery of each Compliance Certificate provided with the financial statements required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;5.01(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, a Perfection Certificate Supplement (or confirmation that there have been no </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-116-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">changes in such information since the Closing Date or the most recent Perfection Certificate Supplement provided)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(k)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Certain Reports</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Promptly upon their becoming available and without duplication of any obligations with respect to any such information that is otherwise required to be delivered under the provisions of any Loan Document, copies of all special reports and registration statements which the Borrower or any Restricted Subsidiary files with the SEC or any analogous Governmental Authority or with any national securities exchange, as the case may be (other than amendments to any registration statement (to the extent such registration statement, in the form it became effective, is delivered to the Administrative Agent), exhibits to any registration statement and, if applicable, any registration statement on Form S-8)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(l)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Other Information</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Such other certificates, reports and information (financial or otherwise) as the Administrative Agent may reasonably request from time to time regarding the financial condition or business of the Borrower and its Restricted Subsidiaries&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, that none of the Borrower or any Restricted Subsidiary shall be required to disclose or provide any information (a) that constitutes non-financial trade secrets or non-financial proprietary information of the Borrower or any of its subsidiaries or any of their respective borrowers, tenants or other occupants, joint venture partners, customers and&#47;or suppliers, (b) in respect of which disclosure to the Administrative Agent or any Lender (or any of their respective representatives) is prohibited by applicable Requirements of Law, (c) that is subject to attorney-client or similar privilege or constitutes attorney work product, (d) in respect of which the Borrower or any Restricted Subsidiary owes confidentiality obligations to any third party (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> such confidentiality obligations were not entered into in contemplation of the requirements of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 5.01(l)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">) or (e) to the extent applicable, which the Borrower or any Restricted Subsidiary is not reasonably able to obtain with respect to any obligor under any CRE Finance Asset or tenant or other occupant under any Real Estate Investment&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(m)&#160;&#160;&#160;&#160;promptly following any request therefor, solely to the extent actually required to comply with such laws at such time, information and documentation reasonably requested by the Administrative Agent or any Lender for purposes of compliance with applicable &#8220;know your customer&#8221; and anti-money laundering rules and regulations, including the </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.004em;line-height:12.20pt">USA PATRIOT Act</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and 31 C.F.R. 1010.230, in each case, solely to the extent actually required to comply with such rules and regulations at such time.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Documents required to be delivered pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section&#160;5.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower (or a representative thereof) (x) posts such documents or (y) provides a link thereto at http&#58;&#47;&#47;www.blackstonemortgagetrust.com&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that, other than with respect to items required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 5.01(k)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> above, the Borrower shall promptly notify (which notice may be by facsimile or electronic mail) the Administrative Agent of the posting of any such documents at http&#58;&#47;&#47;www.blackstonemortgagetrust.com and provide to the Administrative Agent by electronic mail electronic versions of such documents&#59; (ii) on which such documents are delivered by the Borrower to the Administrative Agent for posting on behalf of the Borrower on IntraLinks&#47;SyndTrak or another relevant website (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Platform</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;), if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent)&#59; (iii) on which such documents are faxed to the Administrative Agent (or electronically mailed to an address provided by the Administrative Agent)&#59; or (iv)&#160;in respect of the items required to be delivered pursuant to Sections&#160;5.01(a), 5.01(b) and 5.01(k) above in respect of information filed by the Borrower with any securities exchange or with the SEC or any analogous governmental or private regulatory authority with jurisdiction over matters relating to securities (including in Form 10-Q Reports and Form 10-K reports), on which such items have been made available on the SEC website or the website of the relevant analogous governmental or private </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-117-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">regulatory authority or securities exchange. Each Lender shall be solely responsible for timely accessing posted documents or requesting delivery of paper copies of such documents from the Administrative Agent and maintaining its copies of such documents. </font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Notwithstanding the foregoing, the obligations referred to in Section 5.01(a) and&#47;or 5.01(b) may be satisfied by filing the Borrower&#8217;s Form 10-K or 10-Q, as applicable, with the SEC or any securities exchange, in each case, within the time periods specified in Sections 5.01(a) or 5.01(b), as applicable (and the public filing of such report with the SEC or such securities exchange shall constitute delivery thereof for purposes of Section 5.01(a) and 5.01(b), as applicable)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> that to the extent such statements are provided in lieu of the statements required to be provided under Section 5.01(b), such statements shall include, or be accompanied by, a Conforming Accounting Report.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Any financial statement required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section&#160;5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> shall not be required to include acquisition accounting adjustments relating to any Permitted Acquisition, Investment or other transaction permitted under this Agreement, in each case, to the extent it is not practicable to include any such adjustments in such financial statement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Section 5.02. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Existence.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">  Except as otherwise permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section&#160;6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, the Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, at all times preserve and keep in full force and effect its existence and all rights, franchises, licenses and permits in the normal conduct of its business that are material to its business except, other than with respect to the preservation of the existence of the Borrower, to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse Effect&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> that neither the Borrower nor any of the Borrower&#8217;s Restricted Subsidiaries shall be required to preserve any such existence (other than with respect to the preservation of existence of the Borrower), right, franchise, license or permit if a Responsible Officer of such Person or such Person&#8217;s board of directors (or similar governing body) determines that the preservation thereof is no longer desirable in the conduct of the business of such Person.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Section 5.03. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Payment of Taxes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">.  The Borrower will, and the Borrower will cause each of its Restricted Subsidiaries to, timely pay all Taxes imposed upon it or any of its properties or assets or in respect of any of its income or businesses or franchises&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, that no such Tax need be paid if (a) it is being contested in good faith by appropriate proceedings, so long as (i) adequate reserves or other appropriate provisions, as are required in conformity with GAAP, have been made therefor and (ii) in the case of a Tax which has resulted or may result in the creation of a Lien on any of the Collateral, such contest proceedings conclusively operate to stay the sale of any portion of the Collateral to satisfy such Tax or (b) failure to pay or discharge the same could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">Section 5.04.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Maintenance of Properties</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">.  The Borrower will, and will cause each of its Restricted Subsidiaries to, maintain or cause to be maintained in good repair, working order and condition, ordinary wear and tear and casualty and condemnation excepted, all property reasonably necessary to the normal conduct of business of the Borrower and its Restricted Subsidiaries and from time to time will make or cause to be made all needed and appropriate repairs, renewals and replacements thereof except as expressly permitted by this Agreement or where the failure to maintain such properties or make such repairs, renewals or replacements could not reasonably be expected to have a Material Adverse Effect.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 5.05. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Insurance</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Except where the failure to do so would not reasonably be expected to have a Material Adverse Effect, the Borrower will maintain or cause to be maintained, with financially sound and reputable insurers that the Borrower believes (in the good faith and judgment of its management) are </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-118-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">financially sound and reputable at the time the relevant coverage is placed or renewed, or with a Captive Insurance Subsidiary, such insurance coverage with respect to liabilities, losses or damage in respect of the assets, properties and businesses of the Borrower and its Restricted Subsidiaries as may customarily be carried or maintained under similar circumstances by Persons of established reputation engaged in similar businesses, in each case in such amounts (giving effect to self-insurance), with such deductibles, covering such risks and otherwise on such terms and conditions as shall be customary for such Persons&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">that notwithstanding the foregoing, in no event will the Borrower or any Restricted Subsidiary be required to obtain or maintain insurance that is more restrictive than its normal course of practice.  Each such policy of insurance (excluding, for the avoidance of doubt, any business interruption insurance policy) shall, (i) in the case of each general liability policy in favor of any Loan Party, name the Administrative Agent on behalf of the Secured Parties as an additional insured thereunder as its interests may appear and (ii)&#160;in the case of each casualty insurance policy in favor of any Loan Party, to the extent available from the relevant insurance carrier, contain a lenders&#8217; loss payable clause or endorsement that names the Administrative Agent, on behalf of the Secured Parties as the lenders&#8217; loss payee thereunder.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 5.06. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Inspections</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  The Borrower will, and will cause each of its Restricted Subsidiaries to, permit any authorized representative designated by the Administrative Agent to visit and inspect any of the properties owned or leased by the Borrower and any of its Restricted Subsidiaries at which the principal financial records and executive officers of the applicable Person are located, to inspect and copy its and their respective financial and accounting records, and to discuss its and their respective affairs, finances and accounts with its and their Responsible Officers and independent public accountants at the expense of the Borrower (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that the Borrower (or any of its subsidiaries) may, if it so chooses, be present at or participate in any such discussion), all upon reasonable notice and at reasonable times during normal business hours&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that (a)&#160;only the Administrative Agent on behalf of the Lenders may exercise the rights of the Administrative Agent and the Lenders under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;5.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> and (b)&#160;except as expressly set forth in the proviso below during the continuance of an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, the Administrative Agent shall not exercise such rights more often than one time during any calendar year&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that when an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> exists and is continuing, the Administrative Agent (or any of its representatives) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon reasonable advance notice&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that notwithstanding anything to the contrary herein, neither the Borrower nor any Restricted Subsidiary shall be required to disclose, permit the inspection, examination or making of copies of or taking abstracts from, or discuss any document, information, or other matter (A) that constitutes non-financial trade secrets or non-financial proprietary information of the Borrower and its subsidiaries and&#47;or any of its borrowers, tenants or other occupants, joint venture partners, customers and&#47;or suppliers, (B) in respect of which disclosure to the Administrative Agent or any Lender (or any of their respective representatives or contractors) is prohibited by applicable Requirements of Law, (C) that is subject to attorney-client or similar privilege or constitutes attorney work product or (D)&#160;in respect of which the Borrower or any Restricted Subsidiary owes confidentiality obligations to any third party (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> such confidentiality obligations were not entered into in contemplation of the requirements of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;5.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">).  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 5.07. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Maintenance of Book and Records</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  The Borrower will, and will cause its Restricted Subsidiaries to, maintain proper books of record and account containing entries of all material financial transactions and matters involving the assets and business of the Borrower and its Restricted Subsidiaries that are full, true and correct in all material respects and permit the preparation of consolidated financial statements in accordance with GAAP.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 5.08. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Compliance with Laws</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  The Borrower will comply, and will cause each of its Restricted Subsidiaries to comply, with the requirements of all applicable Requirements of Law (including </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-119-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">applicable ERISA and all Environmental Laws, OFAC, the USA PATRIOT Act and the FCPA), except to the extent the failure of the Borrower or the relevant Restricted Subsidiary to comply could not reasonably be expected to have a Material Adverse Effect&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that the requirements set forth in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.08</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as they pertain to compliance by any Foreign Subsidiary with OFAC, the USA PATRIOT ACT and the FCPA are subject to and limited by any Requirement of Law applicable to such Foreign Subsidiary in its relevant local jurisdiction.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 5.09. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Environmental</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div style="margin-top:2pt;text-indent:18pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline"> Environmental Disclosure</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  The Borrower will deliver to the Administrative Agent as soon as practicable following the sending or receipt thereof by any Responsible Officer of the Borrower, written notice of (A) any Environmental Claim that, individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect, (B) any Release required to be reported by the Borrower or any of its Restricted Subsidiaries to any federal, state or local governmental or regulatory agency or other Governmental Authority that reasonably could be expected to have a Material Adverse Effect, (C)&#160;any request made to the Borrower or any of its Restricted Subsidiaries for information from any governmental agency that suggests such agency is investigating whether the Borrower or any of its Restricted Subsidiaries may be potentially responsible for any Hazardous Materials Activity which is reasonably expected to have a Material Adverse Effect and (D) subject to the limitations set forth above in the proviso in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.01(l)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, such other documents and information as from time to time may be reasonably requested by the Administrative Agent in relation to any matters disclosed pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.09(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b) &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Hazardous Materials Activities, Etc</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Subject to the rights of tenants or other occupants of any Real Estate Investment and obligors of any CRE Finance Asset, the Borrower shall promptly take, and shall cause each of its Restricted Subsidiaries promptly to take, any and all actions necessary to (i) cure any violation of applicable Environmental Laws by the Borrower or its Restricted Subsidiaries, and address with appropriate corrective or remedial action any known Release or threatened Release of Hazardous Materials at or from any Facility, in each case, that could reasonably be expected to have a Material Adverse Effect and (ii) make an appropriate response to any Environmental Claim against the Borrower or any of its Restricted Subsidiaries in their individual capacities and discharge any obligations it may have to any Person thereunder, in each case, where failure to do so could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 5.10.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Designation of Subsidiaries</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  The Borrower may at any time after the Closing Date designate (or re-designate) any subsidiary as an Unrestricted Subsidiary or any Unrestricted Subsidiary as a Restricted Subsidiary&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that (i)&#160;immediately after any such re-designation, no Event of Default exists (including after giving effect to the reclassification of Investments in, Indebtedness of and Liens on the assets of, the applicable Unrestricted Subsidiary), (ii) as of the date of the designation thereof, no Unrestricted Subsidiary shall own any Capital Stock in any Restricted Subsidiary of the Borrower (unless such Restricted Subsidiary is also designated as an Unrestricted Subsidiary) or hold any Indebtedness of or any Lien on any property of the Borrower or its Restricted Subsidiaries (unless the Borrower or such Restricted Subsidiary is permitted to incur such Indebtedness or Liens in favor of such Unrestricted Subsidiary pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Sections 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">) and (iii) subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> above, any subsidiary of an Unrestricted Subsidiary will be deemed to be an Unrestricted Subsidiary.  The designation of any Subsidiary as an Unrestricted Subsidiary shall constitute an Investment by the Borrower (or its applicable Restricted Subsidiary) therein at the date of designation in an amount equal to the portion of the fair market value of the net assets of such Subsidiary attributable to the Borrower&#8217;s (or its applicable Restricted </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-120-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Subsidiary&#8217;s) equity interest therein as reasonably estimated by the Borrower (and such designation shall only be permitted to the extent such Investment is permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">).  The designation of any Unrestricted Subsidiary as a Restricted Subsidiary shall constitute the making, incurrence or granting, as applicable, at the time of designation of any then-existing Investment, Indebtedness or Lien of such Subsidiary, as applicable&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that upon any re-designation of any Unrestricted Subsidiary as a Restricted Subsidiary, the Borrower shall be deemed to continue to have an Investment in the resulting Restricted Subsidiary in an amount (if positive) equal to (a) the Borrower&#8217;s &#8220;Investment&#8221; in such Restricted Subsidiary at the time of such re-designation, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">less</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> (b) the portion of the fair market value of the net assets of such Restricted Subsidiary attributable to the Borrower&#8217;s equity therein at the time of such re-designation.  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">Section 5.11. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">Use of Proceeds</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt">.   The Borrower shall use the proceeds of (a) the Initial Term Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents, including the payment of Transaction Costs, (b) 2019 Replacement Term Loans to prepay in full the outstanding principal amount of all Initial Term Loans on the First Amendment Effective Date, (c) the 2019 Incremental Term Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the First Amendment Transactions (as defined in the First Amendment)), (d) the Term B-2 Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Second Amendment Transactions (as defined in the Second Amendment) and the Third Amendment Transactions (as defined in the Third Amendment)), (e) the Additional 2019 New Term Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Fourth Amendment Transactions (as defined in the Fourth Amendment)), (f) the Replacement Term B-3 Loans to prepay in full the outstanding principal amount of all Term B-2 Loans on the Fifth Amendment Effective Date, (g) the Incremental Term B-3 Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Fifth Amendment Transactions (as defined in the Fifth Amendment)), (h) the Term B-4 Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Sixth Amendment Transactions (as defined in the Sixth Amendment) and the Seventh Amendment Transactions (as defined in the Seventh Amendment), (i) the Term B-5 Loans to prepay outstanding principal amount of 2019 New Term Loans and Term B-3 Loans on the Tenth Amendment Effective Date, (j) the Replacement Term B-6 Loans to prepay the outstanding principal amount of the Term B-5 Loans on the Eleventh Amendment Effective Date</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> (k) the Incremental Term B-6 Loans to prepay a portion of the outstanding principal amount of the Term B-4 Loans on the Eleventh Amendment Effective Date</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:line-through">.</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt;text-decoration:underline">, (l) the Replacement Term B-7 Loans to prepay the outstanding principal amount of the Term B-4 Loans on the Twelfth Amendment Effective Date and (m) the Incremental Term B-7 Loans to finance working capital needs and other general corporate purposes of the Borrower and for any other purpose not prohibited by the terms of the Loan Documents (including, without limitation, the repayment of any Asset Financing Facility or CRE Financing and&#47;or the payment of fees and expenses in connection with the Twelfth Amendment Transactions (as defined in the Twelfth Amendment)).</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.90pt"> </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-121-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 5.12.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Covenant to Guarantee Obligations and Give Security.</font></div><div style="margin-top:2pt;text-indent:18pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(a) &#160;&#160;&#160;&#160;Upon (i) the formation or acquisition after the Closing Date of any Restricted Subsidiary that is not an Excluded Subsidiary, including as a result of a Division, (ii) any Restricted Subsidiary that is a Domestic Subsidiary ceasing to be an Excluded Subsidiary (including pursuant to the last sentence of the definition of &#8220;Guarantor&#8221;) or (iii) the designation of a Discretionary Guarantor, (x) if the designation of any Unrestricted Subsidiary that is a Domestic Subsidiary as&#160; Restricted Subsidiary or the event giving rise to the obligation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> occurs during the first three Fiscal Quarters of any Fiscal Year, on or before the date on which financial statements are required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> for the Fiscal Quarter in which the relevant formation, acquisition, designation or cessation occurred or (y) if the designation of any Unrestricted Subsidiary that is a Domestic Subsidiary as&#160; Restricted Subsidiary or the event giving rise to the obligation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> occurs during the fourth Fiscal Quarter of any Fiscal Year, on or before the date that is 60 days after the end of such Fiscal Quarter (or, in the cases of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clauses (x)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, such longer period as the Administrative Agent may reasonably agree), the Borrower shall (A) cause such Restricted Subsidiary (other than any Excluded Subsidiary) to comply with the requirements set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> of the definition of &#8220;Collateral and Guarantee Requirement&#8221; and (B) upon the reasonable request of the Administrative Agent, cause the relevant Restricted Subsidiary (other than any Excluded Subsidiary) or Discretionary Guarantor to deliver to the Administrative Agent a signed copy of a customary opinion of counsel for such Restricted Subsidiary or Discretionary Guarantor, addressed to the Administrative Agent and the other relevant Secured Parties.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(b) &#160;&#160;&#160;&#160;Within 120 days after the acquisition by any Loan Party of any Material Real Estate Asset other than any Excluded Asset (or such longer period as the Administrative Agent may reasonably agree), the Borrower shall cause such Loan Party to comply with the requirements set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> of the definition of &#8220;Collateral and Guarantee Requirement&#8221; (it being understood and agreed that, with respect to any Material Real Estate Asset owned by any Restricted Subsidiary at the time such Restricted Subsidiary is required to become a Loan Party under Section 5.12(a) above, such Material Real Estate Asset shall be deemed to have been acquired by such Restricted Subsidiary on the last day of the time period within which such Restricted Subsidiary becomes a Loan Party under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(c) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary herein or in any other Loan Document, it is understood and agreed that&#58;</font></div><div style="margin-bottom:12pt;padding-left:31.5pt;text-indent:27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"><br>&#160;&#160;&#160;&#160;(i) &#160;&#160;&#160;&#160;the Administrative Agent may grant extensions of time (at any time, including after the expiration of any relevant period, which will be retroactive) for the creation and perfection of security interests in, or obtaining of title insurance, legal opinions, surveys or other deliverables with respect to, particular assets or the provision of any Loan Guaranty by any Restricted Subsidiary (in connection with assets acquired, or Restricted Subsidiaries formed or acquired after the Closing Date), and each Lender hereby consents to any such extension of time,</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(ii) &#160;&#160;&#160;&#160;any Lien required to be granted from time to time pursuant to the definition of &#8220;Collateral and Guarantee Requirement&#8221; shall be subject to the exceptions and limitations set forth in the Collateral Documents,</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(iii) &#160;&#160;&#160;&#160;perfection by control shall not be required with respect to assets requiring perfection through control agreements or other control arrangements (other than control of pledged Capital Stock and&#47;or Material Debt Instruments, in each case to the extent otherwise constituting Collateral),</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-122-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(iv)&#160;&#160;&#160;&#160; no Loan Party shall be required to seek any landlord lien waiver, bailee letter, estoppel, warehouseman waiver or other collateral access or similar letter or agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v) no Loan Party will be required to (A) take any action outside of the U.S. in order to create or perfect any security interest in any asset located outside of the U.S., (B) execute any foreign law security agreement, pledge agreement, mortgage, deed or charge or (C) make any foreign intellectual property filing, conduct any foreign intellectual property search or prepare any foreign intellectual property schedule&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vi)&#160;&#160;&#160;&#160; in no event will the Collateral include any Excluded Asset,</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vii) &#160;&#160;&#160;&#160;no action shall be required to perfect any Lien with respect to (1)&#160;any vehicle or other asset subject to a certificate of title, (2) letter-of-credit rights, (3) the Capital Stock of any Immaterial Subsidiary and&#47;or (4) the Capital Stock of any Person that is not a Subsidiary, which Person, if a Subsidiary, would constitute an Immaterial Subsidiary, in each case except to the extent that a security interest therein can be perfected by filing a Form UCC-1 (or similar) financing statement under the UCC,</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(viii) &#160;&#160;&#160;&#160;any joinder or supplement to any Loan Guaranty, any Collateral Document and&#47;or any other Loan Document executed by any Restricted Subsidiary that is required to become a Loan Party pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above may, with the consent of the Administrative Agent (not to be unreasonably withheld or delayed), include such schedules (or updates to schedules) as may be necessary to ensure that any representation or warranty is true and correct to the extent required thereby or by the terms of any other Loan Document, and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:45pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ix)&#160;&#160;&#160;&#160; any time periods to comply with the foregoing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.12(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not apply to Discretionary Guarantors&#59;</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not apply to the Capital Stock or assets of a Foreign Discretionary Guarantor that becomes a Guarantor pursuant to the last sentence of the definition of &#8220;Guarantor.&#8221;</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 5.13.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Maintenance of Ratings</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The Borrower shall use commercially reasonable efforts to maintain public corporate credit facility and public corporate family ratings from each of S&#38;P and Moody&#8217;s&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that in no event shall the Borrower be required to maintain any specific rating with any such agency.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 5.14.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Further Assurances.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">  Promptly upon request of the Administrative Agent and subject to the limitations described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;Subject to the rights of tenants or other occupants of any Real Estate Investment and obligors of any CRE Finance Asset (in each case, to the extent such rights were not created in contemplation of the requirements of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 5.14(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">), the Borrower will, and will cause each other Loan Party to, execute any and all further documents, financing statements, agreements, instruments, certificates, notices and acknowledgments and take all such further actions (including the filing and recordation of financing statements, fixture filings, Mortgages and&#47;or amendments thereto and other documents), that may be required under any applicable Requirements of Law and which the Administrative Agent may reasonably request to ensure the creation, perfection and priority of the Liens created or intended to be created under the Collateral Documents, all at the expense of the relevant Loan Parties.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-123-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;The Borrower will, and will cause each other Loan Party to (i) correct any material defect or error that may be discovered in the execution, acknowledgment, filing or recordation of any Collateral Document or other document or instrument relating to any Collateral and (ii) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts (including notices to third parties), deeds, certificates, assurances and other instruments as the Administrative Agent may reasonably request from time to time in order to ensure the creation, perfection and priority of the Liens created or intended to be created under the Collateral Documents.</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:12.20pt"><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">ARTICLE 6</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"><br>NEGATIVE COVENANTS</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">From the Closing Date and until the Termination Date, the Borrower covenants and agrees with the Lenders that&#58;</font></div><div style="margin-top:2pt;text-indent:18pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 6.01. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or otherwise become or remain liable with respect to any Indebtedness, except&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(a)&#160;&#160;&#160;&#160;the Obligations (including any Additional Term Loans)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b)&#160;&#160;&#160;&#160;Indebtedness of the Borrower to any Restricted Subsidiary and&#47;or of any Restricted Subsidiary to the Borrower and&#47;or any other Restricted Subsidiary&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that in the case of any Indebtedness of any Restricted Subsidiary that is not a Loan Party owing to any Restricted Subsidiary that is a Loan Party, such Indebtedness shall be permitted as an Investment under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, that any Indebtedness of any Loan Party owed to any Restricted Subsidiary that is not a Loan Party must be expressly subordinated to the Obligations of such Loan Party on terms that are reasonably acceptable to the Administrative Agent (including pursuant to an Intercompany Note)&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(c)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(d)&#160;&#160;&#160;&#160;Indebtedness arising from any agreement providing for indemnification, adjustment of purchase price or similar obligations (including contingent earn-out obligations) incurred in connection with any Disposition permitted hereunder, any acquisition permitted hereunder or consummated prior to the Closing Date and not in contemplation thereof or any other purchase of assets or Capital Stock, and Indebtedness arising from guarantees, letters of credit, bank guarantees, surety bonds, performance bonds or similar instruments securing the performance of the Borrower or any such Restricted Subsidiary pursuant to any such agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(e)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any 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style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-124-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(including depository, overdraft, controlled disbursement, ACH transactions, return items and interstate depository network services), employee credit card programs, cash pooling services and any arrangements or services similar to any of the foregoing and&#47;or otherwise in connection with Cash management and Deposit Accounts, including incentive, supplier finance or 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style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;guarantees by the Borrower and&#47;or any Restricted Subsidiary of Indebtedness or other obligations of the Borrower or any Restricted Subsidiary with respect to Indebtedness otherwise permitted to be incurred pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or other obligations not prohibited by this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that in the case of any Guarantee by any Loan Party of the obligations of any non-Loan Party, the related Investment is permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any Restricted Subsidiary existing, or pursuant to commitments existing, on the Closing Date and, to the extent in excess of $6,000,000 described on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Schedule&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any Restricted Subsidiary consisting of obligations owing under incentive, supply, license or similar agreements entered into in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any Restricted Subsidiary consisting of (i) the financing of insurance premiums, (ii) take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business and&#47;or (iii)&#160;obligations to reacquire assets or inventory in connection with customer financing arrangements in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any Restricted Subsidiary with respect to Finance Leases and purchase money Indebtedness in an aggregate outstanding principal amount not to exceed the greater of $50,000,000 and 0.36% of Consolidated Total Assets as 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New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-125-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">employee, member of management, manager or consultant of the Borrower or any Subsidiary (or their respective Immediate Family Members) to finance the purchase or redemption of Capital Stock of the Borrower permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;6.04(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(p)&#160;&#160;&#160;&#160;Indebtedness refinancing, refunding or replacing any Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(r)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(u)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Refinancing Indebtedness</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">&#8221;) and any subsequent Refinancing Indebtedness in respect thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> that&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the principal amount of such Indebtedness does not exceed the principal amount of the Indebtedness being refinanced, refunded or replaced, except by (A)&#160;an amount equal to unpaid accrued interest, penalties and premiums (including tender premiums) thereon plus underwriting discounts, other reasonable and customary fees, commissions and expenses (including upfront fees, original issue discount or initial yield payments) incurred in connection with the relevant refinancing, refunding or replacement and the related refinancing transaction, (B)&#160;an amount equal to any existing commitments unutilized thereunder and (C)&#160;additional amounts permitted to be incurred pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> that (x) any additional Indebtedness referenced in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause (C)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> satisfies the other applicable requirements of this definition (with additional amounts incurred in reliance on this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clause (C)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> constituting a utilization of the relevant basket or exception pursuant to which such additional amount is permitted) and (y) if such additional Indebtedness is secured, the Lien securing such Indebtedness satisfies the applicable requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">),</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;other than in the case of Refinancing Indebtedness with respect to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clauses&#160;(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">,  </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(r)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(u)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (and other than customary bridge loans with a maturity date of not longer than one year&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> that any loans, notes, securities or other Indebtedness which are exchanged for or otherwise replace such bridge loans shall 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refinanced, refunded or replaced (without giving effect to any Prepayments thereof) or (y) a Weighted Average Life to Maturity equal to or greater than the remaining Weighted Average Life to Maturity of the outstanding 2019 New Term Loans, Term B-3 Loans, Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> Loans and Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> Loans at such time,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(iii)&#160;&#160;&#160;&#160;&#91;reserved&#93;,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(iv)&#160;&#160;&#160;&#160;in the case of Refinancing Indebtedness with respect to Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">clauses&#160;(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(r)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(u)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt"> (solely as it relates to the Base Incremental Amount) of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">, the incurrence thereof shall be without duplication of any amounts outstanding in reliance on the relevant clause,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160;except in the case of Refinancing Indebtedness incurred in respect of Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> incurred as Replacement Term Loans, (A)&#160;such Indebtedness, if secured, is secured only by Permitted Liens at the time of </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-126-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">such refinancing, refunding or replacement (it being understood that secured Indebtedness may be refinanced with unsecured Indebtedness), and, to the extent the Liens securing such Indebtedness were contractually subordinated at time of such refinancing to the Liens on the Collateral securing the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans and&#47;or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans, the Liens securing such Indebtedness either constitute Permitted Liens (other than pursuant to Section 6.02(k)) or are subordinated to the Liens on the Collateral securing the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans and&#47;or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> Loans on terms not materially less favorable (as reasonably determined by the Borrower), taken as a whole, to the Lenders than those applicable to the Liens securing the Indebtedness being refinanced, refunded or replaced, taken as a whole, or set forth in, or otherwise subject to, an Acceptable Intercreditor Agreement, (B) such Indebtedness is incurred by the obligor or obligors in respect of the Indebtedness being refinanced, refunded or replaced, except to the extent otherwise permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (C) if the Indebtedness being refinanced, refunded or replaced was expressly contractually subordinated to the Obligations in right of payment, (x) such Indebtedness is contractually subordinated to the Obligations in right of payment, or (y) if not contractually subordinated to the Obligations in right of payment, the purchase, defeasance, redemption, repurchase, repayment, refinancing or other acquisition or retirement of such Indebtedness is permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(b)(i),</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">(vi)&#160;&#160;&#160;&#160;in the case of Replacement Notes, (A) such Indebtedness is </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> or junior in right of payment and secured by the Collateral on a </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.60pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> or junior basis with respect to the remaining Obligations hereunder, or is unsecured&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> that any such Indebtedness that is secured by Liens on the Collateral shall be subject to any applicable Acceptable Intercreditor Agreements, (B) such Indebtedness is not secured by any assets other than the Collateral and shall not be incurred or Guaranteed by any Person other than one or more Loan Parties, (C) such Indebtedness is incurred under (and pursuant to) documentation other than this Agreement, and (D) if such Replacement Notes are incurred to refinance Indebtedness outstanding under the Loan Documents, then, except as otherwise set forth above in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">Section 6.01(p)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">, the other terms and conditions of such Replacement Notes, if not substantially identical to those applicable to the Indebtedness being refinanced (as determined by the Borrower in good faith), must either, at the option of the Borrower, (x) not be materially more restrictive to the Borrower and its Restricted Subsidiaries (as determined by the Borrower in good faith) than (when taken as a whole) those contained in the Indebtedness being refinanced (other than any terms which are applicable only after the then-existing Latest Maturity Date with respect to such Indebtedness), (y) be conformed (or added) to the Loan Documents for the benefit of the applicable Term Lenders or, as applicable, the Administrative Agent (i.e., by conforming or adding a term to the then-outstanding Term Loans pursuant to the applicable Incremental Facility Amendment, it being understood that, without limitation, any amendment or modification to the Loan Documents that solely adds one or more terms for the benefit of the existing Term Lenders shall not require the consent of any such existing Term Lender so long as the form (but not the substance) of the applicable agreement effecting such amendment or modification is reasonably satisfactory to the Administrative Agent) or (z) reflect then current market terms and conditions (taken as a whole) at the time of incurrence or issuance (as determined by the Borrower in good faith)&#59; it being understood and agreed that any such Indebtedness that is pari passu with the 2019 New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:line-through">-4 Loans, Term B-5</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">-6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> Loans and&#47;or the Term B</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:line-through">-6</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt;text-decoration:underline">-7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt"> Loans hereunder in right of payment and secured by the Collateral on a pari passu basis with the Liens on the Collateral securing the 2019 </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-127-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">New Term Loans, the Term B-3 Loans, the Term B</font><font style="color:#ff0000;font-family:'Times New 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Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">(r)&#160;&#160;&#160;&#160;Indebtedness of the Borrower and&#47;or any Restricted Subsidiary in an aggregate outstanding principal amount not to exceed 200% of the amount of Net Proceeds received by the Borrower from any cash contribution (made in Cash or converted into Cash) to the common equity of the Borrower and from the issuance and sale by the Borrower of its Qualified Capital Stock, in each case, (i) other than any Net Proceeds received from the sale of Capital Stock to, or contributions from, the Borrower or any of its Restricted Subsidiaries and (ii) other than the Available Excluded Contribution Amount, Cure Amounts and amounts otherwise applied under the Available Amount to incur a transaction (the amount of any Net Proceeds or contribution utilized to incur Indebtedness in reliance on this </font><font style="color:#000000;font-family:'Times New 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style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">))&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">(v)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">(w)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.60pt">(x)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New 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style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(bb)&#160;&#160;&#160;&#160;Indebtedness of any Restricted Subsidiary that is not a Loan Party under any Asset Financing Facility or CRE Financing (and any Guarantees and co-borrower obligations of the Borrower, any Restricted Subsidiary that is a Loan Party or any Restricted Subsidiary that is not a Loan Party, in each case, with respect to the foregoing), in each case, (i) to the extent that such Indebtedness and obligations are not secured by the assets of any Loan Party (other than Capital Stock held by such Loan Party that constitutes Capital Stock issued by any Person that is not a Loan Party and is an obligor, or provides credit support, with respect to such Indebtedness) and (ii) so long as the Borrower is in compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt"> calculated on a Pro Forma Basis&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(cc)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(dd)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(ee)&#160;&#160;&#160;&#160;unfunded pension 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style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">(c)&#160;&#160;&#160;&#160;statutory or common law Liens (and rights of set-off) of landlords, banks, brokers, carriers, warehousemen, mechanics, repairmen, workmen and materialmen, and other Liens imposed by applicable Requirements of Law, in each case incurred in the ordinary course of </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-129-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.60pt">business (i)&#160;for amounts not yet overdue by more than 90 days, (ii)&#160;for amounts that are overdue by more than 90 days and that are being contested in good faith by appropriate proceedings, so long as any reserves or other appropriate provisions required by GAAP have been made for any such contested amounts or (iii)&#160;with respect to which the failure to make payment would not reasonably be expected to have a Material Adverse Effect&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New 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and subject to the provisions (including with respect to priority and whether permitted to be secured) set forth in, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01(p)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (solely with respect to the permitted refinancing of (x) Indebtedness permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.01(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that, in the case of Indebtedness incurred pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, such Liens extend only to Collateral) and (y) Indebtedness that is secured in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02(u)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (without duplication of any amount outstanding thereunder))&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (i) no such Lien extends to any asset not covered by the Lien securing the Indebtedness that is being refinanced unless otherwise permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (ii) if the Lien securing the Indebtedness being refinanced applied to Collateral and was subject to intercreditor arrangements, then any Lien as to such Collateral securing any refinancing Indebtedness in respect thereof shall be subject to (A)&#160;intercreditor arrangements that are not materially less favorable to the Secured Parties, taken as a whole, than the intercreditor arrangements governing the Lien securing the Indebtedness that is refinanced or (B)&#160;an Acceptable Intercreditor Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;Liens existing, or required pursuant to commitments existing on the Closing Date and, to the extent any such Lien secures amounts in excess of $6,000,000, described on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Schedule&#160;6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and any modification, replacement, refinancing, renewal or extension thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (i) no such Lien extends to any additional property other than (A) after-acquired property that is affixed or incorporated into the property covered by such Lien or financed by Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (B) proceeds and products thereof, replacements, accessions or additions thereto and improvements thereon (it being understood that individual financings of the type permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates) and (C) Liens otherwise permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, and (ii)&#160;any such modification, replacement, refinancing, renewal or extension of the obligations secured or benefited by such Liens, if constituting Indebtedness, is permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(n)&#160;&#160;&#160;&#160;Liens securing Indebtedness permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that any such Lien shall encumber only the asset acquired with the proceeds of such Indebtedness and proceeds and products thereof, replacements, accessions or additions thereto and improvements thereon (it being understood that individual financings of the type permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> provided by any lender may be cross-collateralized to other financings of such type provided by such lender or its affiliates)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(o)&#160;&#160;&#160;&#160;(i)</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Liens securing Indebtedness permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on the relevant acquired assets or on the Capital Stock and assets of the relevant acquired Subsidiary at the time such Person becomes a Subsidiary and (ii) Liens on property or other assets at the time the Borrower or a Restricted Subsidiary acquired the property or such other assets, including any acquisition by means of a merger, amalgamation or consolidation with or into the Borrower or any Restricted Subsidiary&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that no such Lien (x) extends to or covers any other assets (other than the proceeds or products thereof, replacements, accessions or additions thereto and improvements thereon) or (y) was created in contemplation of the applicable acquisition or Investment or in contemplation of such Person becoming a Subsidiary&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-131-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(p)&#160;&#160;&#160;&#160;(i) Liens that are contractual rights of setoff or netting relating to (A) the establishment of depositary relations with banks not granted in connection with the issuance of Indebtedness, (B) pooled deposit or sweep accounts of the Borrower or any Restricted Subsidiary to permit satisfaction of overdraft or similar obligations incurred in the ordinary course of business of the Borrower or any Restricted Subsidiary, (C) purchase orders and other agreements entered into with customers of the Borrower or any Restricted Subsidiary in the ordinary course of business and (D)&#160;commodity trading or other brokerage accounts incurred in the ordinary course of business, (ii)&#160;Liens encumbering reasonable customary initial deposits and margin deposits, (iii) bankers Liens and rights and remedies as to Deposit Accounts, (iv) Liens of a collection bank arising under Section 4-208 or 4-210 of the UCC on items in the ordinary course of business, (v) Liens in favor of banking or other financial institutions arising as a matter of Law or under customary general terms and conditions encumbering deposits or other funds maintained with a financial institution and that are within the general parameters customary in the banking industry or arising pursuant to such banking institution&#8217;s general terms and conditions, (vi) Liens on the proceeds of any Indebtedness incurred in connection with any transaction permitted hereunder, which proceeds have been deposited into an escrow account on customary terms to secure such Indebtedness pending the application of such proceeds to finance such transaction, (vii) Liens of the type described in the foregoing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(v)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> securing obligations under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 6.01(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01(s)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.01(ff)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (viii) Liens in favor of any servicer, depository or cash management bank, title company, custodian, bailee or other service provider in connection with the administration of any Asset Financing Facility or CRE Financing&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(q)&#160;&#160;&#160;&#160;Liens on assets and Capital Stock of Restricted Subsidiaries that are not Loan Parties (including Capital Stock owned by such Persons) securing Indebtedness, Refinancing Indebtedness and other obligations of Restricted Subsidiaries that are not Loan Parties permitted under this Agreement (or co-borrower or guarantee obligations of any Loan Party with respect to Indebtedness and other obligations permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(bb)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as to which any Restricted Subsidiary that is not a Loan Party is the primary obligor thereunder)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(r)&#160;&#160;&#160;&#160;Liens securing obligations (other than obligations representing Indebtedness for borrowed money) under operating, reciprocal easement or similar agreements entered into in the ordinary course of business of the Borrower and&#47;or its Restricted Subsidiaries&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(s)&#160;&#160;&#160;&#160;Liens securing Indebtedness incurred in reliance on, and subject to the provisions, (including with respect to priority and whether permitted to be secured), set forth in, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that any Lien that is granted in reliance on this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (s)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on the Collateral shall be subject to an Acceptable Intercreditor Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(t)&#160;&#160;&#160;&#160;Liens on assets securing Asset Financing Facilities and CRE Financings&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that no such Lien extends to any additional assets other than (i) the CRE Finance Assets or Real Estate Investments, as applicable, financed by such Asset Financing Facility or CRE Financing, as applicable,(ii) any corresponding Financing Equity and (iii) other assets ancillary to such CRE Finance Asset or Real Estate Investments owned by the Financing SPE Subsidiary under such Asset Financing Facility or CRE Financing, as applicable&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(u)&#160;&#160;&#160;&#160;(i) Liens on assets 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%">obligations not to exceed the amount under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)(x)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that is then reallocated to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01(u)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160;(i) Liens on assets securing judgments, awards, attachments and&#47;or decrees and notices of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">lis pendens</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and associated rights relating to litigation being contested in good faith not constituting an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;7.01(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (ii)&#160;any pledge and&#47;or deposit securing any settlement of litigation&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(w)&#160;&#160;&#160;&#160;(i) leases, subleases, licenses, sublicense concessions or other occupancy agreements granted to others in the ordinary course of business (determined by the Borrower in good faith) which do not secure any Indebtedness, and (ii) restrictions and encumbrances to which the interest or title of the Borrower or any Restricted Subsidiary as lessor, sub-lessor, licensor or sub-licensor may be subject in connection therewith (including, without limitation, under any non-disturbance provisions)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(x)&#160;&#160;&#160;&#160;Liens on Securities that are the subject of repurchase agreements constituting Investments permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> arising out of such repurchase transaction&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(y)&#160;&#160;&#160;&#160;Liens securing obligations in respect letters of credit, bank guaranties, surety bonds, performance bonds or similar instruments permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(aa)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(z)&#160;&#160;&#160;&#160;Liens arising (i) out of conditional sale, title retention, consignment or similar arrangements for the sale of any asset in the ordinary course of business and permitted by this Agreement or (ii) by operation of law under Article 2 of the UCC (or similar Requirement of Law under any jurisdiction)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(aa)&#160;&#160;&#160;&#160;Liens (i) in favor of any Loan Party and&#47;or (ii) granted by any non-Loan Party in favor of any Restricted Subsidiary that is not a Loan Party&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(bb)&#160;&#160;&#160;&#160;Liens on insurance policies and the proceeds thereof securing the financing of the premiums with respect thereto&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(cc)&#160;&#160;&#160;&#160;Liens on specific items of inventory or other goods and the proceeds thereof securing the relevant Person&#8217;s obligations in respect of documentary letters of credit or banker&#8217;s acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or goods&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(dd)&#160;&#160;&#160;&#160;licenses, sublicenses and cross-licenses involving any IP Rights in the ordinary course of business or on a non-exclusive basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ee)&#160;&#160;&#160;&#160;(i) Liens on Capital Stock of joint ventures or Unrestricted Subsidiaries securing capital contributions to, or obligations of, such Persons, (ii) rights of first refusal and tag, drag, forced sale, major decisions and similar rights in joint venture agreements and agreements with respect to non-Wholly-Owned Subsidiaries, in each case, in the ordinary course of business (determined by the Borrower in good faith) and (iii) Liens on Capital Stock in joint ventures pursuant to the relevant joint venture agreement or arrangement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ff)&#160;&#160;&#160;&#160;Liens on cash or Cash Equivalents arising in connection with the defeasance, discharge or redemption of Indebtedness&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-133-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(gg)&#160;&#160;&#160;&#160;Liens consisting of the prior rights of consignees and their lenders under consignment arrangements entered into in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(hh)&#160;&#160;&#160;&#160;Liens on the Collateral (i) ranking </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:13.20pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> in right of priority with the Liens on the Collateral securing the Term Loans to the extent the Senior Debt to Total Assets Ratio does not exceed 80.0% on a Pro Forma Basis and (ii) ranking junior in right of priority to the Liens on the Collateral securing the Term Loans to the extent the Total Debt to Total Assets Ratio does not exceed 82.0% on a Pro Forma Basis&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that, in the case of each of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(ii</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">), such Liens shall be subject to any applicable Acceptable Intercreditor Agreement&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(ii)&#160;&#160;&#160;&#160;Liens on the Securitization Assets arising in connection with a Qualified Securitization Financing&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(jj)&#160;&#160;&#160;&#160;Liens disclosed in any Mortgage Policy delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> with respect to any Material Real Estate Asset and any replacement, extension or renewal thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that no such replacement, extension or renewal Lien shall cover any property other than the property that was subject to such Lien prior to such replacement, extension or renewal (and additions thereto, improvements thereon and the proceeds thereof)&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(kk)&#160;&#160;&#160;&#160;Liens on Financing Equity or CRE Finance Assets securing funding obligations or commitments of the Borrower or any Financing SPE Subsidiary in respect of such CRE Finance Asset (including such Liens provided under any co-lender, intercreditor, participation or similar agreement).</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 6.03. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">&#91;Reserved&#93;.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> </font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 6.04. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Restricted Payments&#59; Restricted Debt Payments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(a) &#160;&#160;&#160;&#160;The Borrower shall not pay or make, directly or indirectly, any Restricted Payment, except that&#58; </font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"><br>&#160;&#160;&#160;&#160;(i) &#160;&#160;&#160;&#160;the Borrower may make Restricted Payments consisting of dividends or other similar distributions on account of its Capital Stock declared by the Borrower in any Fiscal Quarter&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that such dividends or similar distributions may be paid by the Borrower within 60 calendar days following the date that such dividend or other distribution is declared by the Borrower&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that, solely for purposes of this clause (i), the amount of such dividends or distributions declared in any Fiscal Quarter as to which Restricted Payments are made pursuant to this clause (i) shall not exceed the greater of (x) the amount necessary to enable the Borrower to maintain its REIT Status (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that the Borrower may make such distributions in the form of cash or Cash Equivalents notwithstanding whether dividends in a form other than cash or Cash Equivalents would be sufficient to maintain the Borrower&#8217;s REIT Status) and (y) 100.0% of estimated Core Earnings of the Borrower and its Subsidiaries, determined in good faith by the Borrower on a run-rate basis as of the date of declaration of the relevant Restricted Payment, for the full fiscal quarter in which the applicable Restricted Payment is declared&#59;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(ii) &#160;&#160;&#160;&#160;the Borrower may pay to repurchase, redeem, retire or otherwise acquire or retire for value the Capital Stock of the Borrower or any Subsidiary held by any present or former employee, director, member of management, officer, manager or consultant (or any Affiliate or </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-134-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Immediate Family Member thereof) of the Borrower or any Subsidiary (or of the Manager or any Affiliate thereof)&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(A)&#160;&#160;&#160;&#160;with Cash and Cash Equivalents (and including, to the extent constituting a Restricted Payment, amounts paid in respect of promissory notes issued to evidence any obligation to repurchase, redeem, retire or otherwise acquire or retire for value the Capital Stock of the Borrower or any Subsidiary held by any present or former employee, director, member of management, officer, manager or consultant (or any Affiliate or Immediate Family Member thereof) of the Borrower or any Subsidiary (or of the Manager or any Affiliate thereof)) in an amount not to exceed, in any Fiscal Year, the greater of $25,000,000 and 0.18% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis, which, if not used in such Fiscal Year, shall be carried forward to succeeding Fiscal Years&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(B)&#160;&#160;&#160;&#160;with the proceeds of any sale or issuance of, or any capital contribution in respect of, the Capital Stock of the Borrower (to the extent such proceeds are contributed in respect of Qualified Capital Stock to the Borrower or any Restricted Subsidiary (other than any such proceeds or contribution that forms part of any Available Excluded Contribution Amount, Cure Amount or outstanding Contribution Indebtedness Amount or to the extent such proceeds or contribution has increased the Available Amount and is applied to incur an applicable transaction under the Available Amount))&#59; or</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(C)&#160;&#160;&#160;&#160;with the net proceeds of any key-man life insurance policies&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160; the Borrower may make Restricted Payments in an amount not to exceed (A) the portion, if any, of the Available Amount on such date that the Borrower elects to apply to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iii)(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and&#47;or (B) the portion, if any, of the unutilized Available Excluded Contribution Amount on such date that the Borrower elects to apply to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iii)(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv) &#160;&#160;&#160;&#160;the Borrower may make Restricted Payments consisting of Cash payments in lieu of the issuance of fractional shares in connection with the exercise, settlement, grant or vesting of warrants, options or other securities convertible into or exchangeable for, or otherwise based on, Capital Stock of the Borrower&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v) &#160;&#160;&#160;&#160;the Borrower may repurchase Capital Stock upon the exercise, settlement, grant or vesting of warrants, options or other securities convertible into or exchangeable for, or otherwise based on, Capital Stock if such Capital Stock represents all or a portion of the exercise price of, or tax withholdings with respect to, such warrants, options or other securities convertible into or exchangeable for, or otherwise based on, Capital Stock&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vi)&#160;&#160;&#160;&#160; &#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vii) &#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(viii) &#160;&#160;&#160;&#160;the Borrower may make Restricted Payments to (i) redeem, repurchase, retire or otherwise acquire any Capital Stock (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Treasury Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) of the Borrower and&#47;or any Restricted Subsidiary in exchange for, or out of the proceeds of the substantially concurrent sale (other than to the Borrower and&#47;or any Restricted Subsidiary) of, Qualified Capital Stock of the Borrower to the extent any such proceeds are contributed to the capital of the Borrower and&#47;or </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-135-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:49.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any Restricted Subsidiary in respect of Qualified Capital Stock (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Refunding Capital Stock</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) and (ii) declare and pay dividends on any Treasury Capital Stock out of the proceeds of the substantially concurrent sale (other than to the Borrower or a Restricted Subsidiary) of any Refunding Capital Stock&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that any amount applied to make a Restricted Payment pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (viii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not be applied or used as any Cure Amount or any Contribution Indebtedness Amount or to increase the Available Amount or the Available Excluded Contribution Amount&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ix) &#160;&#160;&#160;&#160;to the extent constituting a Restricted Payment, the Borrower may consummate any transaction permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 6.06(j)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(t)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.07(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.09(d),</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(j)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(q)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(x) &#160;&#160;&#160;&#160;the Borrower may make Restricted Payments in an aggregate amount not to exceed the greater of $350,000,000 and 2.5% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis, so long as no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> exists, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">minus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> any amounts then reallocated at the election of the Borrower (and without duplication) to Section 6.01(u), Section 6.04(b)(iv) or Section 6.06(q)(i) at such time of determination&#59;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xi)&#160;&#160;&#160;&#160; &#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xii) &#160;&#160;&#160;&#160;the Borrower may make Restricted Payments with the Capital Stock of, or Indebtedness owed to the Borrower or a Restricted Subsidiary by, Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and&#47;or Cash Equivalents contributed by the Borrower and its Restricted Subsidiaries)&#59; and</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(xiii)&#160;&#160;&#160;&#160; the Borrower may declare and make dividend payments or other Restricted Payments payable solely in the Capital Stock of the Borrower.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(b) &#160;&#160;&#160;&#160;The Borrower shall not, nor shall it permit any Restricted Subsidiary to, make any Prepayment in respect of principal of any Junior Debt, including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any Junior Debt more than one year prior to the scheduled maturity date thereof (collectively, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Restricted Debt Payments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;), except&#58; </font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(i) &#160;&#160;&#160;&#160;with respect to any purchase, defeasance, redemption, repurchase, repayment or other acquisition or retirement of Junior Debt made by exchange for, or out of the proceeds of, either (x) Refinancing Indebtedness or (y) any other Indebtedness or Disqualified Capital Stock permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#59; </font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(ii) &#160;&#160;&#160;&#160;as part of an applicable high yield discount obligation catch-up payment&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(iii) &#160;&#160;&#160;&#160;payments of regularly scheduled interest (including any penalty interest, if applicable) and payments of fees, expenses and indemnification obligations as and when due (other than payments with respect to Junior Debt that are prohibited by the subordination provisions thereof)&#59;</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv) &#160;&#160;&#160;&#160;Restricted Debt Payments in an aggregate amount not to exceed the portion, if any, of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)(x)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> at such time of determination that the Borrower elects to reallocate to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-136-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v) &#160;&#160;&#160;&#160;(A) Restricted Debt Payments in exchange for, or with proceeds of any issuance of, Qualified Capital Stock of the Borrower and&#47;or any capital contribution in respect of Qualified Capital Stock of the Borrower, in each case, other than any such issuance to, or contribution by, any Restricted Subsidiary and except to the extent such amount is applied as any Cure Amount or utilized to incur outstanding Indebtedness pursuant to the Contribution Indebtedness Amount or to make any Restricted Payment, Investment or Restricted Debt Payment pursuant to the Available Amount or the Available Excluded Contribution Amount, (B) Restricted Debt Payments as a result of the conversion of all or any portion of any Junior Debt into Qualified Capital Stock of the Borrower and (C) to the extent constituting a Restricted Debt Payment, payment-in-kind interest with respect to any Junior Debt that is permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vi) &#160;&#160;&#160;&#160;Restricted Debt Payments in an aggregate amount not to exceed (A) the portion, if any, of the Available Amount on such date that the Borrower elects to apply to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (vi)(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (B) the portion, if any, of the Available Excluded Contribution Amount on such date that the Borrower elects to apply to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(vi)(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; and</font></div><div style="margin-bottom:12pt;padding-left:49.5pt;text-indent:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vii) &#160;&#160;&#160;&#160;(A) Restricted Debt Payments of Junior Debt made with Declined Proceeds (it being understood that any Declined Proceeds applied to make Restricted Debt Payments in reliance on this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(b)(vii)(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall not increase the amount available under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)(ix)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the definition of &#8220;Available Amount&#8221; to the extent so applied) and (B) Restricted Debt Payments of Junior Debt to the extent such Junior Debt was assumed in connection with a Permitted Acquisition or other permitted Investment, which such assumption by permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, and such Junior Debt was not issued in contemplation of such Permitted Acquisition.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 6.05. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Burdensome Agreements.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  Except as provided herein or in any other Loan Document and&#47;or in agreements with respect to refinancings, renewals or replacements of such Indebtedness that are permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into or cause to exist any agreement restricting the ability of (x) any Restricted Subsidiary of the Borrower that is not a Loan Party to pay dividends or other distributions to the Borrower or any Loan Party, (y) any Restricted Subsidiary that is not a Loan Party to make cash loans or advances to the Borrower or any Loan Party or (z)&#160;any Loan Party to create, permit or grant a Lien on any of its properties or assets to secure the Secured Obligations (each, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Burdensome Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), except restrictions&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;set forth in any agreement evidencing or relating to (i)&#160;Indebtedness of a Restricted Subsidiary that is not a Loan Party permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (ii) Indebtedness permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that is secured by a Permitted Lien if the relevant restriction applies only to the Person obligated under such Indebtedness and its Restricted Subsidiaries or the assets intended to secure such Indebtedness and (iii)&#160;Indebtedness permitted pursuant to clauses (m), (p) (as it relates to Indebtedness in respect of clauses&#160;(a), (m), (r), (u) and&#47;or (y) of Section 6.01), (r), (u), (y), (bb) or (ff) of Section&#160;6.01&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;arising under customary provisions restricting assignments, subletting, licensing, sublicensing or other transfers (including the granting of any Lien) contained in CRE Finance Assets, Real Estate Investments, leases, subleases, licenses, sublicenses, concessions, occupancy agreements, joint venture agreements, co-lender agreements, intercreditor agreements, participation agreements, purchase and sale agreements, servicing agreements, custodial agreements and other </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-137-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">agreements entered into in the ordinary course of business (determined by the Borrower in good faith)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;that are or were created by virtue of any Lien granted upon, transfer of, agreement to transfer or grant of, any option or right with respect to any assets or Capital Stock not otherwise prohibited under this Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;that are assumed in connection with any acquisition of property or the Capital Stock of any Person, so long as the relevant encumbrance or restriction relates solely to the Person and its subsidiaries (including the Capital Stock of the relevant Person or Persons) and&#47;or property so acquired and was not created in connection with or in anticipation of such acquisition&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160;set forth in any agreement for any Disposition of any Restricted Subsidiary (or all or substantially all of the assets thereof) that restricts the payment of dividends or other distributions or the making of cash loans or advances by such Restricted Subsidiary pending such Disposition&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160;set forth in provisions in agreements or instruments which prohibit the payment of dividends or the making of other distributions with respect to any class of Capital Stock of a Person other than on a pro rata basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;imposed by customary provisions in partnership agreements, limited liability company organizational governance documents, joint venture agreements and other similar agreements&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;on Cash, other deposits or net worth or similar restrictions imposed by any Person under any contract entered into in the ordinary course of business or for whose benefit such Cash, other deposits or net worth or similar restrictions exist&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;set forth in documents which exist on the Closing Date and were not created in contemplation thereof&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;arising pursuant to an agreement or instrument relating to any Indebtedness permitted to be incurred after the Closing Date if the relevant restrictions, taken as a whole, are not materially less favorable to the Lenders than the restrictions contained in this Agreement, taken as a whole (as determined in good faith by the Borrower)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;arising under or as a result of applicable Requirements of Law or the terms of any license, authorization, concession or permit&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;arising in any Hedge Agreement (or any other agreement relating to any Derivative Transaction permitted under this Agreement) or any customary agreement in respect of deposit, treasury or cash management services&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;relating to any asset (or all of the assets) of and&#47;or the Capital Stock of the Borrower and&#47;or any Restricted Subsidiary which is imposed pursuant to an agreement entered into in connection with any Disposition of such asset (or assets) and&#47;or all or a portion of the Capital Stock of the relevant Person that is permitted or not restricted by this Agreement&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-138-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(n)&#160;&#160;&#160;&#160;set forth in any agreement relating to any Permitted Lien that limit the right of the Borrower or any Restricted Subsidiary to Dispose of or encumber the assets subject thereto&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(o)&#160;&#160;&#160;&#160;set forth in agreements entered into in connection with the administration, operation or management of CRE Finance Assets, Asset Financing Facilities, Real Estate Investments and&#47;or CRE Financings in the ordinary course of business (as determined in good faith by the Borrower)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(p)&#160;&#160;&#160;&#160;imposed by any amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing of any contract, instrument or obligation referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that no such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing is, in the good faith judgment of the Borrower, more restrictive with respect to such restrictions, taken as a whole, than those in existence prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 6.06. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Investments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, make or own any Investment in any other Person except&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;Cash or Investments that were Cash Equivalents at the time made&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;(i)&#160;Investments in the Borrower and&#47;or one or more Restricted Subsidiaries and (ii) Investments made by any Loan Party and&#47;or any Restricted Subsidiary that is not a Loan Party in the form of any contribution to or Disposition of the Capital Stock of any Person to the Borrower or any Restricted Subsidiary&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;Investments (i) constituting deposits, prepayments and&#47;or other credits to suppliers, (ii)&#160;made in connection with obtaining, maintaining or renewing client and customer contracts and&#47;or (iii) in the form of advances made to distributors, suppliers, licensors and licensees, in each case, in the ordinary course of business or, in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, to the extent necessary to maintain the ordinary course of supplies to the Borrower or any Restricted Subsidiary&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;Investments in any Similar Business (including, for the avoidance of doubt, to the extent constituting a Similar Business, joint ventures) in an aggregate outstanding amount not to exceed the greater of $50,000,000 and 0.36% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160;Permitted Acquisitions&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160;Investments (i) existing on, or contractually committed to or contemplated as of, the Closing Date and, to the extent any such Investment in excess of $6,000,000, described on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Schedule&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (ii) any modification, replacement, renewal or extension of any Investment described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above so long as no such modification, renewal or extension increases the amount of such Investment except by the terms thereof or as otherwise permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;Investments received in lieu of Cash in connection with any Disposition permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or any other disposition of assets not constituting a Disposition&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-139-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;loans or advances to present or former employees, directors, members of management, officers, managers or consultants or independent contractors (or their respective Immediate Family Members) of the Borrower, its Subsidiaries, the Manager (or its Affiliates) and&#47;or any joint venture to the extent permitted by Requirements of Law, in connection with such Person&#8217;s purchase of Capital Stock of the Borrower, either (i) in an aggregate principal amount not to exceed the greater of $10,000,000 and 0.0725% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis at any one time outstanding or (ii) so long as the proceeds of such loan or advance are substantially contemporaneously contributed to the Borrower for the purchase of such Capital Stock&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;Investments consisting of (or resulting from) Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than Indebtedness permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.01(b</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), Permitted Liens, Restricted Payments permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)(ix)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), Restricted Debt Payments permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and mergers, consolidations, amalgamations, liquidations, windings up, dissolutions or Dispositions permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.07(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (if made in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">subclause (ii)(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the proviso thereto), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (if made in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> therein), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07(c)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (if made in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> therein) and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.07(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;Investments (including debt obligations and Capital Stock) received (i)&#160;in connection with the bankruptcy or reorganization of any Person, (ii)&#160;in settlement of delinquent obligations of, or other disputes with, customers, suppliers and other account debtors arising in the ordinary course of business, (iii)&#160;upon foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment and&#47;or (iv) as a result of the settlement, compromise, resolution of litigation, arbitration or other disputes&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;loans and advances of payroll payments or other compensation to present or former employees, directors, members of management, officers, managers or consultants of the Borrower or its Restricted Subsidiaries, in each case, to the extent such payments or other compensation relate to services provided to the Borrower or its Restricted Subsidiaries in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(n)&#160;&#160;&#160;&#160;Investments to the extent that payment therefor is made solely with Qualified Capital Stock of the Borrower, in each case, to the extent not 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the date of the relevant acquisition, merger, amalgamation or consolidation and (ii) any modification, replacement, renewal or extension of any Investment permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.06(o)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> so long as no such modification, replacement, renewal or extension thereof </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-140-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">increases the original amount of such Investment except as otherwise permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(p)&#160;&#160;&#160;&#160;Investments in CRE Finance Assets and Real Estate Investments&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(q)&#160;&#160;&#160;&#160;Investments made after the Closing Date by the Borrower and&#47;or any of its Restricted Subsidiaries in an aggregate amount at any time outstanding not to exceed, without duplication&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(i)&#160;&#160;&#160;&#160;the sum of (X) greater of $50,000,000 and 0.36% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis 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Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus </font></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;(ii)&#160;&#160;&#160;&#160;in the event that (A) the Borrower or any of its Restricted Subsidiaries makes any Investment after the Closing Date in any Person that is not a Restricted Subsidiary and (B) such Person subsequently becomes a Restricted Subsidiary, an amount equal to 100.0% of the fair market value of such Investment as of the date on which such Person becomes a Restricted Subsidiary&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(r)&#160;&#160;&#160;&#160;Investments made after the Closing Date by the Borrower and&#47;or any of its 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style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(x)&#160;&#160;&#160;&#160;Investments in any joint ventures and Unrestricted Subsidiaries in an aggregate amount not to exceed the greater of $50,000,000</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and 0.36% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(y)&#160;&#160;&#160;&#160;Investments made in joint ventures as required by, or made pursuant to, customary buy&#47;sell arrangements between the joint venture parties set forth in joint venture agreements and similar binding arrangements entered into in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(z)&#160;&#160;&#160;&#160;Investments made in connection with any nonqualified deferred compensation plan or arrangement for any present or former employees, directors, members of management, officers, managers or consultants or independent contractors (or their respective Immediate Family Members) of the Borrower, its Subsidiaries, the Manager (or its Affiliates) and&#47;or any joint venture&#59;</font></div><div 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style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> exists or would result therefrom and (y) on a Pro Forma Basis, the Total Debt to Total Assets Ratio does not exceed 82.0% as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(cc)&#160;&#160;&#160;&#160;any Investment made by any Unrestricted Subsidiary prior to the date on which such Unrestricted Subsidiary is designated as a Restricted Subsidiary so long as the relevant Investment was not made in contemplation of the designation of such Unrestricted Subsidiary as a Restricted Subsidiary&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(dd)&#160;&#160;&#160;&#160;Investments consisting of the licensing or contribution of IP Rights pursuant to joint marketing arrangements with other Persons&#59; and </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ee)&#160;&#160;&#160;&#160;so long as the Borrower would be in compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on a Pro Forma Basis, (i) Investments in a Securitization Subsidiary or any Investment by a Securitization Subsidiary in any other Person in connection with a Qualified Securitization Financing&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">however</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that any such Investment in a Securitization Subsidiary is in the form of a contribution of additional Securitization Assets or equity and (ii) distributions or payments of Securitization Fees and purchases of Securitization Assets pursuant to a Securitization Repurchase Obligation in connection with a Qualified Securitization Financing.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 6.07. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Fundamental Changes&#59; Disposition of Assets</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction of merger, consolidation or amalgamation, consummate a Division as the Dividing Person, or liquidate, wind up or dissolve themselves (or suffer any liquidation or dissolution), or otherwise make any Disposition of any assets, except&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(a)&#160;&#160;&#160;&#160;(i) any Restricted Subsidiary may be merged, consolidated or amalgamated with or into the Borrower or any other Restricted Subsidiary and (ii) any Restricted Subsidiary may consummate a Division as the Dividing Person if, immediately upon the consummation of the Division, the assets of the applicable Dividing Person are held by one or more Subsidiaries at such time, or, with respect to assets not so held by one or more Subsidiaries, such Division, in the aggregate, would otherwise result in a Disposition permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Section 6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> (other than Section </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-142-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">6.07 (a)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> that (A) in the case of any such merger, consolidation or amalgamation with or into the Borrower, (1) the Borrower shall be the continuing or surviving Person or (2) if the Person formed by or surviving any such merger, consolidation or amalgamation is not the Borrower (any such Person, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Successor Borrower</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">&#8221;), (x) the Successor Borrower shall be an entity organized or existing under the law of the U.S., any state thereof or the District of Columbia, (y) the Successor Borrower shall expressly assume the Obligations of the Borrower in a manner reasonably satisfactory to the Administrative Agent and (z) except as the Administrative Agent may otherwise agree, each Guarantor, unless it is the other party to such merger, consolidation or amalgamation, shall have executed and delivered a reaffirmation agreement with respect to its obligations under the Loan Guaranty and the other Loan Documents&#59; it being understood and agreed that if the foregoing conditions under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clauses (x)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> are satisfied, the Successor Borrower will succeed to, and be substituted for, the Borrower under this Agreement and the other Loan Documents, and (B)&#160;in the case of any such merger or Division, consolidation or amalgamation with or into the Borrower or any Subsidiary Guarantor, either (1) the Borrower or a Subsidiary Guarantor shall be the continuing or surviving Person or the continuing or surviving Person shall expressly assume the obligations of the Borrower or Subsidiary Guarantor in a manner reasonably satisfactory to the Administrative Agent or (2) the relevant transaction shall be treated as an Investment and shall comply with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(b)&#160;&#160;&#160;&#160;Dispositions (including of Capital Stock) among the Borrower and&#47;or any Restricted Subsidiary (upon voluntary liquidation or otherwise) (including as a result of a Division)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(c)&#160;&#160;&#160;&#160;(i) the liquidation or dissolution of any Restricted Subsidiary if the Borrower determines in good faith that such liquidation or dissolution is in the best interests of the Borrower, is not materially disadvantageous to the Lenders and the Borrower or any Restricted Subsidiary receives any assets of the relevant dissolved or liquidated Restricted Subsidiary&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> that in the case of any liquidation or dissolution of any Loan Party that results in a distribution of assets to any Restricted Subsidiary that is not a Loan Party, such distribution shall be treated as an Investment and shall comply with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> (other than in reliance on </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (j)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> thereof)&#59; (ii) any merger or Division, amalgamation, dissolution, liquidation or consolidation, the purpose of which is to effect (A) any Disposition otherwise permitted under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Section 6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> or this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">) or (B) any Investment permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">&#59; and (iii) the conversion of the Borrower or any Restricted Subsidiary into another form of entity, so long as such conversion does not adversely affect the value of the Loan Guaranty or Collateral, if any&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(d)&#160;&#160;&#160;&#160;(x)&#160;Dispositions of obsolete, damaged or worn out property or assets, inventory, equipment and other assets in the ordinary course of business (as determined in good faith by the management of the Borrower), and property or assets no longer used or useful in the ordinary course or the principal business of the Borrower and its Restricted Subsidiaries) and (y)&#160;the leasing or subleasing of real property in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(e)&#160;&#160;&#160;&#160;Dispositions of surplus, obsolete, used or worn out property or other property that, in the reasonable judgment of the Borrower, is (A) no longer useful in its business (or in the business of any Restricted Subsidiary of the Borrower) or (B) otherwise economically impracticable to maintain&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-143-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160;Dispositions of Cash and&#47;or Cash Equivalents and&#47;or other assets that were Cash Equivalents when the relevant original Investment was made&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;Dispositions, mergers, Divisions, amalgamations, consolidations or conveyances that constitute (w)&#160;Investments permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.06(j)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), (x)&#160;Permitted Liens and (y)&#160;Restricted Payments permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.04(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.04(a)(ix)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;Dispositions for fair market value&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that with respect to any such Disposition involving assets with a purchase price in excess of the greater of $45,000,000 and 0.35% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis, at least 75% of the consideration for such Disposition shall consist of Cash or Cash Equivalents (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that for purposes of the 75% Cash consideration requirement, (w) the amount of any Indebtedness or other liabilities (other than Indebtedness or other liabilities that are subordinated to the Obligations or that are owed to the Borrower or any Restricted Subsidiary) of the Borrower or any Restricted Subsidiary (as shown on such Person&#8217;s most recent balance sheet or statement of financial position (or in the notes thereto)) that are assumed by the transferee of any such assets and for which the Borrower and&#47;or its applicable Restricted Subsidiary have been validly released by all relevant creditors in writing, (x) the amount of any trade-in value applied to the purchase price of any replacement assets acquired in connection with such Disposition, (y) any Securities received by the Borrower or any Restricted Subsidiary from such transferee that are converted by such Person into Cash or Cash Equivalents (to the extent of the Cash or Cash Equivalents received) within 180 days following the closing of the applicable Disposition and (z) any Designated Non-Cash Consideration received in respect of such Disposition having an aggregate fair market value, taken together with all other Designated Non-Cash Consideration received pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that is at that time outstanding, not in excess of the greater of $105,000,000 and 0.75% of Consolidated Total Assets as of the last day of the most recently ended Test Period, in each case, shall be deemed to be Cash)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that (x) on the date on which the agreement governing such Disposition is executed, no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> exists and (y) the Net Proceeds of such Disposition shall be applied and&#47;or reinvested as (and to the extent) required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.11(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;to the extent that (i) the relevant property is exchanged for credit against the purchase price of similar replacement property or (ii) the proceeds of the relevant Disposition are promptly applied to the purchase price of such replacement property&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;Dispositions of investments in joint ventures to the extent required by, or made pursuant to, customary buy&#47;sell arrangements between the joint venture parties set forth in joint venture arrangements and similar binding arrangements&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;Dispositions of notes receivable or accounts receivable in the ordinary course of business (including any discount and&#47;or forgiveness thereof) or in connection with the collection or compromise thereof&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;Dispositions and&#47;or terminations of leases, subleases, licenses or sublicenses (including the provision of software under any open source license), (i) the Disposition or termination of which will not materially interfere with the business of the Borrower and its Restricted Subsidiaries or (ii) which relate to closed facilities or the discontinuation of any product line&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-144-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;(i)&#160;any termination of any lease in the ordinary course of business, (ii)&#160;any expiration of any option agreement in respect of real or personal property and (iii)&#160;any surrender or waiver of contractual rights or the settlement, release or surrender of contractual rights or litigation claims (including in tort) in the ordinary course of business&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(n)&#160;&#160;&#160;&#160;Dispositions of property subject to foreclosure, casualty, eminent domain or condemnation proceedings (including in lieu thereof or any similar proceeding)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(o)&#160;&#160;&#160;&#160;Dispositions or consignments of equipment, inventory or other assets (including leasehold interests in real property) with respect to facilities that are temporarily not in use, held for sale or closed&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(p)&#160;&#160;&#160;&#160;Dispositions of Real Estate Investments in the ordinary course of business (as determined in good faith by the Borrower)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(q)&#160;&#160;&#160;&#160;Disposition of any assets (i) acquired in a acquisition or other investment permitted hereunder, which assets are (x) not used or useful in the ordinary course or the principal business of the Borrower and its Restricted Subsidiaries or (y) non-core assets or unnecessary to the business or operations of the Borrower and its Restricted Subsidiaries or (ii) made in connection with the approval of any applicable antitrust authority or otherwise necessary or advisable in the good faith determination of the Borrower to consummate any acquisition permitted hereunder&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(r)&#160;&#160;&#160;&#160;exchanges or swaps, including transactions covered by Section&#160;1031 of the Code (or any comparable provision of any foreign jurisdiction), of assets so long as any such exchange or swap is made for fair value (as reasonably determined by the Borrower) for like assets&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that, upon the consummation of any such exchange or swap by any Loan Party, to the extent the assets received do not constitute an Excluded Asset, the Administrative Agent has a perfected Lien with the same priority as the Lien held on the Real Estate Assets so exchanged or swapped&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(s)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(t)&#160;&#160;&#160;&#160;(i) licensing, sublicensing and cross-licensing arrangements involving any IP Rights of the Borrower or any Restricted Subsidiary in the ordinary course of business and (ii)&#160;Dispositions, abandonments, cancellations or lapses of IP Rights, or issuances or registrations, or applications for issuances or registrations, of IP Rights, which, in the reasonable business judgment of the Borrower, are not material to the conduct of the business of the Borrower or its Restricted Subsidiaries, or are no longer economical to maintain in light of its use&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(u)&#160;&#160;&#160;&#160;terminations or unwinds of Derivative Transactions&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160;Dispositions of Capital Stock of, or sales of Indebtedness or other Securities of, Unrestricted Subsidiaries&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(w)&#160;&#160;&#160;&#160;&#91;reserved&#93;&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(x)&#160;&#160;&#160;&#160;Dispositions made to comply with any order of any Governmental Authority or any applicable Requirement of Law&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-145-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(y)&#160;&#160;&#160;&#160;any merger, consolidation, Disposition or conveyance the sole purpose of which is to reincorporate or reorganize (i) any Domestic Subsidiary in another jurisdiction in the U.S. and&#47;or (ii) any Foreign Subsidiary in the U.S. or any other jurisdiction&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(z)&#160;&#160;&#160;&#160;any sale of motor vehicles and information technology equipment purchased at the end of an operating lease and resold thereafter&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(aa)&#160;&#160;&#160;&#160;Dispositions involving assets having a fair market value (as reasonably determined by the Borrower at the time of the relevant Disposition) of not more than the greater of $50,000,000 and 0.36% of Consolidated Total Assets as of the last day of the most recently ended Test Period calculated on a Pro Forma Basis in any Fiscal Year, which, if not used in such Fiscal Year, shall be carried forward to succeeding Fiscal Years&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(bb)&#160;&#160;&#160;&#160;so long as the Borrower would be in compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> on a Pro Forma Basis, any Disposition of Securitization Assets to a Securitization Subsidiary&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that such Disposition shall be for no less than the fair market value of such property at the time of such Disposition as determined by the Borrower in good faith&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(cc)&#160;&#160;&#160;&#160;any Disposition of Securitization Assets (other than to a Securitization Subsidiary) or related assets in connection with any Qualified Securitization Financing.</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">To the extent that any Collateral is Disposed of as expressly permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to any Person other than a Loan Party, such Collateral shall be sold free and clear of the Liens created by the Loan Documents, which Liens shall be automatically released upon the consummation of such Disposition&#59; it being understood and agreed that the Administrative Agent shall be authorized to take, and shall take, any actions deemed appropriate in order to effect the foregoing in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> hereof.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 6.08. &#91;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Reserved&#93;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 6.09. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Transactions with Affiliates</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  The Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, enter into any transaction (including the purchase, sale, lease or exchange of any property or the rendering of any service) involving payment in excess of $15,000,000 with any of their respective Affiliates on terms that are less favorable to the Borrower or such Restricted Subsidiary, as the case may be (as reasonably determined by the Borrower), than those that might be obtained at the time in a comparable arm&#8217;s-length transaction from a Person who is not an Affiliate&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that the foregoing restriction shall not apply to&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;any transaction between or among the Borrower and&#47;or one or more Restricted Subsidiaries (or any entity that becomes a Restricted Subsidiary as a result of such transaction) to the extent permitted or not restricted by this Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b)&#160;&#160;&#160;&#160;any issuance, sale or grant of securities or other payments, awards or grants in cash, securities or otherwise pursuant to, or the funding of employment arrangements, stock options, incentive equity awards and similar arrangements, and stock or other equity ownership plans approved by the board of directors (or equivalent governing body) of the Borrower or any Restricted Subsidiary&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;(i) any collective bargaining, employment or severance agreement or compensatory (including profit sharing) arrangement entered into by the Borrower or any of its Restricted Subsidiaries with their respective current or former officers, directors, members of management, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-146-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">managers, employees, consultants or independent contractors of the Borrower or its Subsidiaries (or of the Manager or its Affiliates), (ii) any subscription agreement or similar agreement pertaining to the repurchase of Capital Stock pursuant to put&#47;call rights or similar rights with current or former officers, directors, members of management, managers, employees, consultants or independent contractors and (iii) transactions pursuant to any employee compensation, benefit plan, stock option, equity incentive plan or similar arrangement and stock or other equity ownership plans, any health, disability or similar insurance plan which covers current or former officers, directors, members of management, managers, employees, consultants or independent contractors or any employment contract or arrangement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;(i) transactions permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(o)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(ee)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.06(h)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(m)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(o)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(t)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(z)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(aa)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and (ii) issuances of Capital Stock and issuances and incurrences of Indebtedness not restricted by this Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e)&#160;&#160;&#160;&#160;transactions in existence on the Closing Date and any amendment, modification or extension thereof to the extent such amendment, modification or extension, taken as a whole, is not (i) materially adverse to the Lenders or (ii) more disadvantageous to the Lenders than the relevant transaction in existence on the Closing Date&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(f)&#160;&#160;&#160;&#160;(i) so long as no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">7.01(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">7.01(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> then exists or would result therefrom (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that during such an Event of Default such fees may continue to accrue and become payable upon the waiver, termination or cure of the relevant Event of Default), the payment of management, monitoring, consulting, transaction, oversight, advisory and similar fees to the Manager (or its Affiliates) pursuant to any management agreement in place from time to time between the Borrower and the Manager (to the extent such management agreement is approved or ratified by the board of directors of the Borrower) and (ii) the payment or reimbursement of all indemnification obligations and expenses owed to the Manager (or its Affiliates) and any of their respective directors, officers, members of management, managers, employees and consultants, in each case whether currently due or paid in respect of accruals from prior periods&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;the Transactions, including the payment of Transaction Costs&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;customary compensation to Affiliates of the Borrower (or the Manager or Affiliates thereof) in connection with financial advisory, financing, underwriting or placement services or in respect of other investment banking activities and other transaction fees, which payments are approved by the board of directors (or similar governing body) of the Borrower in good faith&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;Guarantees permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.06</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;transactions among the Borrower and its Restricted Subsidiaries that are otherwise permitted (or not restricted) under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;the payment of customary fees and reasonable out-of-pocket costs to, and indemnities provided on behalf of, members of the board of directors (or similar governing body), officers, employees, members of management, managers, consultants and independent contractors of the Borrower and&#47;or any of its Restricted Subsidiaries in the ordinary course of business&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-147-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(l)&#160;&#160;&#160;&#160;transactions with customers, clients, suppliers, joint ventures, purchasers or sellers of goods or services or providers of employees or other labor entered into in the ordinary course of business, which are (i) fair to the Borrower and&#47;or its applicable Restricted Subsidiary in the good faith determination of the board of directors (or similar governing body) of the Borrower or the senior management thereof or (ii) on terms at least as favorable as might reasonably be obtained from a Person other than an Affiliate&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(m)&#160;&#160;&#160;&#160;the payment of reasonable out-of-pocket costs and expenses related to registration rights and customary indemnities provided to shareholders under any shareholder agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(n)&#160;&#160;&#160;&#160;any transaction in respect of which the Borrower delivers to the Administrative Agent a letter addressed to the board of directors (or equivalent governing body) of the Borrower from an accounting, appraisal or investment banking firm of nationally recognized standing stating that such transaction is on terms that are no less favorable to the Borrower or the applicable Restricted Subsidiary than might be obtained at the time in a comparable arm&#8217;s length transaction from a Person who is not an Affiliate&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(o)&#160;&#160;&#160;&#160;the non-exclusive licensing of trademarks, copyrights or other Intellectual Property in the ordinary course of business to permit the commercial exploitation of Intellectual Property between or among Affiliates and Subsidiaries of the Borrower&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(p)&#160;&#160;&#160;&#160;any Disposition of Securitization Assets or related assets in connection with any Qualified Securitization Financing&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(q)&#160;&#160;&#160;&#160;any customary tax sharing agreements or arrangements entered into among the Borrower and any Affiliates or Subsidiaries of the Borrower&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(r)&#160;&#160;&#160;&#160;any (x) disposition of CRE Finance Assets, Real Estate Investments and&#47;or related assets in connection with any Asset Financing Facility and&#47;or CRE Financing, and any transaction in connection therewith and (y) any transaction in connection with the servicing, administration, operation or management (including property management) of CRE Finance Assets and&#47;or Real Estate Investments in the ordinary course of business (as determined in good faith by the Borrower).</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 6.10. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Conduct of Business</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  From and after the Closing Date, the Borrower shall not, nor shall it permit any of its Restricted Subsidiaries to, engage in any material line of business other than a business which is not prohibited from being conducted by such Person while maintaining REIT Status with respect to the Borrower (including, without limitation, to the extent </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">not</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> prohibited from being conducted by such Person while maintaining REIT Status with respect to the Borrower, (x) similar, incidental, complementary, ancillary or related businesses to the businesses engaged in by the Borrower or any Restricted Subsidiary on the Closing Date and (y) any business permitted to be engaged in by a &#8220;taxable REIT subsidiary&#8221; (as defined in Section 856 of the Code) pursuant to Section 856, et seq. of the Code).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 6.11. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">&#91;Reserved&#93;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 6.12. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Fiscal Year</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  The Borrower shall not change its Fiscal Year-end to a date other than December&#160;31&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that the Borrower may, upon written notice to the Administrative Agent, change the Fiscal Year-end of the Borrower to another date, in which case the Borrower and the Administrative Agent </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-148-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">will, and are hereby authorized to, make any adjustments to this Agreement that are necessary to reflect such change in Fiscal Year.  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 6.13. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Financial Covenant.</font></div><div style="margin-top:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Total Debt to Total Assets Ratio</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  As of the last day of each Fiscal Quarter commencing with the Fiscal Quarter ending December 31, 2019, the Borrower shall not permit the Total Debt to Total Assets Ratio to be greater than 83.333% (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Financial Covenant</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;). </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Financial Cure</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  </font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary in this Agreement (including </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), upon the occurrence of an Event of Default as a result of the Borrower&#8217;s failure to comply with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above for any Fiscal Quarter, the Borrower shall have the right (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Cure Right</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) (at any time during such Fiscal Quarter or thereafter until the date that is 15 Business Days after the date on which financial statements for such Fiscal Quarter are required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as applicable) to issue Qualified Capital Stock for Cash or otherwise receive Cash contributions in respect of its Qualified Capital Stock (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Cure Amount</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), and thereupon the Borrower&#8217;s compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be recalculated giving effect to a pro forma increase in the amount of Consolidated Total Assets by an amount equal to the Cure Amount solely for the purpose of determining compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as of the end of such Fiscal Quarter and for applicable subsequent Fiscal Quarters. If, after giving effect to the foregoing recalculation (but not, for the avoidance of doubt, taking into account any repayment of Indebtedness in connection with determining compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for the Fiscal Quarter with respect to which such Cure Right is exercised), the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> would be satisfied, then the requirements of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be deemed satisfied as of the end of the relevant Fiscal Quarter with the same effect as though there had been no failure to comply therewith at such date, and the applicable breach or default of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that had occurred (or would have occurred) shall be deemed cured for the purposes of this Agreement.  Notwithstanding anything herein to the contrary, (I) in each four consecutive Fiscal Quarter period there shall be at least two Fiscal Quarters (which may, but are not required to be, consecutive) in which the Cure Right is not exercised, (II) during the term of this Agreement, the Cure Right shall not be exercised more than five times (provided that, in addition to any remaining Fiscal Quarters as to which a Cure Right may be exercised under the cap set forth in this clause (II), there shall be an additional Cure Right under this clause (II) applicable solely after the Initial Term Loan Maturity Date) , (III) the Cure Amount shall be no greater than the amount required for the purpose of complying with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (IV) upon the Administrative Agent&#8217;s receipt of a written notice from the Borrower that the borrower intends to exercise the Cure Right until the 15th Business Day following the date on which financial statements for the Fiscal Quarter are required to be delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as applicable, neither the Administrative Agent (nor any sub-agent therefor) nor any Lender shall exercise any right to accelerate the Loans, and none of the Administrative Agent (nor any sub-agent therefor) nor any Lender or Secured Party shall exercise any right to foreclose on or take possession of the Collateral or any other right or remedy under the Loan Documents solely on the basis of the relevant Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, (V) there shall be no pro forma reduction of the amount of Indebtedness by the amount of any Cure Amount for purposes of determining compliance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> for the Fiscal Quarter in respect of which the Cure Right was exercised and (VI) for the Fiscal Quarter with respect to which any Cure Amount is included in the calculation of Consolidated Total Assets as of the last day thereof as a result of any exercise of the Cure Right, such increase to Consolidated Total Assets as a result of applying such Cure Amount shall be disregarded for purposes of determining whether any financial ratio or test or Basket set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this Agreement has been satisfied (other than any direct or indirect </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-149-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">condition or requirement under any applicable Basket to be in compliance on a Pro Forma Basis with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">).  </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;In addition to, and without limitation of, the Cure Right set forth in clause (ii) above, any breach of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in respect of a given Fiscal Quarter will be deemed to be cured if the applicable financial statements in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, together with a related Compliance Certificate, for a subsequent Fiscal Quarter demonstrating compliance with the Financial Covenant for such subsequent Fiscal Quarter are delivered to the Administrative Agent, unless as at such date the Required Lenders have declared all Obligations to be immediately due and payable pursuant to Section 7.01 on account of such Event of Default occurring as a result of such breach of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%"><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ARTICLE 7</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">EVENTS OF DEFAULT</font></div><div style="text-align:center"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">Section 7.01. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Events of Default. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> If any of the following events (each, an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Event of Default</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">&#8221;) shall occur&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(a)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Failure To Make Payments When Due</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">.  Failure by the Borrower to pay (i)&#160;any installment of principal of any Loan when due, whether at stated maturity, by acceleration, by notice of voluntary prepayment, by mandatory prepayment or otherwise or (ii) any interest on any Loan or any fee or any other amount due hereunder within five Business Days after the date due&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">(b)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">Default in Other Agreements</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">.  (i) Failure by the Borrower or any of its Restricted Subsidiaries to pay when due any principal of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> above) with an aggregate outstanding principal amount exceeding the Threshold Amount, in each case beyond the grace period, if any, provided therefor&#59; or (ii) breach or default by the Borrower or any of its Restricted Subsidiaries with respect to any other term of (A) one or more items of Indebtedness with an aggregate outstanding principal amount exceeding the Threshold Amount or (B)&#160;any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect to Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms of the relevant Hedge Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary), in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, with the giving of notice if required, such Indebtedness to become or be declared due and payable (or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> that (X) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">clause (ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">paragraph (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt"> shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing such Indebtedness if such sale or transfer is permitted hereunder and (Y) this clause (b) shall not apply to the extent such failure is remedied or waived by the holders of the applicable Indebtedness prior to any acceleration of the Loans pursuant to Article 7&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">, that no such event (other than the failure to make a principal payment at stated final maturity) under any Asset Financing Facility or CRE Financing shall constitute a Default or </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-150-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.40pt">Event of Default under this clause (b) until such Asset Financing Facility or CRE Financing, as applicable, shall have been accelerated as a result of such event&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(c)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Breach of Certain Covenants</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  Failure of any Loan Party, as required by the relevant provision, to perform or comply with any term or condition contained in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;5.01(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;5.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> (as it applies to the preservation of the existence of the Borrower), or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Article 6</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#59; it being understood and agreed that any breach of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> is subject to cure as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 6.13(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, and no Event of Default may arise under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 6.13(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> until the 15th Business Day after the day on which financial statements are required to be delivered for the relevant Fiscal Quarter under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Sections 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, as applicable (so long as the Borrower shall have the right to exercise Cure Rights), and then only to the extent the Cure Amount has not been received on or prior to such date&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(d)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Breach of Representations, Etc</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  Any representation, warranty or certification made or deemed made by any Loan Party in any Loan Document or in any certificate required to be delivered in connection herewith or therewith (including, for the avoidance of doubt, any Perfection Certificate or any Perfection Certificate Supplement) being untrue in any material respect as of the date made or deemed made (it being understood and agreed that any breach of representation, warranty or certification resulting from the failure of the Administrative Agent to file any Uniform Commercial Code continuation statement shall not result in an Event of Default under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 7.01(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> or any other provision of any Loan Document) and, in each case, to the extent capable of being cured, such incorrect representation, warranty, certification or statement of fact shall remain incorrect in such material respect for a period of 30 calendar days after receipt by the Borrower of written notice thereof from the Administrative Agent&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(e)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Other Defaults Under Loan Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  Default by any Loan Party in the performance of or compliance with any term contained herein or any of the other Loan Documents, other than any such term referred to in any other Section of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Article 7</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, which default has not been remedied or waived within 30 calendar days after receipt by the Borrower of written notice thereof from the Administrative Agent&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(f)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Involuntary Bankruptcy&#59; Appointment of Receiver, Etc</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  (i) The entry by a court of competent jurisdiction of a decree or order for relief in respect of the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) in an involuntary case or proceeding under any Debtor Relief Law now or hereafter in effect, which decree or order is not stayed&#59; or any other similar relief shall be granted under any applicable federal, state or local Requirements of Law, which relief is not stayed&#59; or (ii) the commencement of an involuntary case or proceeding against the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) under any Debtor Relief Law&#59; the entry by a court having jurisdiction in the premises of a decree or order for the appointment of a receiver, receiver and manager, (preliminary) insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other officer having similar powers over the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary), or over all or a material part of its property&#59; or the involuntary appointment of an interim receiver, trustee or other custodian of the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) for all or a material part of its property, which remains, in any case or proceeding under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clause (f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, undismissed, unvacated, unbonded or unstayed pending appeal for 60 consecutive days&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(g)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Voluntary Bankruptcy&#59; Appointment of Receiver, Etc</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  (i) The entry against the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of an order for relief, the commencement by the Borrower or any of its Restricted Subsidiaries (other than any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-151-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Immaterial Subsidiary) of a voluntary case or proceeding under any Debtor Relief Law, or the consent by the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) to the entry of an order for relief in an involuntary case or proceeding or to the conversion of an involuntary case or proceeding to a voluntary case or proceeding, under any Debtor Relief Law, or the consent by the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) to the appointment of or taking possession by a receiver, receiver and manager, insolvency receiver, liquidator, sequestrator, trustee, administrator, custodian or other like official for or in respect of itself or for all or a material part of its property&#59; (ii) the making by the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) of a general assignment for the benefit of creditors&#59; or (iii) the admission in writing by any Responsible Officer of the Borrower of the inability of the Borrower or any of its Restricted Subsidiaries (other than any Immaterial Subsidiary) to pay their respective debts as such debts become due&#59; or </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(h)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Judgments and Attachments</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The entry or filing of one or more final money judgments, writs or warrants of attachment or similar process against the Borrower or any of its Restricted Subsidiaries or any of their respective assets involving in the aggregate at any time an amount in excess of the Threshold Amount (in either case to the extent not adequately covered by indemnity from a third party, by self-insurance (if applicable) or by insurance as to which the relevant third party insurance company has been notified and not denied coverage), which judgment, writ, warrant or similar process remains unpaid, undischarged, unvacated, unbonded or unstayed pending appeal for a period of 60 consecutive days&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(i)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Employee Benefit Plans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The occurrence of one or more ERISA Events, which individually or in the aggregate result in liability of the Borrower or any of its Restricted Subsidiaries in an aggregate amount which would reasonably be expected to result in a Material Adverse Effect&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(j)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Change of Control</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  The occurrence of a Change of Control&#59; or</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(k)&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Guaranties, Collateral Documents and Other Loan Documents</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  At any time after the execution and delivery thereof, (i) any material Loan Guaranty for any reason, other than the occurrence of the Termination Date, shall cease to be in full force and effect (other than in accordance with its terms) or shall be declared, by a court of competent jurisdiction, to be null and void or any Guarantor shall repudiate in writing its obligations thereunder (in each case, other than as a result of the discharge of such Guarantor in accordance with the terms thereof and other than as a result of acts or omissions by the Administrative Agent or any Lender), (ii) this Agreement or any material Collateral Document ceases to be in full force and effect or shall be declared, by a court of competent jurisdiction, to be null and void or any Lien on Collateral created (or purported to be created) under any Collateral Document ceases to be valid and perfected with respect to a material portion of the Collateral (other than (I) Collateral consisting of Material Real Estate Assets to the extent that such losses are covered by a lender&#8217;s title insurance policy and such insurer has not denied coverage or (II) solely by reason of (w)&#160;such perfection is not required pursuant to the Collateral and Guarantee Requirement, the Perfection Requirements, the Collateral Documents, this Agreement or otherwise, (x) the failure of the Administrative Agent to maintain possession of any Collateral actually delivered to it or the failure of the Administrative Agent to file Uniform Commercial Code continuation statements, (y) a release of Collateral in accordance with the terms hereof or thereof or (z) the occurrence of the Termination Date or any other termination of such Collateral Document in accordance with the terms thereof) or (iii) other than bona fide, good faith disputes as to the scope of Collateral or whether any Lien has been, or is required to be released, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-152-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any Loan Party shall contest in writing, the validity or enforceability of any material provision of any Loan Document (or any Lien purported to be created by the Collateral Documents or any Loan Guaranty) or deny in writing that it has any further liability (other than by reason of the occurrence of the Termination Date or any other termination of any other Loan Document in accordance with the terms thereof), including with respect to future advances by the Lenders, under any Loan Document to which it is a party&#59; it being understood and agreed that the failure of the Administrative Agent to file any Uniform Commercial Code continuation statement shall not result in an Event of Default under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(k)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or any other provision of any Loan Document&#59; </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">then, and in every such event (other than an event with respect to the Borrower described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this Article), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower, take any of the following actions, at the same or different times&#58; declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that upon the occurrence of an event with respect to the Borrower described in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, any such Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower, in each case without further action of the Administrative Agent or any Lender.  Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent may, and at the request of the Required Lenders shall, exercise any rights and remedies provided to the Administrative Agent under the Loan Documents or at law or equity, including all remedies provided under the UCC.</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%"><br><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ARTICLE 8</font></div><div style="text-align:center"><font><br></font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">THE ADMINISTRATIVE AGENT</font></div><div style="text-align:center"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each of the Lenders hereby irrevocably appoints JPMCB (or any successor appointed pursuant hereto) as Administrative Agent and authorizes the Administrative Agent to take such actions on its behalf (including, without limitation, in any insolvency or liquidation proceeding), including execution of the other Loan Documents, and to exercise such powers as are delegated to the Administrative Agent by the terms of the Loan Documents, together with such actions and powers as are reasonably incidental thereto.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Any Person serving as Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent, and the term &#8220;Lender&#8221; or &#8220;Lenders&#8221; shall, unless otherwise expressly indicated, unless the context otherwise requires or unless such Person is in fact not a Lender, include each Person serving as Administrative Agent hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with any Loan Party or any Subsidiary of any Loan Party or other Affiliate thereof as if it were not the Administrative Agent hereunder.  The Lenders acknowledge that, pursuant to such activities, the Administrative Agent or its Affiliates may receive information regarding any Loan Party or any of its Affiliates (including information that may be subject to confidentiality obligations </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-153-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">in favor of such Loan Party or such Affiliate) and acknowledge that the Administrative Agent shall not be under any obligation to provide such information to them.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Administrative Agent shall not have any duties or obligations except those expressly set forth in the Loan Documents.  Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default or Event of Default exists, and the use of the term &#8220;agent&#8221; herein and in the other Loan Documents with reference to the Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable Requirements of Law&#59; it being understood that such term is used merely as a matter of market custom, and is intended to create or reflect only an administrative relationship between independent contracting parties, (b) the Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary power, except discretionary rights and powers that are expressly contemplated by the Loan Documents and which the Administrative Agent is required to exercise in writing as directed by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the relevant circumstances as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable Requirements of Law, and (c) except as expressly set forth in the Loan Documents, the Administrative Agent shall not have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Restricted Subsidiaries that is communicated to or obtained by the Person serving as Administrative Agent or any of its Affiliates in any capacity.  The Administrative Agent shall not be liable to the Lenders or any other Secured Party for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as is necessary, or as the Administrative Agent believes in good faith shall be necessary, under the relevant circumstances as provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) or in the absence of its own gross negligence or willful misconduct, as determined by the final judgment of a court of competent jurisdiction, in connection with its duties expressly set forth herein.  The Administrative Agent shall not be deemed to have knowledge of any Default or Event of Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or any Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with any Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection with any Loan Document, (iii) the performance or observance of any covenant, agreement or other term or condition set forth in any Loan Document or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of any Loan Document or any other agreement, instrument or document, (v) the creation, perfection or priority of any Lien on the Collateral or the existence, value or sufficiency of the Collateral or to assure that the Liens granted to the Administrative Agent pursuant to any Loan Document have been or will continue to be properly or sufficiently or lawfully created, perfected or enforced or are entitled to any particular priority, (vi) the satisfaction of any condition set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 4</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or elsewhere in any Loan Document, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent or (vii) any property, book or record of any Loan Party or any Affiliate thereof. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding anything to the contrary contained herein or in any of the other Loan Documents, the Borrower, the Administrative Agent and each Secured Party agree that (i) no Secured Party (other than the Administrative Agent) shall have any right individually to realize upon any of the Collateral or to enforce the Loan Guaranty&#59; it being understood that any realization upon the Collateral or enforcement on any Loan Guaranty against the Loan Parties pursuant hereto or pursuant to any Loan Document may be exercised solely by the Administrative Agent on behalf of the Secured Parties in accordance with the terms hereof or thereof, and (ii) in the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-154-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">to a public or private sale or in the event of any other Disposition (including pursuant to Section&#160;363 of the Bankruptcy Code or any similar provision of any other Debtor Relief Law), (A) the Administrative Agent, as agent for and representative of the Secured Parties, shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such sale, to use and apply all or any portion of the Obligations as a credit on account of the purchase price for any Collateral payable by the Administrative Agent at such Disposition and (B)&#160;the Administrative Agent or any Lender may be the purchaser or licensor of all or any portion of such Collateral at any such Disposition.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">No holder of any Secured Hedging Obligation in its capacity as such shall have any rights in connection with the management or release of any Collateral or of the obligations of any Loan Party under this Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each Secured Party agrees that the Administrative Agent may in its sole discretion, but is under no obligation to, credit bid any part of the Secured Obligations or to purchase or retain or acquire any portion of the Collateral.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) that it believes to be genuine and to have been signed, sent or otherwise authenticated by the proper Person.  The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person and shall not incur any liability for relying thereon.  In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent has received notice to the contrary from such Lender prior to the making of such Loan.  The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Administrative Agent may perform any and all of its duties and exercise its rights and powers by or through any one or more sub-agents appointed by it.  The Administrative Agent and any such sub-agent may perform any and all of their respective duties and exercise their respective rights and powers through their respective Related Parties.  The exculpatory provisions of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as the Administrative Agent.  The Secured Parties agree that the Administrative Agent shall not be responsible to the Secured Parties for the negligence or misconduct of any sub-agent except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such Administrative Agent acted with gross negligence or willful misconduct in the selection of such sub-agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">The Administrative Agent may resign at any time by giving ten days&#8217; written notice to the Lenders and the Borrower&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that if no successor agent is appointed in accordance with the terms set forth below within such 10-day period, the Administrative Agent&#8217;s resignation shall not be effective until the earlier to occur of (x) the date of the appointment of the successor agent or (y) the date that is twenty (20) days after the last day of such 10-day period.  If the Administrative Agent is a Defaulting Lender under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the definition thereof, either the Required Lenders or the Borrower may, upon ten days&#8217; notice, remove the Administrative Agent&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that if no successor agent is appointed in accordance with the terms set forth below within such 10-day period, the Administrative Agent&#8217;s removal shall, at the option of the Borrower, not be effective until the earlier to occur of (x) the date of the appointment of the successor </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-155-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">agent or (y) the date that is twenty (20) days after the last day of such 10-day period.  Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower (not to be unreasonably withheld or delayed), to appoint a successor Administrative Agent which shall be a commercial bank or trust company with offices in the U.S. having combined capital and surplus in excess of $1,000,000,000, and which, for the avoidance of doubt, shall be a &#8220;U.S. person&#8221; and a &#8220;financial institution&#8221; within the meaning of Treasury Regulations Section 1.1441-1&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that during the existence of an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or, with respect to any Borrower, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;7.01(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, no consent of the Borrower shall be required.  If no successor has been appointed as provided above and accepted such appointment within ten days after the retiring Administrative Agent gives notice of its resignation or the Administrative Agent receives notice of removal, then (a)&#160;in the case of a retirement, the retiring Administrative Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above (including, for the avoidance of doubt, the consent of the Borrower) or (b) in the case of a removal, the Borrower may, after consulting with the Required Lenders, appoint a successor Administrative Agent meeting the qualifications set forth above&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (x)&#160;in the case of a retirement, if the Administrative Agent notifies the Borrower, the Lenders that no qualifying Person has accepted such appointment or (y) in the case of a removal, the Borrower notifies the Required Lenders that no qualifying Person has accepted such appointment, then, in each case, such resignation or removal shall nonetheless become effective in accordance with the provisos to the first two sentences in this paragraph and (i) the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent in its capacity as collateral agent for the Secured Parties for purposes of maintaining the perfection of the Lien on the Collateral securing the Secured Obligations, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (ii) all payments, communications and determinations required to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly (and each Lender will cooperate with the Borrower to enable the Borrower to take such actions), until such time as the Required Lenders or the Borrower, as applicable, appoint a successor Administrative Agent, as provided above in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Upon the acceptance of its appointment as Administrative Agent hereunder as a successor Administrative Agent, the successor Administrative Agent shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent (other than any rights to indemnity payments owed to the retiring Administrative Agent), and the retiring or removed Administrative Agent shall be discharged from its duties and obligations hereunder (other than its obligations under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> hereof).  The fees payable by the Borrower to any successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor Administrative Agent.  After the Administrative Agent&#8217;s resignation or removal hereunder, the provisions of this Article and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub-agents and their respective Related Parties in respect of any action taken or omitted to be taken by any of them while the relevant Person was acting as Administrative Agent (including for this purpose holding any collateral security following the retirement or removal of the Administrative Agent).  Notwithstanding anything to the contrary herein, no Disqualified Institution may be appointed as a successor Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their respective Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or related agreement or any </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-156-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">document furnished hereunder or thereunder.  Each Lender acknowledges that neither the Administrative Agent nor any Affiliate thereof has made any representation or warranty to it.  Except for notices, reports and other documents expressly required to be furnished to the Lenders by the Administrative Agent herein, the Administrative Agent shall not have any duty or responsibility to provide any Lender with any credit or other information concerning the business, prospects, operations, property, financial and other condition or creditworthiness of any of the Loan Parties or any of their respective Affiliates which may come into the possession of the Administrative Agent or any of its Related Parties.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Each Lender, by delivering its signature page to this Agreement or an Assignment and Assumption and funding its Loan or assignment, shall be deemed to have acknowledged receipt of, and consented to and approved, each Loan Document and each other document required to be approved by the Administrative Agent, the Required Lenders or the Lenders, as applicable, on the Closing Date or, in the case of a Lender that becomes party hereto by Assignment and Assumption, thereafter and prior to the effectiveness of such Assignment and Assumption.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Notwithstanding anything to the contrary herein, the Arrangers, the First Amendment Arrangers (as defined in the First Amendment), the Second Amendment Arrangers (as defined in the Second Amendment), the Third Amendment Arranger, the Fourth Amendment Arrangers, the Fifth Amendment Arrangers, the Sixth Amendment Arrangers, the Seventh Amendment Arrangers, the Tenth Amendment Arrangers, the Eleventh Amendment Arrangers</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">, the Twelfth Amendment Arrangers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> and their respective Affiliates shall not have any right, power, obligation, liability, responsibility or duty under this Agreement, except in their respective capacities as the Administrative Agent or a Lender hereunder, as applicable.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Each Secured Party hereby further authorizes the Administrative Agent, on behalf of and for the benefit of the Secured Parties, to be the agent for and representative of the Secured Parties with respect to the Loan Guaranty, the Collateral and the Loan Documents&#59; provided that the Administrative Agent shall not owe any fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation whatsoever to any holder of Secured Obligations with respect to any Secured Hedging Obligations.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">The Secured Parties agree that the Administrative Agent shall not be responsible for or have a duty to the Secured Parties to ascertain or inquire into any representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection (or continued perfection) of the Administrative Agent&#8217;s Lien thereon, or any certificate prepared by any Loan Party in connection therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral.</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Each Secured Party irrevocably authorizes the Administrative Agent to&#58;</font></div><div><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(a)&#160;&#160;&#160;&#160;release any Lien on any property granted to or held by Administrative Agent under any Loan Document (i) upon the occurrence of the Termination Date, (ii) that is sold or transferred as part of or in connection with any sale, transfer or other disposition permitted under the Loan Documents to a Person that is not a Loan Party, (iii) that does not constitute (or ceases to constitute) Collateral, (iv) if the property subject to such Lien is owned by a Subsidiary Guarantor, upon the release of such Subsidiary Guarantor from its Loan Guaranty otherwise in accordance with the Loan Documents, (v) as required under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">clause (d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> below or (vi) if approved, authorized or ratified in writing by the Required Lenders in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section&#160;9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">&#59;</font></div><div style="margin-bottom:6pt;padding-left:18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(b)&#160;&#160;&#160;&#160;subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.21</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">, release any Subsidiary Guarantor from its obligations under the Loan Guaranty if such Person ceases to be a Restricted Subsidiary (or becomes an Excluded Subsidiary as a result of a single transaction or series of related transactions permitted hereunder and the Borrower has requested such Excluded Subsidiary cease to be a Subsidiary Guarantor)&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-157-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160;subordinate any Lien on any property granted to or held by the Administrative Agent under any Loan Document to the holder of any Lien on such property that is permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;6.02(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(g)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(l)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(n)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(o)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (other than any Lien on the Capital Stock of any Subsidiary Guarantor), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(q)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(r)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (to the extent the relevant Lien is of the type to which the Lien of the Administrative Agent is otherwise required to be subordinated under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> pursuant to any of the other exceptions to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that are expressly included in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">), </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(x)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(y)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(z)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(bb)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(cc)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(ee)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(ff)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(gg)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (and any Refinancing Indebtedness in respect of any thereof to the extent such Refinancing Indebtedness is permitted to be secured under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;6.02(k))</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that the subordination of any Lien on any property granted to or held by the Administrative Agent shall only be required with respect to any Lien on such property that is permitted by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 6.02(l)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(o)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(q)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(r)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.02(bb)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> to the extent that the Lien of the Administrative Agent with respect to such property is required to be subordinated to the relevant Permitted Lien in accordance with the documentation governing the Indebtedness that is secured by such Permitted Lien&#59; and</font></div><div style="margin-bottom:6pt;padding-left:18pt"><font><br></font></div><div style="margin-bottom:6pt;padding-left:18pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d)&#160;&#160;&#160;&#160;enter into subordination, intercreditor and&#47;or similar agreements with respect to Indebtedness (including any Acceptable Intercreditor Agreement and&#47;or any amendment to any of the foregoing in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) that is (i) required or permitted to be subordinated hereunder and&#47;or (ii) secured by Liens, and with respect to which Indebtedness, this Agreement contemplates an intercreditor, subordination, collateral trust agreement or similar agreement.</font></div><div style="margin-bottom:6pt;padding-left:18pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Upon the request of the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent&#8217;s authority to release or subordinate its interest in particular types or items of property, or to release any Loan Party from its obligations under the Loan Guaranty or its Lien on any Collateral pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  In each case as specified in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Administrative Agent will (and each Lender hereby authorizes the Administrative Agent to), at the Borrower&#8217;s expense, execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such item of Collateral from the assignment and security interest granted under the Collateral Documents, to subordinate its interest therein, or to release such Loan Party from its obligations under the Loan Guaranty, in each case in accordance with the terms of the Loan Documents and this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that upon the request of the Administrative Agent, the Borrower shall deliver a certificate of a Financial Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement.  Any execution and delivery of documents pursuant to this paragraph shall be without recourse to or warranty by the Administrative Agent.</font></div><div><font><br></font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">The Administrative Agent is authorized to enter into an Acceptable Intercreditor Agreement and any other intercreditor, subordination, collateral trust or similar agreement contemplated hereby, in each case, on terms reasonably satisfactory to the Administrative Agent, with respect to any (a)&#160;Indebtedness permitted hereby (i)&#160;that is (A) required or permitted to be subordinated hereunder and&#47;or (B) secured by Liens permitted hereby and (ii) which contemplates an intercreditor, subordination or collateral trust agreement and&#47;or (b) Secured Hedging Obligations, whether or not constituting Indebtedness (any such other intercreditor agreement an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Additional Agreement</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;), and the Secured Parties party hereto acknowledge that the Intercreditor Agreement and any Additional Agreement is binding upon them.  Each Secured Party party hereto hereby (a) agrees that it will be bound by, and will not take any action contrary to, the provisions of any Additional Agreement and (b) authorizes the Administrative Agent to enter into an Acceptable Intercreditor Agreement and&#47;or any Additional Agreement and to subject the Liens on the Collateral securing the Secured Obligations to the provisions thereof.  The foregoing provisions are </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-158-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">intended as an inducement to the Secured Parties to extend credit to the Borrower, and the Secured Parties are intended third-party beneficiaries of such provisions and the provisions of an Acceptable Intercreditor Agreement and&#47;or any Additional Agreement.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">To the extent that the Administrative Agent (or any Affiliate thereof) is not reimbursed and indemnified by the Borrower in accordance with and to the extent required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;9.03(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> hereof, the Lenders will reimburse and indemnify the Administrative Agent (and any Affiliate thereof) in proportion to their respective Applicable Percentages (determined as if there were no Defaulting Lenders and all Term Loans were of a single Class) for and against any and all liabilities, obligations, losses, damages, penalties, claims, actions, judgments, costs, expenses or disbursements of whatsoever kind or nature which may be imposed on, asserted against or incurred by the Administrative Agent (or any Affiliate thereof) in performing its duties hereunder or under any other Loan Document or in any way relating to or arising out of this Agreement or any other Loan Document (in all cases, whether or not caused or arising, in whole or in part, out of the comparative, contributory or sole negligence of the Administrative Agent or any Affiliate thereof)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that no Lender shall be liable for any portion of such liabilities, obligations, losses, damages, penalties, claims, actions, judgments, suits, costs, expenses or disbursements resulting from the Administrative Agent&#8217;s (or such affiliate&#8217;s) gross negligence or willful misconduct (as determined by a court of competent jurisdiction in a final and non-appealable decision).  The agreements in this paragraph shall survive the payment of the Loans and all other amounts payable hereunder.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">To the extent required by any applicable Requirements of Law (as determined in good faith by the Administrative Agent), the Administrative Agent may withhold from any payment to any Lender under any Loan Document an amount equivalent to any applicable withholding Tax.  Without limiting or expanding the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, each Lender shall indemnify and hold harmless the Administrative Agent against, and shall make payable in respect thereof within 10 days after demand therefor, all Taxes and all related losses, claims, liabilities and expenses (including fees, charges and disbursements of any counsel for the Administrative Agent) incurred by or asserted against the Administrative Agent by the IRS or any other Governmental Authority</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:13.20pt"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">as a result of the failure of the Administrative Agent to properly withhold Tax from amounts paid to or for the account of such Lender for any reason (including because the appropriate form was not delivered or not properly executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of, withholding Tax ineffective), whether or not such Taxes were correctly or legally imposed or asserted.  A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error.  Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against any amount due the Administrative Agent under this paragraph.  The agreements in this paragraph shall survive the resignation or replacement of the Administrative Agent or any assignment of rights by, or the replacement of, any Lender, the termination of the Commitments and the repayment, satisfaction or discharge of all obligations under any Loan Document. </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that at least one of the following is and will be true&#58;</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-159-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(i) such Lender is not using &#8220;plan assets&#8221; (within the meaning of Section 3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such Lender&#8217;s entrance into, participation in, administration of and performance of the Loans, the Commitments or this Agreement,</font></div><div style="padding-left:36pt"><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house asset managers), is applicable with respect to such Lender&#8217;s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement,</font></div><div style="padding-left:36pt"><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii) (A) such Lender is an investment fund managed by a &#8220;Qualified Professional Asset Manager&#8221; (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender&#8217;s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement, or</font></div><div style="padding-left:36pt"><font><br></font></div><div style="padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv) such other representation, warranty and covenant as may be agreed in writing between the Administrative Agent, in its sole discretion, and such Lender.</font></div><div style="padding-left:36pt"><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">In addition, unless either (1) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">sub-clause (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in the immediately preceding </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">sub-clause (iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in the immediately preceding </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and not, for the avoidance of doubt, to or for the benefit of the Borrower or any other Loan Party, that the Administrative Agent is not a fiduciary with respect to the assets of such Lender involved in such Lender&#8217;s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto).</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center;text-indent:13.49pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:700;line-height:120%"><br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ARTICLE 9</font></div><div style="padding-left:3pt;padding-right:3pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"><br>MISCELLANEOUS</font></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 9.01. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Notices.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by facsimile or email, as follows&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-160-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(i)&#160;&#160;&#160;&#160; if to any Loan Party, to such Loan Party in the care of the Borrower at&#58;</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Blackstone Mortgage Trust, Inc.</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">345 Park Avenue</font></div><div style="padding-left:108pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">New York, New York 10154<br>Attention&#58; </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through">Douglas Armer</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Chief Financial Officer</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Email&#58; BXMTTermLoanB&#64;blackstone.com</font></div><div style="padding-left:72pt;text-indent:36pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">with copies to (which shall not constitute notice to any Loan Party)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Ropes &#38; Gray LLP<br>1211 Avenue of the Americas<br>New York, New York 10036<br>Attention&#58;  Arkadiusz (Arek) M. Maczka<br>Email&#58;  </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">&#91;redacted&#93;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"><br>Telephone&#58;  &#91;redacted&#93;</font></div><div style="margin-bottom:12pt;padding-left:108pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">and</font></div><div style="margin-bottom:12pt;padding-left:108pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Ropes &#38; Gray LLP<br>1211 Avenue of the Americas<br>New York, New York 10036<br>Attention&#58;  Daniel Stanco<br>Email&#58;  &#91;redacted&#93;<br>Telephone&#58;  &#91;redacted&#93;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) &#160;&#160;&#160;&#160;if to the Administrative Agent, at&#58;</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">JPMorgan Chase Bank, N.A.</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Administrative Agent </font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">500 Stanton Christiana Road</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">NCC 5, Floor 1</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Newark, DE 19713-2107</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Attention&#58;  Matthew Bruno</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Telephone&#58;   &#91;redacted&#93;</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Facsimile&#58;  &#91;redacted&#93;</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Email&#58;  &#91;redacted&#93;</font></div><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">with a copy to</font></div><div style="padding-left:72pt"><font><br></font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">JPMorgan Chase Bank, N.A.</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">as Administrative Agent </font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">500 Stanton Christiana Road</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">NCC 5, Floor 1</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Newark, DE 19713-2107</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Attention&#58;  Mitchell Soobryan</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Telephone&#58;   &#91;redacted&#93;</font></div><div style="padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Email&#58;  &#91;redacted&#93;</font></div><div style="padding-left:72pt;text-indent:36pt"><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-161-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:18pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii) &#160;&#160;&#160;&#160;if to any Lender, to it at its address or facsimile number set forth in its Administrative Questionnaire.</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">All such notices and other communications (A) sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when delivered in person or by courier service and signed for against receipt thereof or three Business Days after dispatch if sent by certified or registered mail, in each case, delivered, sent or mailed (properly addressed) to the relevant party as provided in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or in accordance with the latest unrevoked direction from such party given in accordance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or (B) sent by facsimile shall be deemed to have been given when sent and when receipt has been confirmed by telephone&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, such notices or other communications shall be deemed to have been given at the opening of business on the next Business Day for the recipient).  Notices and other communications delivered through electronic communications to the extent provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below shall be effective as provided in such </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">. </font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;Notices and other communications to the Lenders hereunder may be delivered or furnished by electronic communications (including e-mail and Internet or intranet websites) pursuant to procedures set forth herein or otherwise approved by the Administrative Agent.  The Administrative Agent or the Borrower (on behalf of any Loan Party) may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures set forth herein or otherwise approved by it (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that approval of such procedures may be limited to particular notices or communications).  All such notices and other communications (i) sent to an e-mail address shall be deemed received upon the sender&#8217;s receipt of an acknowledgement from the intended recipient (such as by the &#8220;return receipt requested&#8221; function, as available, return e-mail or other written acknowledgement)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that any such notice or communication not given during the normal business hours of the recipient shall be deemed to have been given at the opening of business on the next Business Day for the recipient and (ii) posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as described in the foregoing </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(b)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of notification that such notice or communication is available and identifying the website address therefor.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;Any party hereto may change its address or facsimile number or other notice information hereunder by notice to the other parties hereto&#59; it being understood and agreed that the Borrower may provide any such notice to the Administrative Agent as recipient on behalf of itself and each Lender.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(d) &#160;&#160;&#160;&#160;The Borrower hereby acknowledges that (a) the Administrative Agent will make available to the Lenders materials and&#47;or information provided by, or on behalf of, the Borrower hereunder (collectively, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Borrower Materials</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) by posting the Borrower Materials on the Platform and (b) certain of the Lenders may be &#8220;public-side&#8221; Lenders (i.e., Lenders that do not wish to receive material nonpublic information within the meaning of the United States federal securities laws with respect to the Borrower, any of its subsidiaries, or their respective securities) (each, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Public Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;).  At the request of the Arrangers, the First Amendment Arrangers (as defined in the First Amendment), the Second Amendment Arrangers (as defined in the Second Amendment), the Third Amendment Arranger, the Fourth Amendment Arrangers, the Fifth Amendment Arrangers, the Sixth Amendment Arrangers, the Seventh Amendment Arrangers, the Tenth Amendment Arrangers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:line-through"> or</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  the Eleventh Amendment Arrangers</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline"> or the Twelfth Amendment Arrangers</font><font style="color:#243f60;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">the Borrower hereby agrees that (i) all Borrower Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked &#8220;PUBLIC,&#8221; (ii) by marking Borrower Materials &#8220;PUBLIC,&#8221; the Borrower shall be deemed to have authorized the Administrative Agent </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-162-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and the Lenders to treat such Borrower Materials as information of a type that would (x) customarily be made publicly available (or could be derived from publicly available information), as determined in good faith by the Borrower, or (y) would not be material with respect to the Borrower, its subsidiaries, any of their respective securities or the Transactions as determined in good faith by the Borrower for purposes of United States federal securities laws and (iii) the Administrative Agent shall be entitled to treat any Borrower Materials that are not marked &#8220;PUBLIC&#8221; as being suitable only for posting on a portion of the Platform not marked as &#8220;Public Investor</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; Notwithstanding the foregoing, the following Borrower Materials shall be deemed to be marked &#8220;PUBLIC,&#8221; unless the Borrower notifies the Administrative Agent promptly that any such document contains material nonpublic information&#58; (1) the Loan Documents, (2) any notification of changes in the terms of the Term Facility and (3) all information delivered pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 5.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  </font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times have selected the &#8220;Private Side Information&#8221; or similar designation on the content declaration screen of the Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender&#8217;s compliance procedures and applicable law, including United States Federal and state securities laws, to make reference to communications that are not made available through the &#8220;Public Side Information&#8221; portion of the Platform and that may contain material non-public information with respect to the Borrower or its securities for purposes of United States Federal or state securities laws.</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">THE PLATFORM IS PROVIDED &#8220;AS IS&#8221; AND &#8220;AS AVAILABLE</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.00pt">.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">&#8221; NEITHER THE ADMINISTRATIVE AGENT NOR ANY OF ITS RELATED PARTIES WARRANTS THE ACCURACY OR COMPLETENESS OF THE COMMUNICATIONS OR THE ADEQUACY OF THE PLATFORM AND EACH EXPRESSLY DISCLAIMS LIABILITY FOR ERRORS OR OMISSIONS IN THE COMMUNICATIONS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS IS MADE BY THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES IN CONNECTION WITH THE COMMUNICATIONS OR THE PLATFORM. IN NO EVENT SHALL THE ADMINISTRATIVE AGENT OR ANY OF ITS RELATED PARTIES HAVE ANY LIABILITY TO ANY LOAN PARTY, ANY LENDER OR ANY OTHER PERSON FOR DAMAGES OF ANY KIND, WHETHER OR NOT BASED ON STRICT LIABILITY AND INCLUDING DIRECT OR INDIRECT, SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOSSES OR EXPENSES (WHETHER IN TORT, CONTRACT OR OTHERWISE) ARISING OUT OF ANY LOAN PARTY&#8217;S OR THE ADMINISTRATIVE AGENT&#8217;S TRANSMISSION OF COMMUNICATIONS THROUGH THE INTERNET, EXCEPT TO THE EXTENT THE LIABILITY OF ANY SUCH PERSON IS FOUND IN A FINAL RULING BY A COURT OF COMPETENT JURISDICTION TO HAVE RESULTED FROM SUCH PERSON&#8217;S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 9.02. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Waivers&#59; Amendments.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(a) &#160;&#160;&#160;&#160;No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder or under any other Loan Document shall operate as a waiver thereof except as provided herein or in any Loan Document, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power.  The rights and remedies of the Administrative Agent and the Lenders hereunder and under any other Loan Document are cumulative and are not exclusive of any rights or remedies that they would otherwise have.  No waiver of any provision of any Loan Document or consent to any departure by any party hereto therefrom shall in any event be effective unless the same is permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, and then such waiver or consent shall be effective only in the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-163-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">specific instance and for the purpose for which given.  Without limiting the generality of the foregoing, to the extent permitted by applicable Requirements of Law, the making of any Loan shall not be construed as a waiver of any Default or Event of Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default or Event of Default at the time.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(b) &#160;&#160;&#160;&#160;Subject to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(d)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> below and to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.14(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, neither this Agreement nor any other Loan Document nor any provision hereof or thereof may be waived, amended or modified, except (i) in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders (or the Administrative Agent with the consent of the Required Lenders) or (ii) in the case of any other Loan Document (other than any waiver, amendment or modification to effectuate any modification thereto expressly contemplated by the terms of such other Loan Document), pursuant to an agreement or agreements in writing entered into by the Administrative Agent and each Loan Party that is party thereto, with the consent of the Required Lenders&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(A) &#160;&#160;&#160;&#160;the consent of each Lender directly and adversely affected thereby (but, except in the case of subclause (1), not the consent of the Required Lenders) shall be required for any waiver, amendment or modification that&#58;</font></div><div style="margin-bottom:12pt;padding-left:63pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;increases the Commitment of such Lender (other than with respect to any Incremental Facility pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> in respect of which such Lender has agreed to be an Additional Lender)&#59; it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of the Commitments shall constitute an increase of any Commitment of such Lender&#59;</font></div><div style="margin-bottom:12pt;padding-left:63pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(2) &#160;&#160;&#160;&#160;reduces the principal amount of any Loan owed to such Lender or any amount due to such Lender on any Loan Installment Date&#59;</font></div><div style="margin-bottom:12pt;padding-left:67.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(3)&#160;&#160;&#160;&#160; (x) extends the scheduled final maturity of any Loan or (y)&#160;postpones any Loan Installment Date or any Interest Payment Date with respect to any Loan held by such Lender or the date of any scheduled payment of any fee or premium payable to such Lender hereunder (in each case, other than any extension for administrative reasons agreed by the Administrative Agent)&#59;</font></div><div style="margin-bottom:12pt;padding-left:67.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(4)&#160;&#160;&#160;&#160; reduces the rate of interest (other than to waive any Default or Event of Default or obligation of the Borrower to pay interest to such Lender at the default rate of interest under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.13(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, which shall only require the consent of the Required Lenders) or the amount of any fee or premium owed to such Lender&#59; it being understood that no change in the calculation of any other interest, fee or premium due hereunder (including any component definition thereof) shall constitute a reduction in any rate of interest or fee hereunder&#59;</font></div><div style="margin-bottom:12pt;padding-left:67.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(5) &#160;&#160;&#160;&#160;extends the expiry date of such Lender&#8217;s Commitment&#59; it being understood that no amendment, modification or waiver of, or consent to departure from, any condition precedent, representation, warranty, covenant, Default, Event of Default, mandatory prepayment or mandatory reduction of any Commitment shall constitute an extension of any Commitment of any Lender&#59; and</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-164-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:67.5pt;text-indent:31.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(6) &#160;&#160;&#160;&#160;waives, amends or modifies the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.18(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this Agreement in a manner that would by its terms alter the &#8220;waterfall&#8221; in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.18(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or pro rata sharing of payments required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (except in connection with any transaction permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and&#47;or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or as otherwise provided in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">)&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(B) &#160;&#160;&#160;&#160;no such agreement shall&#58;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;change any of the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or the definition of &#8220;Required Lenders&#8221; to reduce any voting percentage required to waive, amend or modify any right thereunder or make any determination or grant any consent thereunder, without the prior written consent of each Lender&#59;</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(2) &#160;&#160;&#160;&#160;release all or substantially all of the Collateral from the Lien granted pursuant to the Loan Documents (except as otherwise permitted herein or in the other Loan Documents, including pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article&#160;8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.21</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> hereof), without the prior written consent of each Lender&#59; or</font></div><div style="margin-bottom:12pt;padding-left:108pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(3) &#160;&#160;&#160;&#160;release all or substantially all of the value of the Guarantees under the Loan Guaranty (except as otherwise permitted herein or in the other Loan Documents, including pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.21</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> hereof), without the prior written consent of each Lender&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(C)&#160;&#160;&#160;&#160; no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative Agent.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c)&#160;&#160;&#160;&#160; Notwithstanding the foregoing, this Agreement may be amended with the written consent of the Borrower and the Lenders providing the relevant Replacement Term Loans to permit the refinancing or replacement of all or any portion of the outstanding Term Loans under the applicable Class (any such loans being refinanced or replaced, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Replaced Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) with one or more replacement term loans hereunder (&#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Replacement Term Loans</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) pursuant to a Refinancing Amendment&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(A)&#160;&#160;&#160;&#160;the aggregate principal amount of any Replacement Term Loans shall not exceed the aggregate principal amount of the Replaced Term Loans (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (1) any additional amounts permitted to be incurred under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and, to the extent any such additional amounts are secured, the related Liens are permitted under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 6.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (2) the amount of accrued interest, penalties and premium (including tender premium) thereon any committed but undrawn amounts and underwriting discounts, fees (including upfront fees, original issue discount or initial yield payments), commissions and expenses associated therewith),</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(B)&#160;&#160;&#160;&#160;subject to the Permitted Earlier Maturity Indebtedness Exception, any Replacement Term Loans (other than customary bridge loans with a maturity date of not longer than one year&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that any loans, notes, securities or other Indebtedness which are exchanged for or otherwise replace such bridge loans shall be subject to the requirements of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) must have a final maturity date that is equal to or later than the final maturity date of, and have a Weighted Average Life to Maturity equal to or greater </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-165-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">than the Weighted Average Life to Maturity of, the Replaced Term Loans at the time of the relevant refinancing,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(C)&#160;&#160;&#160;&#160;any Replacement Term Loans may be </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.80pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> with or junior to any then-existing Term Loans in right of payment and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:12.80pt">pari passu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> with or junior to such Term Loans with respect to the Collateral (</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> that any Replacement Term Loans not incurred under this Agreement that are secured by Liens on the Collateral shall be subject to any applicable Acceptable Intercreditor Agreements),</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(D)&#160;&#160;&#160;&#160;any Replacement Term Loans that are secured may not be secured by any assets other than the Collateral,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(E)&#160;&#160;&#160;&#160;any Replacement Term Loans that are guaranteed may not be guaranteed by any Person other than one or more Guarantors,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(F)&#160;&#160;&#160;&#160;any Replacement Term Loans that are pari passu with the 2019 New Term Loans, the Term B-3 Loans and&#47;or the Term B-4 Loans in right of payment and security may participate (A) in any voluntary prepayments of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 2.11(a)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> and (B) in any mandatory prepayments of Term Loans as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 2.11(b)(vi)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(G)&#160;&#160;&#160;&#160;any Replacement Term Loans may have pricing (including interest, fees and premiums) and, subject to preceding </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clause (F)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, optional prepayment and redemption terms and, subject to preceding </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">clause (B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, amortization schedule, as the Borrower and the lenders providing such Replacement Term Loans may agree,</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(H)&#160;&#160;&#160;&#160;other terms and conditions of any Replacement Term Loans (excluding as set forth above, including pricing, interest rate margins, fees, discounts, rate floors and optional prepayment or redemption terms), if not substantially identical to those applicable to Replaced Term Loans (as reasonably determined by the Borrower and the Administrative Agent), must either, at the option of the Borrower, (x) not be materially more restrictive to the Borrower and its Restricted Subsidiaries (as determined by the Borrower in good faith) than (when taken as a whole) those contained in the Replaced Term Loans (other than any terms which are applicable only after the then-existing Latest Maturity Date with respect to such Replaced Term Loans), (y) be conformed (or added) to the Loan Documents for the benefit of the existing Term Lenders or, as applicable, the Administrative Agent (i.e., by conforming or adding a term to the then-outstanding Term Loans pursuant to the applicable Incremental Facility Amendment, it being understood that, without limitation, any amendment or modification to the Loan Documents that solely adds one or more terms for the benefit of the existing Term Lenders shall not require the consent of any such existing Term Lender so long as the form (but not the substance) of the applicable agreement effecting such amendment or modification is reasonably satisfactory to the Administrative Agent) or (z) reflect then current market terms and conditions (taken as a whole) at the time of incurrence or issuance (as determined by the Borrower in good faith), and</font></div><div style="margin-bottom:12pt;margin-top:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">(I)&#160;&#160;&#160;&#160;no Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.80pt"> shall exist immediately prior to or after giving effect to such Replacement Term Loans&#59;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that, in respect of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, any Affiliated Lender and Debt Fund Affiliate shall be permitted without the consent of the Administrative Agent to provide any Replacement Term Loans, it </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-166-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">being understood that in connection therewith, the relevant Affiliated Lender or Debt Fund Affiliate, as applicable, shall be subject to the restrictions applicable to such Person under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as if such Replacement Term Loans were Term Loans.</font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Each party hereto hereby agrees that this Agreement may be amended by the Borrower, the Administrative Agent and the lenders providing the relevant Replacement Term Loans to the extent (but only to the extent) necessary to reflect the existence and terms of such Replacement Term Loans incurred or implemented pursuant thereto (including any amendment necessary to treat the loans and commitments subject thereto as a separate &#8220;tranche&#8221; and &#8220;Class&#8221; of Loans and&#47;or Commitments hereunder).  It is understood that any Lender approached to provide all or a portion of any Replacement Term Loans may elect or decline, in its sole discretion, to provide such Replacement Term Loans.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(d) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary contained in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;9.02</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> or any other provision of this Agreement or any provision of any other Loan Document&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(i) &#160;&#160;&#160;&#160;the Borrower and the Administrative Agent may, without the input or consent of any Lender, amend, supplement and&#47;or waive any&#160;guaranty, collateral security agreement, pledge agreement and&#47;or related document (if any) executed in connection with this Agreement to (A) comply with any Requirement of Law or the advice of counsel, (B) cause any such guaranty, collateral security agreement, pledge agreement or other document to be consistent with this Agreement and&#47;or the relevant other Loan Documents or (C) add a benefit for solely the Lenders under the existing Term Facility, including, but not limited to, increase in margin, interest rate floor, prepayment premium, call protection and reestablishment of or increase in amortization schedule&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> that no such amendment, modification or waiver that increases or accelerates the amortization schedule shall operate to cause the amounts subject to such increased or accelerated amortization schedule to not be subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section 2.12(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">,</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) &#160;&#160;&#160;&#160;the Borrower and the Administrative Agent may, without the input or consent of any other Lender (other than the relevant Lenders (including Additional Lenders) providing Loans under such Sections), effect amendments to this Agreement and the other Loan Documents as may be necessary in the reasonable opinion of the Borrower and the Administrative Agent to (1) effect the provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">5.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">6.12</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, or any other provision specifying that any waiver, amendment or modification may be made with the consent or approval of the Administrative Agent and&#47;or (2) to add terms (including representations and warranties, conditions, prepayments, covenants or events of default), in connection with the addition of any Additional Term Loan or Additional Commitment hereunder pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, that are favorable to the then-existing Lenders, as reasonably determined by the Administrative Agent,</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii)&#160;&#160;&#160;&#160; if the Administrative Agent and the Borrower have jointly identified any ambiguity, mistake, defect, inconsistency, obvious error or any error or omission of a technical nature or any necessary or desirable technical change, in each case, in any provision of any Loan Document, then the Administrative Agent and the Borrower shall be permitted to amend such provision (without any further action or consent of any other party) solely to address such matter as reasonably determined by them acting jointly,</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv)&#160;&#160;&#160;&#160; the Administrative Agent and the Borrower may amend, restate, amend and restate or otherwise modify any Acceptable Intercreditor Agreement as provided therein,</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v) &#160;&#160;&#160;&#160;the Administrative Agent may amend the Commitment Schedule to reflect assignments entered into pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, Commitment terminations pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, implementations </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-167-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">of Additional Commitments or incurrences of Additional Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and reductions or terminations of any such Additional Commitments or Additional Term Loans,</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(vi) &#160;&#160;&#160;&#160;no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except as permitted pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section&#160;2.21(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> and except that the Commitment and any Additional Commitment of any Defaulting Lender may not be increased without the consent of such Defaulting Lender (it being understood that any Commitment or Loan held or deemed held by any Defaulting Lender shall be excluded from any vote hereunder that requires the consent of any Lender, except as expressly provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 2.21(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">),</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(vii) &#160;&#160;&#160;&#160;this Agreement may be amended (or amended and restated) with the written consent of the Required Lenders, the Administrative Agent and the Borrower (i) to add one or more additional credit facilities to this Agreement and to permit any extension of credit from time to time outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the relevant benefits of this Agreement and the other Loan Documents and (ii) to include appropriately the Lenders holding such credit facilities in any determination of the Required Lenders on substantially the same basis as the Lenders prior to such inclusion, and</font></div><div style="margin-bottom:12pt;text-indent:54pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(viii) &#160;&#160;&#160;&#160;any amendment, wavier or modification of any term or provision that directly affects Lenders under one or more Classes and does not directly affect Lenders under one or more other Classes may be effected by the consent of Lenders representing more than 50% of the aggregate Commitments and&#47;or Loans of such directly affected Class in lieu of the consent of the Required Lenders.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">Section 9.03. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Expenses&#59; Indemnity.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">(a) &#160;&#160;&#160;&#160;Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, the Borrower shall pay (i) all reasonable and documented out-of-pocket expenses incurred by each Arranger, the Administrative Agent and their respective Affiliates (but limited, in the case of legal fees and expenses, to the actual reasonable and documented out-of-pocket fees, disbursements and other charges of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole) in connection with the syndication and distribution (including via the Internet or through a service such as IntraLinks) of the Term Facility, the preparation, execution, delivery and administration of the Loan Documents and any related documentation, including in connection with any amendment, modification or waiver of any provision of any Loan Document (whether or not the transactions contemplated thereby are consummated, but only to the extent the preparation of any such amendment, modification or waiver was requested by the Borrower and except as otherwise provided in a separate writing between the Borrower, the relevant Arranger and&#47;or the Administrative Agent), but excluding solely in connection with any arranging of commitments to provide the Term Facility on the Closing Date (with any expense reimbursement in connection therewith to be governed by the Engagement Letter, dated as of April 17, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified prior to the Closing Date), by and among the Borrower, JPMCB and the Arrangers) and (ii) all reasonable and documented out-of-pocket expenses incurred by the Administrative Agent, the Arrangers or the Lenders or any of their respective Affiliates (but limited, in the case of legal fees and expenses, to the actual reasonable and documented out-of-pocket fees, disbursements and other charges of one firm of outside counsel to all such Persons taken as a whole and, if necessary, of one local counsel in any relevant jurisdiction to all such Persons, taken as a whole) in connection with the enforcement, collection or protection of their respective </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-168-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">rights in connection with the Loan Documents, including their respective rights under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">Section</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt">, or in connection with the Loans made hereunder.  Except to the extent required to be paid on the Closing Date, all amounts due under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt;text-decoration:underline">paragraph (a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.00pt"> shall be payable by the Borrower within 30 days of receipt by the Borrower of an invoice setting forth such expenses in reasonable detail, together with backup documentation supporting the relevant reimbursement request.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(b) &#160;&#160;&#160;&#160;The Borrower shall indemnify each Arranger, the Administrative Agent and each Lender, and each Related Party of any of the foregoing Persons (each such Person being called an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Indemnitee</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;) against, and hold each Indemnitee harmless from, any and all losses, claims, damages and liabilities (but limited, in the case of legal fees and expenses, to the actual reasonable and documented out-of-pocket fees, disbursements and other charges of one counsel to all Indemnitees taken as a whole and, if reasonably necessary, one local counsel in any relevant jurisdiction to all Indemnitees, taken as a whole and solely in the case of an actual or perceived conflict of interest, (x)&#160;one additional counsel to all affected Indemnitees, taken as a whole, and (y) one additional local counsel to all affected Indemnitees, taken as a whole, in each relevant jurisdiction), incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of the Loan Documents or any agreement or instrument contemplated thereby, the performance by the parties hereto of their respective obligations thereunder or the consummation of the Transactions or any other transactions contemplated hereby or thereby and&#47;or the enforcement of the Loan Documents, (ii)&#160;the use of the proceeds of the Loans, (iii) any actual or alleged Release or presence of Hazardous Materials on, at, under or from any property currently or formerly owned or leased by the Borrower, any of its Restricted Subsidiaries or any other Loan Party or any Environmental Liability related to the Borrower, any of its Restricted Subsidiaries or any other Loan Party and&#47;or (iv)&#160;any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto (and regardless of whether such matter is initiated by a third party or by the Borrower, any other Loan Party or any of their respective Affiliates)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that such indemnity shall not, as to any Indemnitee, be available to the extent that any such loss, claim, damage, or liability (i)&#160;is determined by a final and non-appealable judgment of a court of competent jurisdiction to have resulted from the gross negligence, bad faith or willful misconduct of such Indemnitee or such Person&#8217;s material breach of the Loan Documents or (ii)&#160;arises out of any claim, litigation, investigation or proceeding brought by such Indemnitee against another Indemnitee (other than any claim, litigation, investigation or proceeding that is brought by or against the Administrative Agent or any Arranger, acting in its capacity as the Administrative Agent or as an Arranger) that does not involve any act or omission of the Borrower or any of its Affiliates.  Each Indemnitee shall be obligated to refund or return any and all amounts paid by the Borrower pursuant to this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;9.03(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> to such Indemnitee for any fees, expenses, or damages to the extent such Indemnitee is not entitled to payment thereof in accordance with the terms hereof.  All amounts due under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">paragraph (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall be payable by the Borrower within 30 days (x) after receipt by the Borrower of a written demand therefor, in the case of any indemnification obligations and (y) in the case of reimbursement of costs and expenses, after receipt by the Borrower of an invoice setting forth such costs and expenses in reasonable detail, together with backup documentation supporting the relevant reimbursement request. This </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.03(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall not apply to Taxes other than any Taxes that represent losses, claims, damages or liabilities in respect of a non-Tax claim.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(c) &#160;&#160;&#160;&#160;The Borrower shall not be liable for any settlement of any proceeding effected without the written consent of the Borrower (which consent shall not be unreasonably withheld, delayed or conditioned), but if any proceeding is settled with the written consent of the Borrower, or if there is a final judgment against any Indemnitee in any such proceeding, the Borrower agrees to indemnify and hold harmless each Indemnitee to the extent and in the manner set forth above.  The Borrower shall not, without the prior written consent of the affected Indemnitee (which consent shall not be unreasonably withheld, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-169-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">conditioned or delayed), effect any settlement of any pending or threatened proceeding in respect of which indemnity could have been sought hereunder by such Indemnitee unless (i) such settlement includes an unconditional release of such Indemnitee from all liability or claims that are the subject matter of such proceeding and (ii) such settlement does not include any statement as to any admission of fault or culpability.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Section 9.04.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Waiver of Claim</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.  To the extent permitted by applicable Requirements of Law, no party to this Agreement shall assert, and each hereby waives, any claim against any other party hereto, any Loan Party and&#47;or any Related Party of any thereof, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof, except, in the case of any claim by any Indemnitee against the Borrower, to the extent such damages would otherwise be subject to indemnification pursuant to the terms of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">Section 9.05. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Successors and Assigns.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(a) &#160;&#160;&#160;&#160;The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that (i)&#160;except as provided under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 6.07</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with the terms of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> (any attempted assignment or transfer not complying with the terms of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, including with respect to attempted assignments or transfers to Disqualified Institutions shall be subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">).  Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and permitted assigns, to the extent provided in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">paragraph (e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, Participants and, to the extent expressly contemplated hereby, the Related Parties of each of the Arrangers, the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(b) &#160;&#160;&#160;&#160;(i) Subject to the conditions set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">paragraph (b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> below, any Lender may assign to one or more Eligible Assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of any Additional Term Loan or Additional Commitment added pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sections&#160;2.22</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">2.23</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">9.02(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> at the time owing to it) with the prior written consent of&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(A)&#160;&#160;&#160;&#160;the Borrower (such consent not to be unreasonably withheld, conditioned or delayed)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that (x) the Borrower shall be deemed to have consented to any assignment of Term Loans unless it has objected thereto by written notice to the Administrative Agent within 15 Business Days after receipt of written notice thereof and (y) the consent of the Borrower shall not be required for any assignment of Term Loans or Term Commitments (1) to any Term Lender or any Affiliate of any Term Lender or an Approved Fund or (2) at any time when an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or, solely with respect to the Borrower, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sections 7.01(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> exists&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that notwithstanding the foregoing, unless an Event of Default under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 7.01(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or, solely with respect to the Borrower, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sections 7.01(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> exists, the Borrower may withhold its consent to any assignment to any Person (other than a Bona Fide Debt Fund that is a Competitor (unless the Borrower has a reasonable basis for withholding consent)) that is either (I) not a Disqualified Institution but is known by the Borrower to be an Affiliate of a Disqualified Institution regardless of whether such Person is identifiable as an Affiliate of a Disqualified Institution on the basis of such Affiliate&#8217;s name and&#47;or (II) known by the Borrower to be an investor </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-170-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">primarily in distressed credits or opportunistic or special situations or any affiliate of such investor&#59; and </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(B)&#160;&#160;&#160;&#160;the Administrative Agent (such consent not to be unreasonably withheld, conditioned or delayed)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, that no consent of the Administrative Agent shall be required for any assignment to another Lender, any Affiliate of a Lender or any Approved Fund.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(ii)&#160;&#160;&#160;&#160;Assignments shall be subject to the following additional conditions&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(A)&#160;&#160;&#160;&#160;except in the case of any assignment to another Lender, any Affiliate of any Lender or any Approved Fund or any assignment of the entire remaining amount of the relevant assigning Lender&#8217;s Loans or Commitments of any Class, the principal amount of Loans or Commitments of the assigning Lender subject to the relevant assignment (determined as of the date on which the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent and determined on an aggregate basis in the event of concurrent assignments to Related Funds of the assignee or by Related Funds of the assigning Lender) shall not be less than $1,000,000, in the case of Term Loans and Term Commitments, unless the Borrower and the Administrative Agent otherwise consent&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(B)&#160;&#160;&#160;&#160;any partial assignment shall be made as an assignment of a proportionate part of all the relevant assigning Lender&#8217;s rights and obligations under this Agreement&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(C)&#160;&#160;&#160;&#160;the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption via an electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually), and shall pay to the Administrative Agent a processing and recordation fee of $3,500 (which fee (i) shall not apply to an assignment by a Lender to its controlled Affiliates and (ii) may otherwise be waived or reduced in the sole discretion of the Administrative Agent)&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(D)&#160;&#160;&#160;&#160;the relevant Eligible Assignee, if it is not a Lender, shall deliver on or prior to the effective date of such assignment, to the Administrative Agent (1) an Administrative Questionnaire and (2)&#160;any IRS form and&#47;or other documentation required under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(iii)&#160;&#160;&#160;&#160;Subject to the acceptance and recording thereof pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">paragraph&#160;(b)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, from and after the effective date specified in any Assignment and Assumption, the Eligible Assignee thereunder shall be a party hereto and, to the extent of the interest assigned pursuant to such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender&#8217;s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be (A) entitled to the benefits of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Sections 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> with respect to facts and circumstances occurring on or prior to the effective date of such assignment and (B) subject to its obligations thereunder and under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">).  If any assignment by any Lender holding any Promissory Note is made after the issuance of such Promissory Note, the assigning Lender shall, upon the effectiveness of such assignment or as promptly thereafter as practicable, surrender such Promissory Note to the Administrative Agent for cancellation, and, following such cancellation, if requested by either the assignee or the assigning Lender, the Borrower shall issue and deliver a new Promissory Note to such assignee and&#47;or to such assigning Lender, with appropriate insertions, to reflect the new commitments and&#47;or outstanding Loans of the assignee and&#47;or the assigning Lender.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iv)&#160;&#160;&#160;&#160;The Administrative Agent, acting for this purpose as a non-fiduciary agent of the Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders and their respective successors and assigns, </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-171-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">and the commitment of, and principal amount of and interest on the Loans and Commitments owing to, each Lender pursuant to the terms hereof from time to time (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Register</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;).  The entries in the Register shall be conclusive, absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary.  The Register shall be available for inspection by the Borrower and each Lender (but only as to its own holdings), at any reasonable time and from time to time upon reasonable prior notice.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(v)&#160;&#160;&#160;&#160;Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an Eligible Assignee, the Eligible Assignee&#8217;s completed Administrative Questionnaire and any tax certification required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.05(b)(ii)(D)(2)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (unless the assignee is already a Lender hereunder), the processing and recordation fee referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(b)(ii)(C)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, if applicable, and any written consent to the relevant assignment required by </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(b)(i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Administrative Agent shall promptly accept such Assignment and Assumption and record the information contained therein in the Register.  No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vi)&#160;&#160;&#160;&#160;By executing and delivering an Assignment and Assumption, the assigning Lender and the Eligible Assignee thereunder shall be deemed to confirm and agree with each other and the other parties hereto as follows&#58;  (A) the assigning Lender warrants that it is the legal and beneficial owner of the interest being assigned thereby free and clear of any adverse claim and that the amount of its commitments, and the outstanding balances of its Loans, in each case without giving effect to any assignment thereof which has not become effective, are as set forth in such Assignment and Assumption, (B) except as set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause&#160;(A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> above, the assigning Lender makes no representation or warranty and assumes no responsibility with respect to any statement, warranty or representation made in or in connection with this Agreement, or the execution, legality, validity, enforceability, genuineness, sufficiency or value of this Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto, or the financial condition of the Borrower or any Restricted Subsidiary or the performance or observance by the Borrower or any Restricted Subsidiary of any of its obligations under this Agreement, any other Loan Document or any other instrument or document furnished pursuant hereto&#59; (C) the assignee represents and warrants that it is an Eligible Assignee, legally authorized to enter into such Assignment and Assumption&#59; (D) the assignee confirms that it has received a copy of this Agreement, together with copies of the financial statements referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;3.04</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into such Assignment and Assumption&#59; (E)&#160;the assignee will independently and without reliance upon the Administrative Agent, the assigning Lender or any other Lender and based on such documents and information as it deems appropriate at the time, continue to make its own credit decisions in taking or not taking action under this Agreement&#59; (F) the assignee appoints and authorizes the Administrative Agent to take such action as agent on its behalf and to exercise such powers under this Agreement as are delegated to the Administrative Agent, by the terms hereof, together with such powers as are reasonably incidental thereto&#59; and (G) the assignee agrees that it will perform in accordance with their terms all the obligations which by the terms of this Agreement are required to be performed by it as a Lender.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(c) &#160;&#160;&#160;&#160;(i) Any Lender may, without the consent of the Borrower, the Administrative Agent or any other Lender, sell participations to any bank or other entity (other than to any Disqualified Institution, any natural Person or, other than with respect to any participation to any Debt Fund Affiliate (any such participations to a Debt Fund Affiliate being subject to the limitation set forth in the first proviso of the penultimate paragraph set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, as if the limitation applied to such participations), the Borrower or any of its Affiliates) (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Participant</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) in all or a portion of such Lender&#8217;s rights and </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-172-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">obligations under this Agreement (including all or a portion of its Commitments and the Loans owing to it)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (A) such Lender&#8217;s obligations under this Agreement shall remain unchanged, (B) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender&#8217;s rights and obligations under this Agreement.  Any agreement or instrument pursuant to which any Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that such agreement or instrument may provide that such Lender will not, without the consent of the relevant Participant, agree to any amendment, modification or waiver described in (x) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the first proviso to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that directly and adversely affects the Loans or Commitments in which such Participant has an interest and (y) </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clauses (B)(1)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(2)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(3)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of the first proviso to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  Subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (c)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, the Borrower agrees that each Participant shall be entitled to the benefits of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> (subject to the limitations and requirements of such Sections and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">paragraph (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and it being understood that the documentation required under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be delivered solely to the participating Lender, and if additional amounts are required to be paid pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.17(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, by the participating Lender to the Borrower and the Administrative Agent.  To the extent permitted by applicable Requirements of Law, each Participant also shall be entitled to the benefits of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as though it were a Lender&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that such Participant shall be subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.18(c)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> as though it were a Lender.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii)&#160;&#160;&#160;&#160;No Participant shall be entitled to receive any greater payment under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> than the participating Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation to such Participant is made with the Borrower&#8217;s prior written consent, not to be unreasonably withheld or delayed, expressly acknowledging that such Participant&#8217;s entitlement to benefits under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> is not limited to what the participating Lender would have been entitled to receive absent the participation.</font></div><div style="text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and their respective successors and registered assigns, and the principal and interest amounts of each Participant&#8217;s interest in the Loans or other obligations under the Loan Documents (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Participant Register</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that no Lender shall have any obligation to disclose all or any portion of any Participant Register (including the identity of any Participant or any information relating to any Participant&#8217;s interest in any Commitment, Loan or any other obligation under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other obligation is in registered form under Section 5f.103-1(c) of the Treasury Regulations, or is otherwise required under the Code or Treasury Regulations.  The entries in the Participant Register shall be conclusive absent manifest error, and each Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt">(d) &#160;&#160;&#160;&#160;Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this Agreement (other than to any Disqualified Institution or any natural person) to secure obligations of such Lender, including, without limitation, any pledge or assignment to secure obligations to any Federal Reserve Bank or other central bank having jurisdiction over such Lender, and this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> shall not apply to any such pledge or assignment of a security interest&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.00pt"> that no such pledge or assignment of a security interest shall release any Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-173-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(e) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary contained herein, any Lender (a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Granting Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) may grant to a special purpose funding vehicle (an &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">SPC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), identified as such in writing from time to time by the Granting Lender to the Administrative Agent and the Borrower, the option to provide to the Borrower all or any part of any Loan that such Granting Lender would otherwise be obligated to make to the Borrower pursuant to this Agreement&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (i) nothing herein shall constitute a commitment by any SPC to make any Loan and (ii) if an SPC elects not to exercise such option or otherwise fails to provide all or any part of such Loan, the Granting Lender shall be obligated to make such Loan pursuant to the terms hereof.  The making of any Loan by an SPC hereunder shall utilize the Commitment of the Granting Lender to the same extent, and as if, such Loan were made by such Granting Lender.  Each party hereto hereby agrees that (i) neither the grant to any SPC nor the exercise by any SPC of such option shall increase the costs or expenses or otherwise increase or change the obligations of the Borrower under this Agreement (including its obligations under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">) and no SPC shall be entitled to any greater amount under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> or any other provision of this Agreement or any other Loan Document that the Granting Lender would have been entitled to receive, unless the grant to such SPC is made with the prior written consent of the Borrower, not to be unreasonably withheld or delayed, expressly acknowledging that such SPC&#8217;s entitlement to benefits under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections 2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> is not limited to what the Granting Lender would have been entitled to receive absent the grant to the SPC, (ii) no SPC shall be liable for any indemnity or similar payment obligation under this Agreement (all liability for which shall remain with the Granting Lender) and (iii) the Granting Lender shall for all purposes (including approval of any amendment, waiver or other modification of any provision of the Loan Documents) remain the Lender of record hereunder.  In furtherance of the foregoing, each party hereto hereby agrees (which agreement shall survive the termination of this Agreement) that, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper or other senior indebtedness of any SPC, it will not institute against, or join any other Person in instituting against, such SPC any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings under the Requirements of Law of the U.S. or any State thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that (i)&#160;such SPC&#8217;s Granting Lender is in compliance in all material respects with its obligations to the Borrower hereunder and (ii) each Lender designating any SPC hereby agrees to indemnify, save and hold harmless each other party hereto for any loss, cost, damage or expense arising out of its inability to institute such a proceeding against such SPC during such period of forbearance.  In addition, notwithstanding anything to the contrary contained in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, any SPC may (i) with notice to, but without the prior written consent of, the Borrower or the Administrative Agent and without paying any processing fee therefor, assign all or a portion of its interests in any Loan to the Granting Lender and (ii) disclose on a confidential basis any non-public information relating to its Loans to any rating agency, commercial paper dealer or provider of any surety, guaranty or credit or liquidity enhancement to such SPC.  Any grant by a Granting Lender to an SPC shall be recorded in the Participant Register pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">subsection 9.5(c)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"><br>&#160;&#160;&#160;&#160;(f) &#160;&#160;&#160;&#160;(i) Any assignment or participation by a Lender without the Borrower&#8217;s consent&#160;to any Disqualified Institution or otherwise not in compliance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be subject to the provisions of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, and the Borrower shall be entitled to seek specific performance to enforce this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> in addition to injunctive relief (without posting a bond or presenting evidence of irreparable harm) or any other remedies available to the Borrower at law or in equity&#59; it being understood and agreed that the Borrower and its Subsidiaries will suffer irreparable harm if any Lender breaches any obligation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> as it relates to any assignment, participation or pledge of any Loan or Commitment to any Disqualified Institution or any other Person to whom the Borrower&#8217;s consent is required but not obtained. Nothing in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be deemed to prejudice any right or remedy that the Borrower may otherwise have at law or equity.  Upon the request of any Lender, the Administrative Agent and the Borrower may make the list of Disqualified Institutions (other than any Disqualified </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-174-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Institution under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (a)(iii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> or </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">(b)(ii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> of the definition thereof) available to such Lender so long as such Lender agrees to keep the list of Disqualified Institutions confidential in accordance with the terms hereof and such Lender may provide such list of Disqualified Institutions to any potential assignee or participant on a confidential basis, solely for the purpose of permitting such potential assignee or participant to verify whether such Person constitutes a Disqualified Institution.</font></div><div><font><br></font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">(ii)&#160;&#160;&#160;&#160;If any assignment or participation under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> is made to a Disqualified Institution without the Borrower&#8217;s prior written consent or otherwise not in compliance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, then the Borrower may, at its sole expense and effort, upon notice to the applicable Disqualified Institution (or the applicable Lender) and the Administrative Agent, (A) terminate any Commitment of such Disqualified Institution (or the applicable Lender) and repay all obligations of the Borrower owing to such Disqualified Institution (or the applicable Lender), (B) in the case of any outstanding Term Loans, held by such Disqualified Institution (or the applicable Lender), purchase such Term Loans by paying the lesser of (x)&#160;par and (y) the amount that such Disqualified Institution (or the applicable Lender) paid to acquire such Term Loans, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> accrued interest thereon, accrued fees and all other amounts payable to it hereunder and&#47;or (C) require such Disqualified Institution (or the applicable Lender) to assign, without recourse (in accordance with and subject to the restrictions contained in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">), all of its interests, rights and obligations under this Agreement to one or more Eligible Assignees&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that (I) in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, the applicable Disqualified Institution (or the applicable Lender) has received payment of an amount equal to the lesser of (1) par and (2) the amount that such Disqualified Institution (or the applicable Lender) paid for the applicable Loans, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">plus</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the Borrower, (II) in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clauses (A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, the Borrower shall not be liable to the relevant Disqualified Institution (or the applicable Lender) under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> if any Term Benchmark Loan or RFR Loan owing to such Disqualified Institution (or the applicable Lender) is repaid or purchased other than on the last day of the Interest Period (or, in the case of an RFR Loan, the next applicable Interest Payment Date) relating thereto, (III) in the case of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">clause (C)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">, the relevant assignment shall otherwise comply with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> (except that (x) no registration and processing fee required under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be required with any assignment pursuant to this paragraph and (y) any Term Loan acquired by any Affiliated Lender pursuant to this paragraph will not be included in calculating compliance with the Affiliated Lender Cap for a period of 90 days following such transfer&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> that, to the extent the aggregate principal amount of Term Loans held by Affiliated Lenders exceeds the Affiliated Lender Cap on the 91st day following such transfer, then such excess amount shall either be (x) contributed to the Borrower or any of its Subsidiaries and retired and cancelled immediately upon such contribution or (y) automatically cancelled) and (IV) in no event shall such Disqualified Institution (or the applicable Lender) be entitled to receive amounts set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 2.13(e)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Further, the Borrower may, upon notice to the Administrative Agent, require that such Disqualified Institution (or the applicable Lender) (A) will not receive information or reporting provided by any Loan Party, the Administrative Agent or any Lender and will not be permitted to attend or participate in conference calls or meetings attended solely by the Lenders and the Administrative Agent, (B) (x) for purposes of determining whether the Required Lenders or the majority Lenders under any Class have (i) consented (or not consented) to any amendment, modification, waiver, consent or other action with respect to any of the terms of any Loan Document or any departure by any Loan Party therefrom, (ii) otherwise acted on any matter related to any Loan Document, or (iii) directed or required the Administrative Agent or any Lender to undertake any action (or refrain from taking any action) with respect to or under any Loan Document, shall not have any right to consent (or not consent), otherwise act or direct or require the Administrative Agent or any Lender to take (or refrain from taking) any such action, and all Loans held by any Disqualified Institution (or the applicable Lender) shall be deemed to be not outstanding for all purposes of calculating whether the Required Lenders, majority Lenders under any Class or all Lenders have taken any actions, and (y) hereby agrees that if a case or proceeding under any Debtor Relief Law shall be commenced by or against the Borrower or any other Loan Party, such Disqualified Institution (or the applicable Lender) will be deemed to vote in the same proportion as Lenders that are not Disqualified Institutions (or the applicable Lender) and that any vote by any such Disqualified Institution in violation of the foregoing shall not be counted and (C) hereby agrees that the </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-175-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall not apply in favor of such Disqualified Institutions (or the applicable Lender).  For the sake of clarity, the provisions in this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.05(f)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall not apply to any Person that is an assignee of a Disqualified Institution (or the applicable Lender), if such assignee is not a Disqualified Institution (or the applicable Lender).</font></div><div style="margin-bottom:12pt;text-indent:72pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(iii)&#160;&#160;&#160;&#160;Notwithstanding anything to the contrary herein, each of the Borrower and each Lender acknowledges and agrees that the Administrative Agent, in its capacity as such, shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Disqualified Institutions (or the applicable Lender), including whether any Lender or potential Lender is a Disqualified Institution (or the applicable Lender).  Without limiting the generality of the foregoing, the Administrative Agent, in its capacity as such, shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or participant or prospective Lender or participant is a Disqualified Institution (or the applicable Lender) or (y) have any liability with respect to or arising out of any assignment or participation of Loans or Commitments, or disclosure of confidential information, to any Disqualified Institution (or the applicable Lender) (regardless of whether the consent of the Administrative Agent is required thereto), and none of the Borrower, any Lender or their respective Affiliates will bring any claim to such effect.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(g) &#160;&#160;&#160;&#160;Notwithstanding anything to the contrary contained herein, any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Term Loans to any Affiliated Lender, the Borrower or any of its Restricted Subsidiaries (A)&#160;through Dutch Auctions open to all Lenders holding the relevant Term Loans or (B)&#160;through open market purchases on a non-pro rata basis, in each case with respect to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clauses (A)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">(B)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, without the consent of the Administrative Agent&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that&#58;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(i)&#160;&#160;&#160;&#160; any Term Loans acquired by the Borrower or any of its Restricted Subsidiaries shall, to the extent permitted by applicable Requirements of Law, be retired and cancelled immediately upon the acquisition thereof&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that upon any such retirement and cancellation, the aggregate outstanding principal amount of the Term Loans shall be deemed reduced by the full par value of the aggregate principal amount of the Term Loans so retired and cancelled, and each principal repayment installment with respect to the Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.10(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall be reduced on a pro rata basis by the full par value of the aggregate principal amount of Term Loans so cancelled&#59;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(ii) &#160;&#160;&#160;&#160;any Term Loans acquired by any Affiliated Lender may (but shall not be required to) be contributed to the Borrower or any of its Subsidiaries (it being understood that any such Term Loans shall, to the extent permitted by applicable Requirements of Law, be retired and cancelled promptly upon such contribution)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that upon any such cancellation, the aggregate outstanding principal amount of the applicable Term Loans shall be deemed reduced, as of the date of such contribution, by the full par value of the aggregate principal amount of the Term Loans so contributed and cancelled, and each principal repayment installment with respect to the applicable Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 2.10(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> shall be reduced pro rata by the full par value of the aggregate principal amount of Term Loans so contributed and cancelled&#59;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(iii)&#160;&#160;&#160;&#160;the relevant Affiliated Lender and assigning Lender shall have executed an Affiliated Lender Assignment and Assumption&#59;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(iv)&#160;&#160;&#160;&#160; after giving effect to the relevant assignment and to all other assignments to all Affiliated Lenders, the aggregate principal amount of all Term Loans then held by all Affiliated Lenders shall not exceed 25% of the aggregate principal amount of the Term Loans then </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-176-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:40.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">outstanding (after giving effect to any substantially simultaneous cancellations thereof) (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Affiliated Lender Cap</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that each party hereto acknowledges and agrees that the Administrative Agent shall not be liable for any losses, damages, penalties, claims, demands, actions, judgments, suits, costs, expenses and disbursements of any kind or nature whatsoever incurred or suffered by any Person in connection with any compliance or non-compliance with this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause&#160;(g)(iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or any purported assignment exceeding the Affiliated Lender Cap (it being understood and agreed that the Affiliated Lender Cap is intended to apply to any Term Loans made available to Affiliated Lenders by means other than formal assignment (e.g., as a result of an acquisition of another Lender (other than any Debt Fund Affiliate)) by any Affiliated Lender or the provision of Additional Term Loans by any Affiliated Lender)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that to the extent that any assignment to any Affiliated Lender would result in the aggregate principal amount of Term Loans held by Affiliated Lenders exceeding the Affiliated Lender Cap (after giving effect to any substantially simultaneous cancellations thereof), the assignment of the relevant excess amount shall be null and void&#59;</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(v) &#160;&#160;&#160;&#160;in connection with any assignment effected pursuant to a Dutch Auction and&#47;or open market purchase conducted by the Borrower or any of its Restricted Subsidiaries,&#160;no Event of Default exists at the time of acceptance of bids for the Dutch Auction or the confirmation of such open market purchase, as applicable&#59; and</font></div><div style="margin-bottom:12pt;padding-left:40.5pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:14.20pt">(vi)&#160;&#160;&#160;&#160; by its acquisition of Term Loans, each relevant Affiliated Lender shall be deemed to have acknowledged and agreed that&#58;</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(A)&#160;&#160;&#160;&#160;subject to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">clause (iv)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> above, the Term Loans held by such Affiliated Lender shall be disregarded in both the numerator and denominator in the calculation of any Required Lender or other Lender vote (and the Term Loans held by such Affiliated Lender shall be deemed to be voted pro rata along with the other Lenders that are not Affiliated Lenders)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that (x)&#160;such Affiliated Lender shall have the right to vote (and the Term Loans held by such Affiliated Lender shall not be so disregarded) with respect to any amendment, modification, waiver, consent or other action that requires the vote of all Lenders or all Lenders directly and adversely affected thereby, as the case may be, and (y)&#160;no amendment, modification, waiver, consent or other action shall (1) disproportionately affect such Affiliated Lender in its capacity as a Lender as compared to other Lenders of the same Class that are not Affiliated Lenders or (2) deprive any Affiliated Lender of its share of any payments which the Lenders are entitled to share on a pro rata basis hereunder, in each case without the consent of such Affiliated Lender&#59; and</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">(B)&#160;&#160;&#160;&#160;such Affiliated Lender, solely in its capacity as an Affiliated Lender, will not be entitled to (i) attend (including by telephone) or participate in any meeting or discussion (or portion thereof) among the Administrative Agent or any Lender or among Lenders to which the Loan Parties or their representatives are not invited or (ii) receive any information or material prepared by the Administrative Agent or any Lender or any communication by or among the Administrative Agent and one or more Lenders, except to the extent such information or materials have been made available by the Administrative Agent or any Lender to any Loan Party or its representatives (and in any case, other than the right to receive notices of Borrowings, prepayments and other administrative notices in respect of its Term Loans required to be delivered to Lenders pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Article&#160;2</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">)&#59;</font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-177-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(vii)&#160;&#160;&#160;&#160; no Affiliated Lender shall be required to represent or warrant that it is not in possession of material non-public information with respect to the Borrower and&#47;or any Subsidiary thereof and&#47;or their respective securities in connection with any assignment permitted by this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section 9.05(g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(viii) &#160;&#160;&#160;&#160;in any case or proceeding under any Debtor Relief Law, the interest of any Affiliated Lender in any Term Loan will be deemed to be voted in the same proportion as the vote of Lenders that are not Affiliated Lenders on the relevant matter&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that each Affiliated Lender will be entitled to vote its interest in any Term Loan to the extent that any plan of reorganization or similar dispositive restructuring plan with respect to which the relevant vote is sought proposes to treat the interest of such Affiliated Lender in such Term Loan in a manner that is less favorable to such Affiliated Lender than the proposed treatment of Term Loans held by other Term Lenders.</font></div><div style="margin-bottom:12pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Notwithstanding anything to the contrary contained herein, any Lender may, at any time, assign all or a portion of its rights and obligations under this Agreement in respect of its Term Loans to any Debt Fund Affiliate, and any Debt Fund Affiliate may, from time to time, purchase Term Loans (x) on a non-pro rata basis through Dutch Auctions open to all applicable Lenders or (y) on a non-pro rata basis through open market purchases without the consent of the Administrative Agent, in each case, notwithstanding the requirements set forth in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">subclauses (i)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> through </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">(viii)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">clause (g)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that the Term Loans held by all Debt Fund Affiliates shall not account for more than 49.9% of the amounts included in determining whether the Required Lenders have (A) consented to any amendment, modification, waiver, consent or other action with</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.018000000000000002em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">respect</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">to</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">of the</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ter</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">s</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.018000000000000002em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">of any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Docu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">departure</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.04em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">by any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Party</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">therefrom, (B) otherwise</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.04em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">acted</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.004em;line-height:120%">o</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">n any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">atter</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.027em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">rel</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.004em;line-height:120%">a</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ted</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">to</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.004em;line-height:120%">a</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ny Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Docu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.05em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or (C) directed</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.036000000000000004em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or required</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">the</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Ad</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:0.004em;line-height:120%">i</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">nistrative</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.045em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Agent</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.027em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Lender</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">to undertake</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.04em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">action</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.027em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(or refrain</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.027em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">from</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">taking</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.027em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.013000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">action)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">with</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.018000000000000002em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">respect</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.031em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">to</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">or under</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">any Loan</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.022em;line-height:120%"> </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Docu</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;letter-spacing:-0.009000000000000001em;line-height:120%">m</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">ent&#59; it being understood and agreed that the portion of the Term Loan that accounts for more than 49.9% of the relevant Required Lender action shall be deemed to be voted pro rata along with other Lenders that are not Debt Fund Affiliates.  Any Term Loans acquired by any Debt Fund Affiliate may (but shall not be required to) be contributed to the Borrower or any of its Subsidiaries for purposes of cancelling such Indebtedness (it being understood that any Term Loans so contributed shall be retired and cancelled immediately upon thereof)&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that upon any such cancellation, the aggregate outstanding principal amount of the relevant Class of Loans shall be deemed reduced, as of the date of such contribution, by the full par value of the aggregate principal amount of the Loans so contributed and cancelled, and each principal repayment installment with respect to the Term Loans pursuant to </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Section&#160;2.10(a)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall be reduced pro rata by the full par value of the aggregate principal amount of any applicable Term Loans so contributed and cancelled.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 9.06. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Survival.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> &#160;&#160;&#160;&#160; All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loan regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent may have had notice or knowledge of any Default or Event of Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect until the Termination Date.  The provisions of </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Sections&#160;2.15</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.16</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">2.17</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.03</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> and </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Article 8</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the occurrence of the Termination Date or the termination of this Agreement or any provision hereof but in each case, subject to the limitations set forth in this Agreement.</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-178-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Section 9.07. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Counterparts&#59; Integration&#59; Effectiveness.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">  This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement, the other Loan Documents, the Engagement Letter and any separate letter agreements with respect to fees payable to the Administrative Agent constitute the entire agreement among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof.  This Agreement shall become effective when it has been executed by the Borrower and the Administrative Agent and when the Administrative Agent has received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other electronic transmission (including by email as a &#8220;.pdf&#8221; or &#8220;.tif&#8221; attachment) shall be effective as delivery of a manually executed counterpart of this Agreement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Section 9.08. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Severability</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  To the extent permitted by applicable Requirements of Law, any provision of any Loan Document held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions thereof&#59; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Section 9.09.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Right of Setoff.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">  At any time when an Event of Default exists, the Administrative Agent and each Lender is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable Requirements of Law, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations (in any currency) at any time owing by the Administrative Agent or such Lender to or for the credit or the account of any Loan Party against any of and all the Secured Obligations held by the Administrative Agent or such Lender, irrespective of whether or not the Administrative Agent or such Lender shall have made any demand under the Loan Documents and although such obligations may be contingent or unmatured or are owed to a branch or office of such Lender different than the branch or office holding such deposit or obligation on such Indebtedness.  Any applicable Lender shall promptly notify the Borrower and the Administrative Agent of such set-off or application&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> that any failure to give or any delay in giving such notice shall not affect the validity of any such set-off or application under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.  The rights of each Lender and the Administrative Agent under this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Section 9.09</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt"> are in addition to other rights and remedies (including other rights of setoff) which such Lender or the Administrative Agent may have. </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">Section 9.10. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt;text-decoration:underline">Governing Law&#59; Jurisdiction&#59; Consent to Service of Process</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(a) &#160;&#160;&#160;&#160;THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER LOAN DOCUMENT) AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED TO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (OTHER THAN AS EXPRESSLY SET FORTH IN ANY OTHER LOAN DOCUMENT), SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">(b)&#160;&#160;&#160;&#160; EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE EXCLUSIVE JURISDICTION OF ANY U.S. FEDERAL OR NEW YORK STATE COURT SITTING IN THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK (OR ANY APPELLATE COURT THEREFROM) OVER ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT AND </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-179-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.50pt">AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING SHALL (EXCEPT AS PERMITTED BELOW) BE HEARD AND DETERMINED IN SUCH NEW YORK STATE OR, TO THE EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, FEDERAL COURT.  EACH PARTY HERETO AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY REGISTERED MAIL ADDRESSED TO SUCH PERSON SHALL BE EFFECTIVE SERVICE OF PROCESS AGAINST SUCH PERSON FOR ANY SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT.  EACH PARTY HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY APPLICABLE REQUIREMENTS OF LAW.  EACH PARTY HERETO AGREES THAT THE ADMINISTRATIVE AGENT RETAINS THE RIGHT TO BRING PROCEEDINGS AGAINST ANY LOAN PARTY IN THE COURTS OF ANY OTHER JURISDICTION SOLELY IN CONNECTION WITH THE EXERCISE OF ITS RIGHTS UNDER ANY COLLATERAL DOCUMENT.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:22.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT IT MAY LEGALLY AND EFFECTIVELY DO SO, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">PARAGRAPH (b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> OF THIS </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">SECTION 9.10</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">.  </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(c) &#160;&#160;&#160;&#160;EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, ANY CLAIM OR DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION, SUIT OR PROCEEDING IN ANY SUCH COURT.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">(d)&#160;&#160;&#160;&#160; TO THE EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND AGREES THAT ALL SUCH SERVICE OF PROCESS MAY BE MADE BY REGISTERED MAIL (OR ANY SUBSTANTIALLY SIMILAR FORM OF MAIL) DIRECTED TO IT AT ITS ADDRESS FOR NOTICES AS PROVIDED FOR IN </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">SECTION&#160;9.01</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.  EACH PARTY HERETO HEREBY WAIVES ANY OBJECTION TO SUCH SERVICE OF PROCESS AND FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY ACTION OR PROCEEDING COMMENCED HEREUNDER OR UNDER ANY OTHER LOAN DOCUMENT THAT SERVICE OF PROCESS WAS INVALID AND INEFFECTIVE.  NOTHING IN THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT WILL AFFECT THE RIGHT OF ANY PARTY TO THIS AGREEMENT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE REQUIREMENTS OF LAW.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">Section 9.11. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">Waiver of Jury Trial</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY) DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.  EACH PARTY HERETO (a) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-180-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt;text-decoration:underline">SECTION 9.11</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.70pt">.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:13.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 9.12.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Headings</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Article and Section headings and the Table of Contents used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:13.5pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Section 9.13. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Confidentiality</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">.  Each of the Administrative Agent, each Lender, each Arranger, each First Amendment Arranger (as defined in the First Amendment), each Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, each Fourth Amendment Arranger, each Fifth Amendment Arranger, each Sixth Amendment Arranger, each Seventh Amendment Arranger, each Tenth Amendment Arranger</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:line-through"> and</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> each Eleventh Amendment </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Arranger and each Twelfth Amendment </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Arranger agrees (and each Lender agrees to cause its SPC, if any) to maintain the confidentiality of the Confidential Information (as defined below), except that Confidential Information may be disclosed (a) to its and its Affiliates&#8217; directors, officers, managers, employees, independent auditors, or other experts and advisors, including accountants, legal counsel and other advisors (collectively, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Representatives</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221;) on a &#8220;need to know&#8221; basis solely in connection with the transactions contemplated hereby and who are informed of the confidential nature of the Confidential Information and are or have been advised of their obligation to keep the Confidential Information of this type confidential&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> that such Person shall be responsible for its Affiliates&#8217; and their Representatives&#8217; compliance with this paragraph&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">further</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, that unless the Borrower otherwise consents, no such disclosure shall be made by the Administrative Agent, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger, any </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Twelfth Amendment Arranger any </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Lender or any Affiliate or Representative thereof to any Affiliate or Representative of the Administrative Agent, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger, </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">any Twelfth Amendment Arranger </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">or any Lender that is a Disqualified Institution, (b)&#160;to the extent compelled by legal process in, or reasonably necessary to, the defense of such legal, judicial or administrative proceeding, in any legal, judicial or administrative proceeding or otherwise as required by applicable Requirements of Law (in which case such Person shall (i) to the extent permitted by applicable Requirements of Law, inform the Borrower promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any such information so disclosed is accorded confidential treatment), (c) upon the demand or request of any regulatory or governmental authority (including any self-regulatory body) purporting to have jurisdiction over such Person or its Affiliates (in which case such Person shall, except with respect to any audit or examination conducted by bank accountants or any Governmental Authority or regulatory or self-regulatory authority exercising examination or regulatory authority, to the extent permitted by applicable Requirements of Law, (i) inform the Borrower promptly in advance thereof and (ii) use commercially reasonable efforts to ensure that any information so disclosed is accorded confidential treatment), (d)&#160;to any other party to this Agreement, (e)&#160;subject to an acknowledgment and agreement by the relevant recipient that the Confidential Information is being disseminated on a confidential basis (on substantially the terms set forth in this paragraph or as otherwise reasonably acceptable to the Borrower and the Administrative Agent, including as set forth in the Information Memorandum) in accordance with the standard syndication process of the Arrangers, First Amendment Arrangers (as defined in the First Amendment), Second Amendment Arrangers (as defined in the Second </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-181-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">Amendment), Third Amendment Arranger, Fourth Amendment Arrangers, Fifth Amendment Arrangers, Sixth Amendment Arrangers, Seventh Amendment Arrangers, Tenth Amendment Arrangers</font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:line-through"> or</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">,</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> Eleventh Amendment Arrangers</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline"> or Twelfth Amendment Arrangers</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, as applicable, or market standards for dissemination of the relevant type of information, which shall in any event require &#8220;click through&#8221; or other affirmative action on the part of the recipient to access the Confidential Information and acknowledge its confidentiality obligations in respect thereof, to (i) any Eligible Assignee of or Participant in, or any prospective Eligible Assignee of or prospective Participant in, any of its rights or obligations under this Agreement, including any SPC (in each case other than a Disqualified Institution), (ii) any pledgee referred to in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section&#160;9.05</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, (iii) any actual or prospective, direct or indirect contractual counterparty (or its advisors) to any Derivative Transaction (including any credit default swap) or similar derivative product to which any Loan Party is a party and (iv) subject to the Borrower&#8217;s prior approval of the information to be disclosed, (x) to Moody&#8217;s or S&#38;P on a confidential basis in connection with obtaining or maintaining ratings as required under </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 5.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or (y) to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the facilities or, on a confidential basis, market data collectors and service providers to the Administrative Agent in connection with the administration and management of this Agreement and the Loan Documents, (f) with the prior written consent of the Borrower and (g)&#160;to the extent the Confidential Information becomes publicly available other than as a result of a breach of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> by such Person, its Affiliates or their respective Representatives.  For purposes of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Section 9.13</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">, &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">Confidential Information</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt">&#8221; means all information relating to the Borrower and&#47;or any of its Subsidiaries and their respective businesses or the Transactions (including any information obtained by the Administrative Agent, any Lender, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">, any Twelfth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or any of their respective Affiliates or Representatives, based on a review of any books and records relating to the Borrower and&#47;or any of its Subsidiaries and their respective Affiliates from time to time, including prior to the date hereof) other than any such information that is publicly available to the Administrative Agent, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt;text-decoration:underline">, any Twelfth Amendment Arranger</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:13.20pt"> or Lender on a non-confidential basis prior to disclosure by the Borrower or any of its Subsidiaries.  For the avoidance of doubt, in no event shall any disclosure of any Confidential Information be made to a Person that is a Disqualified Institution at the time of disclosure.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.14. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">No Fiduciary Duty</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Each of the Administrative Agent, the Arrangers, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh Amendment Arranger, </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">any Twelfth Amendment Arranger, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">each Lender and their respective Affiliates (collectively, solely for purposes of this paragraph, the &#8220;Lenders&#8221;), may have economic interests that conflict with those of the Loan Parties, their stockholders and&#47;or their respective affiliates. Each Loan Party agrees that nothing in the Loan Documents or otherwise will be deemed to create an advisory, fiduciary or agency relationship or fiduciary or other implied duty between the Administrative Agent, any Arranger, any First Amendment Arranger (as defined in the First Amendment), any Second Amendment Arranger (as defined in the Second Amendment), the Third Amendment Arranger, any Fourth Amendment Arranger, any Fifth Amendment Arranger, any Sixth Amendment Arranger, any Seventh Amendment Arranger, any Tenth Amendment Arranger, any Eleventh </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-182-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Amendment Arranger, any </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Twelfth Amendment Arranger, any </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Lender or their respective Affiliates, on the one hand, and such Loan Party, its respective stockholders or its respective affiliates, on the other.  Each Loan Party acknowledges and agrees that&#58;  (i) the transactions contemplated by the Loan Documents (including the exercise of rights and remedies hereunder and thereunder) are arm&#8217;s-length commercial transactions between the Lenders, on the one hand, and the Loan Parties, on the other, and (ii) in connection therewith and with the process leading thereto, (x) no Lender, in its capacity as such, has assumed an advisory or fiduciary responsibility in favor of any Loan Party, its respective stockholders or its respective affiliates with respect to the transactions contemplated hereby (or the exercise of rights or remedies with respect thereto) or the process leading thereto (irrespective of whether any Lender has advised, is currently advising or will advise any Loan Party, its respective stockholders or its respective Affiliates on other matters) or any other obligation to any Loan Party except the obligations expressly set forth in the Loan Documents and (y) each Lender, in its capacity as such, is acting solely as principal and not as the agent or fiduciary of such Loan Party, its respective management, stockholders, creditors or any other Person.  Each Loan Party acknowledges and agrees that such Loan Party has consulted its own legal, tax and financial advisors to the extent it deemed appropriate and that it is responsible for making its own independent judgment with respect to such transactions and the process leading thereto. To the fullest extent permitted by the applicable Requirements of Law, each Loan Party hereby agrees not to assert any claim against the Administrative Agent, the Arrangers, the First Amendment Arrangers (as defined in the First Amendment), the Second Amendment Arrangers (as defined in the Second Amendment), the Third Amendment Arranger, the Fourth Amendment Arrangers, the Fifth Amendment Arrangers, the Sixth Amendment Arrangers, the Seventh Amendment Arrangers, the Tenth Amendment Arrangers, the Eleventh Amendment Arrangers, </font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">the Twelfth Amendment Arrangers, </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">any Lender or any of their respective Affiliates with respect to any alleged breach of fiduciary duty arising solely by virtue of this Agreement.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.15. &#160;&#160;&#160;&#160;S</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">everal Obligations</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  The respective obligations of the Lenders hereunder are several and not joint and the failure of any Lender to make any Loan or perform any of its obligations hereunder shall not relieve any other Lender from any of its obligations hereunder.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.16. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">USA PATRIOT Act. </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> Each Lender that is subject to the requirements of the USA PATRIOT Act hereby notifies the Loan Parties that pursuant to the requirements of the USA PATRIOT Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of such Loan Party and other information that will allow such Lender to identify such Loan Party in accordance with the USA PATRIOT Act.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.17. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Disclosure of Agent Conflicts</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Each Loan Party and each Lender hereby acknowledge and agree that the Administrative Agent and&#47;or its Affiliates from time to time may hold investments in, make other loans to or have other relationships with any of the Loan Parties and their respective Affiliates.</font></div><div><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.18.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Appointment for Perfection</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Each Lender hereby appoints each other Lender as its agent for the purpose of perfecting Liens for the benefit of the Administrative Agent and the Lenders, in assets which, in accordance with Article 9 of the UCC or any other applicable Requirement of Law can be perfected only by possession.  If any Lender (other than the Administrative Agent) obtains possession of any Collateral, such Lender shall notify the Administrative Agent thereof and, promptly upon the Administrative Agent&#8217;s request therefor shall deliver such Collateral to the Administrative Agent or otherwise deal with such Collateral in accordance with the Administrative Agent&#8217;s instructions.  The Lenders hereby acknowledge and agree that the Administrative Agent may act, subject to and in accordance with the terms of any Acceptable Intercreditor Agreement, and any other applicable intercreditor or subordination agreement, as the collateral agent for the Lenders.</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">Section 9.19.&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline"> Interest Rate Limitation</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">.  Notwithstanding anything herein to the contrary, if at any time the interest rate applicable to any Loan, together with all fees, charges and other amounts which are </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-183-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-top:2pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">treated as interest on such Loan under applicable Requirements of Law (collectively the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Charged Amounts</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;), shall exceed the maximum lawful rate (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Maximum Rate</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt">&#8221;) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable Requirements of Law, the rate of interest payable in respect of such Loan hereunder, together with all Charged Amounts payable in respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charged Amounts that would have been payable in respect of such Loan but were not payable as a result of the operation of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt;text-decoration:underline">Section 9.19</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:12.20pt"> shall be cumulated and the interest and Charged Amounts payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the date of repayment, have been received by such Lender. </font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> </font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 9.20. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Conflicts.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">  Notwithstanding anything to the contrary contained herein or in any other Loan Document, in the event of any conflict or inconsistency between this Agreement and any other Loan Document, the terms of this Agreement shall govern and control&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> that in the case of any conflict or inconsistency between any Acceptable Intercreditor Agreement and any Loan Document, the terms of any Acceptable Intercreditor Agreement shall govern and control. </font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 9.21. &#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Release of Guarantors.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">  Notwithstanding anything in </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;9.02(b)</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> to the contrary, any Subsidiary Guarantor shall automatically be released from its obligations hereunder (and its Loan Guaranty shall be automatically released) (i)&#160;upon the consummation of any permitted transaction or series of related transactions if as a result thereof such Subsidiary Guarantor ceases to be a Restricted Subsidiary, (ii) upon such Subsidiary Guarantor becoming or constituting an Excluded Subsidiary as a result of a transaction or transactions permitted hereunder and&#47;or (iii)&#160;upon the occurrence of the Termination Date.  In connection with any such release, the Administrative Agent shall promptly execute and deliver to the relevant Loan Party, at such Loan Party&#8217;s expense, all documents that such Loan Party shall reasonably request to evidence termination or release&#59; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">provided</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">, that upon the request of the Administrative Agent, the Borrower shall deliver a certificate of a Financial Officer certifying that the relevant transaction has been consummated in compliance with the terms of this Agreement.  Any execution and delivery of any document pursuant to the preceding sentence of this </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Section&#160;9.21</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%"> shall be without recourse to or warranty by the Administrative Agent (other than as to the Administrative Agent&#8217;s authority to execute and deliver such documents).</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">Section 9.22.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">Acknowledgment and Consent to Bail-In of EEA Financial Institutions.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding of the parties hereto, each such party acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by&#58;</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(a) &#160;&#160;&#160;&#160;the application of any Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution&#59; and</font></div><div style="margin-top:2pt"><font><br></font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(b) &#160;&#160;&#160;&#160;the effects of any Bail-In Action on any such liability, including, if applicable&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:100%">(i)&#160;&#160;&#160;&#160; a reduction in full or in part or cancellation of any such liability&#59;</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(ii) &#160;&#160;&#160;&#160;a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be </font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-184-</font></div><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:74.88pt;width:100%"><div><font><br></font></div><div style="padding-left:108pt;text-indent:36pt"><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document&#59; or</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">(iii) &#160;&#160;&#160;&#160;the variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of any EEA Resolution Authority.</font></div><div style="margin-top:2pt;text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">Section 9.23.&#160;&#160;&#160;&#160; </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Acknowledgement Regarding Any Supported QFCs</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">.  To the extent that the Loan Documents provide support, through a guarantee or otherwise, for Hedge Agreements or any other agreement or instrument that is a QFC (such support &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">QFC Credit Support</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221; and each such QFC a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Supported QFC</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;), the parties acknowledge and agree as follows with respect to the resolution power of the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act (together with th</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">e regulations promulgated thereunder, the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%;text-decoration:underline">U.S. Special Resolution Regimes</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;) in respect of such Supported QFC and QFC Credit Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported QFC may in fact be stated to be governed by the laws of the State of New York and&#47;or of the United States or any other state of the United States)&#58;</font></div><div><font><br></font></div><div style="text-indent:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">In the event a Covered Entity that is party to a Supported QFC (each, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Covered Party</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#8221;) becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC Credit Support) from such Covered Party will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support (and any such interest, obligation and rights in property) were governed by the laws of the United States or a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were governed by the laws of the United States or a state of the United States. Without limitation of the foregoing, it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall in no event affect the rights of any Covered Party under a Supported QFC or any QFC Credit Support.</font></div><div style="text-indent:18pt"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%"> &#91;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Signature Pages </font><font style="color:#ff0000;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:line-through">Follow</font><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Intentionally Omitted</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">&#93;</font></div><div><font><br></font></div><div style="height:74.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:11pt;font-weight:400;line-height:120%">-185-</font></div><div><font><br></font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>exhibit3113q25.htm
<DESCRIPTION>EX-31.1
<TEXT>
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<title>Document</title></head><body><div id="ia183bfd5828d468fbedba2d72dd02fe1_1"></div><div style="min-height:48.24pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 31.1</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">CERTIFICATION<br>PURSUANT TO 17 CFR 240.13a-14 <br>PROMULGATED UNDER<br>SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">I, Katharine A. Keenan, certify that&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">I have reviewed this quarterly report on Form 10-Q of Blackstone Mortgage Trust, Inc.&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">3.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">4.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles&#59;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(c)&#160;&#160;&#160;&#160;Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(d)&#160;&#160;&#160;&#160;Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">5. &#160;&#160;&#160;&#160;The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions)&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information&#59; and </font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; October 29, 2025</font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="padding-left:288pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Katharine A. Keenan                 &#160;&#160;               </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><br>Katharine A. Keenan<br>Chief Executive Officer</font></div><div style="height:61.2pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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<TYPE>EX-31.2
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<title>Document</title></head><body><div id="ia1c0d7348fb14454b1d713a3d14d8742_1"></div><div style="min-height:53.28pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 31.2</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">CERTIFICATION<br>PURSUANT TO 17 CFR 240.13a-14 <br>PROMULGATED UNDER<br>SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">I, Anthony F. Marone, Jr., certify that&#58;</font></div><div><font><br></font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">1.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">I have reviewed this quarterly report on Form 10-Q of Blackstone Mortgage Trust, Inc.&#59;</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">2.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">3.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report&#59; </font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">4.</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;padding-left:10.5pt">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared&#59;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles&#59;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(c)&#160;&#160;&#160;&#160;Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation&#59; and</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(d)&#160;&#160;&#160;&#160;Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s most recent fiscal quarter (the registrant&#8217;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting&#59; and</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">5. &#160;&#160;&#160;&#160;The registrant&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions)&#58;</font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(a)&#160;&#160;&#160;&#160;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize and report financial information&#59; and </font></div><div style="margin-bottom:12pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">(b)&#160;&#160;&#160;&#160;Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; October 29, 2025</font></div><div style="padding-left:288pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Anthony F. Marone, Jr.                            </font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"><br>Anthony F. Marone, Jr.<br>Chief Financial Officer</font></div><div style="height:45.36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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<TYPE>EX-32.1
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<html><head>
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<title>Document</title></head><body><div id="i6a9af4165b054681934bdf7d3708d3e8_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:10pt"><font><br></font></div></div><div style="margin-bottom:5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 32.1</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">CERTIFICATION PURSUANT TO <br>18 U.S.C. SECTION 1350, <br>AS ADOPTED PURSUANT TO <br>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></div><div style="margin-bottom:5pt;margin-top:5pt"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">In connection with the Quarterly Report of Blackstone Mortgage Trust, Inc. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) on Form 10-Q for the period ended September 30, 2025 as filed with the Securities and Exchange Commission on the date hereof (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Report</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), I, Katharine A. Keenan, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:63pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">1.&#160;&#160;&#160;&#160;The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934&#59; and</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:63pt;text-align:justify;text-indent:-27pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">2.&#160;&#160;&#160;&#160;The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;padding-right:18pt"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;padding-right:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Katharine A. Keenan          &#160;          &#160;          <br></font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Katharine A. Keenan<br>Chief Executive Officer<br>October 29, 2025</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;padding-right:18pt"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">This certification accompanies each Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">A signed original of this written statement required by Section 906 has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</font></div><div style="margin-bottom:5pt;margin-top:5pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font><br></font></div></div></div></body></html>
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<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>6
<FILENAME>exhibit3223q25.htm
<DESCRIPTION>EX-32.2
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<html><head>
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<title>Document</title></head><body><div id="i960cb9e598014b04a3a2e5ce4fe4f6d2_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:10pt"><font><br></font></div></div><div style="margin-bottom:5pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Exhibit 32.2</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">CERTIFICATION PURSUANT TO <br>18 U.S.C. SECTION 1350, <br>AS ADOPTED PURSUANT TO <br>SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002</font></div><div style="margin-bottom:5pt;margin-top:5pt;text-align:center"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">In connection with the Quarterly Report of Blackstone Mortgage Trust, Inc. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Company</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;) on Form 10-Q for the period ended September 30, 2025 as filed with the Securities and Exchange Commission on the date hereof (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Report</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#8221;), I, Anthony F. Marone, Jr., Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that&#58;</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">1.&#160;&#160;&#160;&#160;The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934&#59; and</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">2.&#160;&#160;&#160;&#160;The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-right:18pt"><font><br></font></div><div style="padding-left:18pt;padding-right:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"> &#47;s&#47; Anthony F. Marone, Jr.                   &#160;&#160;&#160;   &#160;&#160;&#160;</font></div><div style="padding-left:18pt;padding-right:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Anthony F. Marone, Jr.<br>Chief Financial Officer<br>October 29, 2025</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;padding-right:18pt"><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">This certification accompanies each Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.</font></div><div style="padding-left:18pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">A signed original of this written statement required by Section 906 has been provided by the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</font></div><div style="margin-bottom:10pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="margin-bottom:10pt;text-align:center"><font><br></font></div></div></div></body></html>
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  <xs:element id="bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff" abstract="false" name="FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" abstract="false" name="FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" abstract="false" name="FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" abstract="true" name="FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" abstract="false" name="FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" abstract="false" name="FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" abstract="false" name="FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IndustrialMember" abstract="true" name="IndustrialMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_HospitalityMember" abstract="true" name="HospitalityMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_SelfStorageMember" abstract="true" name="SelfStorageMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LifeSciencesStudioMember" abstract="true" name="LifeSciencesStudioMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UnitedStatesSunbeltMember" abstract="true" name="UnitedStatesSunbeltMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UnitedStatesNortheastMember" abstract="true" name="UnitedStatesNortheastMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UnitedStatesWestMember" abstract="true" name="UnitedStatesWestMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UnitedStatesMidwestMember" abstract="true" name="UnitedStatesMidwestMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UnitedStatesNorthwestMember" abstract="true" name="UnitedStatesNorthwestMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_OtherEuropeMember" abstract="true" name="OtherEuropeMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_OtherInternationalMember" abstract="true" name="OtherInternationalMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LoanExposureRiskMember" abstract="true" name="LoanExposureRiskMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_FinancingReceivablesMember" abstract="true" name="FinancingReceivablesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldAxis" abstract="true" name="LoanParticipationsSoldAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldDomain" abstract="true" name="LoanParticipationsSoldDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_JuniorLoanParticipationMember" abstract="true" name="JuniorLoanParticipationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" abstract="false" name="FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" abstract="false" name="FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LoanParticipationLiabilitiesPrincipalAmount" abstract="false" name="LoanParticipationLiabilitiesPrincipalAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RiskRatingOneMember" abstract="true" name="RiskRatingOneMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RiskRatingTwoMember" abstract="true" name="RiskRatingTwoMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RiskRatingThreeMember" abstract="true" name="RiskRatingThreeMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RiskRatingFourMember" abstract="true" name="RiskRatingFourMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RiskRatingFiveMember" abstract="true" name="RiskRatingFiveMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ImpairedLoansMember" abstract="true" name="ImpairedLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_AssetSpecificCECLReservesMember" abstract="true" name="AssetSpecificCECLReservesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_GeneralCECLReservesMember" abstract="true" name="GeneralCECLReservesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_NumberOfLoansAxis" abstract="true" name="NumberOfLoansAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_NumberOfLoansDomain" abstract="true" name="NumberOfLoansDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A12LoansMember" abstract="true" name="A12LoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_MixedUseAssetMember" abstract="true" name="MixedUseAssetMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturityLoanOneMember" abstract="true" name="ExtendedMaturityLoanOneMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturityLoanTwoMember" abstract="true" name="ExtendedMaturityLoanTwoMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturityLoanThreeMember" abstract="true" name="ExtendedMaturityLoanThreeMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturityLoanFourMember" abstract="true" name="ExtendedMaturityLoanFourMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturityLoanFiveMember" abstract="true" name="ExtendedMaturityLoanFiveMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ExtendedMaturitySeniorLoansMember" abstract="true" name="ExtendedMaturitySeniorLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_FinancingReceivableWeightedAverageRiskRating" abstract="false" name="FinancingReceivableWeightedAverageRiskRating" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" abstract="false" name="FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" abstract="false" name="FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableModifiedNumberOfContracts" abstract="false" name="FinancingReceivableModifiedNumberOfContracts" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" abstract="false" name="FinancingReceivableModifiedOffBalanceSheetLiability" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" abstract="false" name="FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" abstract="false" name="FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_USLoansMember" abstract="true" name="USLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_NonUSLoansMember" abstract="true" name="NonUSLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_UniqueLoansMember" abstract="true" name="UniqueLoansMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A7RealEstateOwnedAssetsMember" abstract="true" name="A7RealEstateOwnedAssetsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RealEstateOwnedNumberOfAssets" abstract="false" name="RealEstateOwnedNumberOfAssets" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_RealEstateOwnedConsiderationTransferred" abstract="false" name="RealEstateOwnedConsiderationTransferred" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" abstract="false" name="LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" abstract="false" name="BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" abstract="false" name="IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" abstract="false" name="OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_ChicagoILMember" abstract="true" name="ChicagoILMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_AtlantaGAMember" abstract="true" name="AtlantaGAMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_NewYorkNYMember" abstract="true" name="NewYorkNYMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A3RealEstateOwnedAssetMember" abstract="true" name="A3RealEstateOwnedAssetMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RealEstateAcquiredThroughForeclosureGross" abstract="false" name="RealEstateAcquiredThroughForeclosureGross" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" abstract="false" name="BuildingAndBuildingImprovementsAcquiredThroughForeclosure" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" abstract="false" name="LandAndSiteImprovementsAcquiredThroughForeclosure" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" abstract="false" name="RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" abstract="false" name="IntangibleRealEstateAcquiredThroughForeclosureGross" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" abstract="false" name="IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" abstract="false" name="IntangibleRealEstateAcquiredThroughForeclosureNet" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" abstract="false" name="IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" abstract="false" name="IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" abstract="false" name="IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateOwnedRentalIncome" abstract="false" name="RealEstateOwnedRentalIncome" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateOwnedOtherIncome" abstract="false" name="RealEstateOwnedOtherIncome" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateOwnedOperatingExpenses" abstract="false" name="RealEstateOwnedOperatingExpenses" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" abstract="false" name="RealEstateOwnedDepreciationAndAmortizationExpense" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_RealEstateOwnedIncomeLoss" abstract="false" name="RealEstateOwnedIncomeLoss" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" abstract="false" name="LessorOperatingLeasePaymentToBeReceivedAfterYearFour" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" abstract="false" name="FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" abstract="false" name="BelowMarketLeaseAmortizationIncomeAfterYearFour" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" abstract="true" name="EquityMethodInvestmentsCarriedAtHistoricalCostMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" abstract="true" name="EquityMethodInvestmentsCarriedAtFairValueMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_BankLoanPortfolioJointVentureMember" abstract="true" name="BankLoanPortfolioJointVentureMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_BankLoanPortfolioJointVenture1Member" abstract="true" name="BankLoanPortfolioJointVenture1Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_BankLoanPortfolioJointVenture2Member" abstract="true" name="BankLoanPortfolioJointVenture2Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_EquityMethodInvestmentsNumberOfProperties" abstract="false" name="EquityMethodInvestmentsNumberOfProperties" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" abstract="true" name="InvestmentsInUnconsolidatedEntitiesRollForward" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_EquityMethodInvestmentsContribution" abstract="false" name="EquityMethodInvestmentsContribution" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" abstract="false" name="LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" abstract="false" name="AccountsReceivableNetCurrentAndOtherAssetsCurrent" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_CashCollateralForCollateralizedLoanObligations" abstract="false" name="CashCollateralForCollateralizedLoanObligations" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_SecuredDebtRepaymentsPendingServicerRemittance" abstract="false" name="SecuredDebtRepaymentsPendingServicerRemittance" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_OtherRealEstateLiabilities" abstract="false" name="OtherRealEstateLiabilities" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_SecuredCreditFacilityMember" abstract="true" name="SecuredCreditFacilityMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_DebtInstrumentNumberOfLenders" abstract="false" name="DebtInstrumentNumberOfLenders" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" abstract="false" name="DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" abstract="false" name="DebtInstrumentCovenantTangibleNetWorthMinimum" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" abstract="false" name="DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantCashLiquidityMinimum" abstract="false" name="DebtInstrumentCovenantCashLiquidityMinimum" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" abstract="false" name="DebtInstrumentCovenantRecourseIndebtednessMaximum" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantIndebtednessMaximum" abstract="false" name="DebtInstrumentCovenantIndebtednessMaximum" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_ScheduleOfSecuredCreditFacilitiesTable" abstract="true" name="ScheduleOfSecuredCreditFacilitiesTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" abstract="true" name="ScheduleOfSecuredCreditFacilitiesLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_DebtInstrumentNumberOfLoans" abstract="false" name="DebtInstrumentNumberOfLoans" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_LineOfCreditFacilityRecourseLimitationPercent" abstract="false" name="LineOfCreditFacilityRecourseLimitationPercent" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" abstract="true" name="ScheduleOfAllInCostOfSecuredCreditFacilitiesTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_VariableRateSpreadAxis" abstract="true" name="VariableRateSpreadAxis" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_VariableRateSpreadDomain" abstract="true" name="VariableRateSpreadDomain" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A1.50OrLessMember" abstract="true" name="A1.50OrLessMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A1.51To1.75Member" abstract="true" name="A1.51To1.75Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A1.76To2.00Member" abstract="true" name="A1.76To2.00Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2.01OrMoreMember" abstract="true" name="A2.01OrMoreMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" abstract="true" name="ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_LineOfCreditFacilityWeightedAverageAllInCost" abstract="false" name="LineOfCreditFacilityWeightedAverageAllInCost" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_DebtInstrumentWeightedAverageAllInYield" abstract="false" name="DebtInstrumentWeightedAverageAllInYield" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" abstract="true" name="A2025FL5SeniorCollateralizedLoanObligationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2025FL5UnderlyingCollateralAssetsMember" abstract="true" name="A2025FL5UnderlyingCollateralAssetsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" abstract="true" name="A2021FL4SeniorCollateralizedLoanObligationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2021FL4UnderlyingCollateralAssetsMember" abstract="true" name="A2021FL4UnderlyingCollateralAssetsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" abstract="true" name="A2020FL3SeniorCollateralizedLoanObligationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2020FL3UnderlyingCollateralAssetsMember" abstract="true" name="A2020FL3UnderlyingCollateralAssetsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2020FL2SeniorCollateralizedLoanObligationMember" abstract="true" name="A2020FL2SeniorCollateralizedLoanObligationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_A2020FL2UnderlyingCollateralAssetsMember" abstract="true" name="A2020FL2UnderlyingCollateralAssetsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LongTermDebtNumberOfLoans" abstract="false" name="LongTermDebtNumberOfLoans" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_DebtInstrumentCollateralAmountNumberOfLoans" abstract="false" name="DebtInstrumentCollateralAmountNumberOfLoans" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_DebtInstrumentCollateralAmountFaceAmount" abstract="false" name="DebtInstrumentCollateralAmountFaceAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" abstract="false" name="DebtSecuritizedObligationWeightedAverageCostOverVariableRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_SecuritizedDebtObligationsYieldRate" abstract="false" name="SecuritizedDebtObligationsYieldRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" abstract="false" name="DebtAssetSpecificWeightedAverageCostOverVariableRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" abstract="false" name="DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldTable" abstract="true" name="LoanParticipationsSoldTable" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_TotalJuniorLoanParticipationMember" abstract="true" name="TotalJuniorLoanParticipationMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldMember" abstract="true" name="LoanParticipationsSoldMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldLineItems" abstract="true" name="LoanParticipationsSoldLineItems" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType"/>
  <xs:element id="bxmt_NumberOfLoanParticipationsSold" abstract="false" name="NumberOfLoanParticipationsSold" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldTotalLoan" abstract="false" name="LoanParticipationsSoldTotalLoan" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldLiabilitiesAmount" abstract="false" name="LoanParticipationsSoldLiabilitiesAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldTotalLoanAmount" abstract="false" name="LoanParticipationsSoldTotalLoanAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_ParticipationsSoldLoanYield" abstract="false" name="ParticipationsSoldLoanYield" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_B1TermLoanDue2026Member" abstract="true" name="B1TermLoanDue2026Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_B4TermLoanDue2029Member" abstract="true" name="B4TermLoanDue2029Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_B5TermLoanDue2028Member" abstract="true" name="B5TermLoanDue2028Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_B6TermLoanDue2030Member" abstract="true" name="B6TermLoanDue2030Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_B7TermLoanDue2029Member" abstract="true" name="B7TermLoanDue2029Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_SeniorSecuredNotesDue2027Member" abstract="true" name="SeniorSecuredNotesDue2027Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_DebtInstrumentAmortizationPercentage" abstract="false" name="DebtInstrumentAmortizationPercentage" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" abstract="false" name="DebtInstrumentRepurchaseWeightedAveragePricePercentage" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" abstract="false" name="DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" abstract="true" name="SecuredOvernightFinancingRateSOFRAllInCostMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_DebtInstrumentVariableRateFloor" abstract="false" name="DebtInstrumentVariableRateFloor" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_SeniorSecuredNotesDue2029Member" abstract="true" name="SeniorSecuredNotesDue2029Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" abstract="false" name="DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:pureItemType"/>
  <xs:element id="bxmt_ConvertibleSeniorNotesDue2027Member" abstract="true" name="ConvertibleSeniorNotesDue2027Member" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" abstract="false" name="DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" abstract="true" name="ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" abstract="true" name="ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" abstract="true" name="ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" abstract="true" name="ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" abstract="false" name="GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" abstract="false" name="OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" abstract="false" name="OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" abstract="false" name="PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_UnconsolidatedEntitiesMember" abstract="true" name="UnconsolidatedEntitiesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_CommonAndPreferredStockSharesAuthorized" abstract="false" name="CommonAndPreferredStockSharesAuthorized" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" abstract="false" name="DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" abstract="false" name="DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="bxmt_SaleOfStockNumberOfEquityDistributionAgreements" abstract="false" name="SaleOfStockNumberOfEquityDistributionAgreements" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_SaleOfStockMaximumAuthorizedAmount" abstract="false" name="SaleOfStockMaximumAuthorizedAmount" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_SaleOfStockRemainingAuthorizedAmount" abstract="false" name="SaleOfStockRemainingAuthorizedAmount" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_DeferredStockUnitsMember" abstract="true" name="DeferredStockUnitsMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" abstract="false" name="CommonStockSharesOutstandingIncludingDeferredStockUnits" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" abstract="false" name="StockIssuedDuringPeriodSharesDeferredStockUnits" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType"/>
  <xs:element id="bxmt_ManagementFeeCoreEarningsFeePercentage" abstract="false" name="ManagementFeeCoreEarningsFeePercentage" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_ManagementFeeCoreEarningsMeasurementPeriod" abstract="false" name="ManagementFeeCoreEarningsMeasurementPeriod" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="bxmt_ManagementFeeCoreEarningsMinimumThreshold" abstract="false" name="ManagementFeeCoreEarningsMinimumThreshold" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:percentItemType"/>
  <xs:element id="bxmt_AccruedManagementAndIncentiveFeesPayable" abstract="false" name="AccruedManagementAndIncentiveFeesPayable" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" abstract="false" name="GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_DirectorShareBasedPaymentArrangementExpense" abstract="false" name="DirectorShareBasedPaymentArrangementExpense" nillable="true" xbrli:periodType="duration" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" abstract="false" name="OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" abstract="false" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_CashAndCashEquivalents" abstract="false" name="CashAndCashEquivalents" nillable="true" xbrli:periodType="instant" xbrli:balance="debit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_LoanParticipationsSoldLiabilitiesFairValue" abstract="false" name="LoanParticipationsSoldLiabilitiesFairValue" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
  <xs:element id="bxmt_FinancingReceivableNumberOfLoansModified" abstract="false" name="FinancingReceivableNumberOfLoansModified" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType"/>
  <xs:element id="bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" abstract="true" name="BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" abstract="true" name="BXMTAdvisorsLimitedLiabilityCompanyMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
  <xs:element id="bxmt_RelatedPartyTransactionRenewalTerm" abstract="false" name="RelatedPartyTransactionRenewalTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType"/>
  <xs:element id="bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" abstract="false" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" nillable="true" xbrli:periodType="duration" xbrli:balance="credit" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType"/>
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  <xs:element id="bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" abstract="true" name="BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="dtr-types:domainItemType"/>
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</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>bxmt-20250930_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
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<TYPE>EX-101.LAB
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<FILENAME>bxmt-20250930_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuritizedDebtObligationsYieldRate" xlink:href="bxmt-20250930.xsd#bxmt_SecuritizedDebtObligationsYieldRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuritizedDebtObligationsYieldRate" xlink:to="lab_bxmt_SecuritizedDebtObligationsYieldRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_6d989087-7b25-4035-bc61-e5ae756ae847_terseLabel_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_label_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Stock Units [Member]</link:label>
    <link:label id="lab_bxmt_DeferredStockUnitsMember_documentation_en-US" xlink:label="lab_bxmt_DeferredStockUnitsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DeferredStockUnitsMember" xlink:href="bxmt-20250930.xsd#bxmt_DeferredStockUnitsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DeferredStockUnitsMember" xlink:to="lab_bxmt_DeferredStockUnitsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined</link:label>
    <link:label id="lab_ecd_AwardTmgPredtrmndFlag_label_en-US" xlink:label="lab_ecd_AwardTmgPredtrmndFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Predetermined [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgPredtrmndFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgPredtrmndFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgPredtrmndFlag" xlink:to="lab_ecd_AwardTmgPredtrmndFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_1c9d402e-95f1-4224-bac2-974663046f12_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_50b23f69-5eb8-47b7-b7cf-beddc110b50e_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-In Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TabularListTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tabular List, Table</link:label>
    <link:label id="lab_ecd_TabularListTableTextBlock_label_en-US" xlink:label="lab_ecd_TabularListTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tabular List [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TabularListTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TabularListTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TabularListTableTextBlock" xlink:to="lab_ecd_TabularListTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ae533d0-8650-48cb-a0f5-4d57c2cd3882_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedStockExpense_07b5af51-4d3b-444e-9bf5-a27837e56a03_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted class A common stock earned</link:label>
    <link:label id="lab_us-gaap_RestrictedStockExpense_label_en-US" xlink:label="lab_us-gaap_RestrictedStockExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock or Unit Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedStockExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedStockExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockExpense" xlink:to="lab_us-gaap_RestrictedStockExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_c814e206-c57c-477a-9b5a-98a3271c3c1a_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Incurred Amounts by Related Parties</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrMember_b7c5d086-be8e-40a3-9568-9d0a2e1bae40_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SOFR</link:label>
    <link:label id="lab_us-gaap_SecuredOvernightFinancingRateSofrMember_label_en-US" xlink:label="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredOvernightFinancingRateSofrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:to="lab_us-gaap_SecuredOvernightFinancingRateSofrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_95dc7ce5-2784-449b-8207-5e8c76912193_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Count</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_4de7a2e3-efd0-409e-bcf6-b468ddfdb258_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Number Of Loans</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCollateralAmountNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:to="lab_bxmt_DebtInstrumentCollateralAmountNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_3f97e3c5-4775-499a-9de1-2b450192facd_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Details of Carrying Amount, Face Amount, and Fair Value of Financial Instruments</link:label>
    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByBalanceSheetGroupingTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_848f0662-2ca4-446d-aeb9-d652bdadee59_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum guarantee</link:label>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantor Obligations, Maximum Exposure, Undiscounted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GuaranteeObligationsMaximumExposure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="lab_us-gaap_GuaranteeObligationsMaximumExposure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable_217789b5-0a32-473d-b848-4e26754ca71a_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal collections, sales proceeds, and cost-recovery proceeds from loans receivable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale and Collection of Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:to="lab_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAxis_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation:</link:label>
    <link:label id="lab_ecd_AdjToCompAxis_label_en-US" xlink:label="lab_ecd_AdjToCompAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAxis" xlink:to="lab_ecd_AdjToCompAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_a266f2a6-130b-4161-be9e-eb250b4857b6_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transactions With Related Parties</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherEuropeMember_423d622d-e421-4a78-9acf-152b9cecb927_terseLabel_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Europe</link:label>
    <link:label id="lab_bxmt_OtherEuropeMember_label_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Europe [Member]</link:label>
    <link:label id="lab_bxmt_OtherEuropeMember_documentation_en-US" xlink:label="lab_bxmt_OtherEuropeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Europe.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherEuropeMember" xlink:href="bxmt-20250930.xsd#bxmt_OtherEuropeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherEuropeMember" xlink:to="lab_bxmt_OtherEuropeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote</link:label>
    <link:label id="lab_ecd_NamedExecutiveOfficersFnTextBlock_label_en-US" xlink:label="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Named Executive Officers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NamedExecutiveOfficersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NamedExecutiveOfficersFnTextBlock" xlink:to="lab_ecd_NamedExecutiveOfficersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ImpairedLoansMember_2fbe3045-203e-465d-9726-02ac5a45d58a_terseLabel_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impaired loans</link:label>
    <link:label id="lab_bxmt_ImpairedLoansMember_label_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impaired Loans [Member]</link:label>
    <link:label id="lab_bxmt_ImpairedLoansMember_documentation_en-US" xlink:label="lab_bxmt_ImpairedLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impaired Loans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ImpairedLoansMember" xlink:href="bxmt-20250930.xsd#bxmt_ImpairedLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ImpairedLoansMember" xlink:to="lab_bxmt_ImpairedLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_353b94ae-e90b-4697-b996-491b576fe511_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock, Class of Stock [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfStockByClassTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_71ce61f7-c821-4d85-8698-08df08908b81_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, minimum tangible net worth</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Tangible Net Worth, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Tangible Net Worth, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CorporateJointVentureMember_cd4eac57-79a4-48ed-b832-bf446218033a_terseLabel_en-US" xlink:label="lab_us-gaap_CorporateJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint Venture</link:label>
    <link:label id="lab_us-gaap_CorporateJointVentureMember_label_en-US" xlink:label="lab_us-gaap_CorporateJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Joint Venture [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CorporateJointVentureMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CorporateJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateJointVentureMember" xlink:to="lab_us-gaap_CorporateJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_90d49622-c8ae-4fa5-bda8-f42274a3876d_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of restricted class A common stock, net (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_70b31f05-945c-4831-ab40-9b83bcf39a49_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Loan repayments, sales, and cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_label_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:to="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_01542b26-37e6-4fb2-a44c-1c29174d0c84_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell GBP Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_d0cbbe64-549e-489a-94d2-1da4ddbf00b0_netLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell GBP Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Great Britain Pound [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Great Britain Pound.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward_a973aaea-b6b9-47ae-8caa-014cab088dad_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation, Amount</link:label>
    <link:label id="lab_ecd_AdjToCompAmt_label_en-US" xlink:label="lab_ecd_AdjToCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToCompAmt" xlink:to="lab_ecd_AdjToCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_2f0d321b-c185-4de3-9603-9282677e9703_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Loan Exposure Percentage of Portfolio</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskPercentage1_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskPercentage1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskPercentage1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskPercentage1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskPercentage1" xlink:to="lab_us-gaap_ConcentrationRiskPercentage1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_79026f29-ab01-44c5-91ce-0796951a6385_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs and unamortized discount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_619a880a-5a03-4f2d-81aa-80a1b893a2e7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs and unamortized discounts</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputCapRateMember_9dd72051-2d1f-4d86-b660-6df971295259_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputCapRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputCapRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputCapRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Cap Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputCapRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputCapRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputCapRateMember" xlink:to="lab_us-gaap_MeasurementInputCapRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_3f73947a-d292-463e-b89a-0c8fb3f20ff3_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_c60384a9-d145-437b-b6ef-cb5f7622cc55_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principles of Consolidation</link:label>
    <link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConsolidationPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensation_6f2c86db-b5c6-4c27-8fc9-3fcadff9639b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_5b5d049d-5f79-4462-b1ec-46474125ef1e_totalLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation" xlink:to="lab_us-gaap_ShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee Stock Option</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Option [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeStockOptionMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EmployeeStockOptionMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember" xlink:to="lab_us-gaap_EmployeeStockOptionMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_9c8315d0-4371-4b5e-b82c-92491b0b69dc_terseLabel_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2021 FL4 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20250930.xsd#bxmt_A2021FL4SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2021FL4SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_5ab97202-61d6-4b88-a692-2b599b2df1f3_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="lab_us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquity_cb91f290-7db0-43b1-9312-7254ffdb4fdf_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Blackstone Mortgage Trust, Inc. stockholders&#8217; equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity" xlink:to="lab_us-gaap_StockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_ffa1b20a-b049-4a5c-af16-5c43563e433b_terseLabel_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common shares reserved for issuance (in shares)</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_label_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Shares Authorized</link:label>
    <link:label id="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized_documentation_en-US" xlink:label="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Reinvestment And Direct Stock Purchase Plan, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:href="bxmt-20250930.xsd#bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:to="lab_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_e74dfde8-6b02-4a02-9ddc-7e1339c67774_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByMeasurementFrequencyAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByMeasurementFrequencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:to="lab_us-gaap_FairValueByMeasurementFrequencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingPoliciesProcLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingPoliciesProcLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingPoliciesProcLineItems" xlink:to="lab_ecd_InsiderTradingPoliciesProcLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_dc819d03-3ae6-4347-9582-0cafe7fab8f2_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensation_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensation" xlink:href="bxmt-20250930.xsd#bxmt_AnnualDirectorCompensation"/>
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    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_0f230898-5a9c-4592-8e44-8ce653a49865_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized" xlink:to="lab_us-gaap_CommonStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost_f1d72dee-3321-47dc-aa91-3a4a7f80bcf1_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All-in cost</link:label>
    <link:label id="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost_label_en-US" xlink:label="lab_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage Including Amortization Cost</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost"/>
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    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_f1a74277-b648-4a80-bae2-76bd1cb1cab4_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_199214e9-505f-4088-970f-6852a0142372_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_1ecd96bc-fb7d-4864-a022-310d6069127a_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Issuance of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_29780401-66dd-4188-b8e3-e0bda3e8bca8_totalLabel_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from loans and other investments, net</link:label>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_label_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest And Fee Income, Loans And Leases, Net Of Interest Expense, Operating</link:label>
    <link:label id="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating_documentation_en-US" xlink:label="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest And Fee Income, Loans And Leases, Net Of Interest Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:href="bxmt-20250930.xsd#bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:to="lab_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_9cd5f403-4469-4670-86b8-5c1261779af5_terseLabel_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of assets in special servicing under CLOs</link:label>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_label_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Number Of Assets</link:label>
    <link:label id="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets_documentation_en-US" xlink:label="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Collateralized Loan Obligations, Number Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:href="bxmt-20250930.xsd#bxmt_CollateralizedLoanObligationsNumberOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:to="lab_bxmt_CollateralizedLoanObligationsNumberOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_f8b5605e-4343-41ed-8b07-456bd0180787_terseLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of stock</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_label_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding, Percentage</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingPercentage_documentation_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonStockSharesOutstandingPercentage" xlink:href="bxmt-20250930.xsd#bxmt_CommonStockSharesOutstandingPercentage"/>
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    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_7ee3c8d5-3ef5-4785-8c42-2f589232345a_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CoverAbstract_c03a9a5c-c005-4bda-8c13-fd5dc3273cab_terseLabel_en-US" xlink:label="lab_dei_CoverAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cover [Abstract]</link:label>
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    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_6d04c426-d966-4216-ae4f-dcadb9a6d0f4_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, fair value</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:to="lab_us-gaap_CashAndCashEquivalentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_a7f1752d-855f-415f-8224-8b5545d99bd8_terseLabel_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Junior Loan Participation</link:label>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Junior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_JuniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_JuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Junior Loan Participation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_JuniorLoanParticipationMember" xlink:href="bxmt-20250930.xsd#bxmt_JuniorLoanParticipationMember"/>
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    <link:label id="lab_srt_MaximumMember_6d6ad36b-6bcd-4e3f-b41c-c4c053e24eb3_terseLabel_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum</link:label>
    <link:label id="lab_srt_MaximumMember_label_en-US" xlink:label="lab_srt_MaximumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MaximumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MaximumMember" xlink:to="lab_srt_MaximumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_b4f9b809-aeaa-4c1c-8435-db5cf10b252f_verboseLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Transfer of senior loan to real estate owned</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_c7892ee4-b76a-425c-b864-ee01e2088f40_negatedLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Transfer to real estate owned</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_d5f5080b-ef06-421a-83e9-623904fa951c_negatedNetLabel_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Transfer to real estate owned</link:label>
    <link:label id="lab_us-gaap_TransferToOtherRealEstate_label_en-US" xlink:label="lab_us-gaap_TransferToOtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Transfer to Real Estate Owned</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TransferToOtherRealEstate" xlink:to="lab_us-gaap_TransferToOtherRealEstate" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_f64c03a3-8bbf-463c-95ba-69cd6354ea60_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below Market Lease, Future Amortization Income</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Future Amortization Income [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_b6b7bc7a-ac44-4106-b5ed-47271db2bd34_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentCollateralAmount_082f7359-b1c5-4bd6-b782-25981769ecb4_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCollateralAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Book Value, collateral assets</link:label>
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    <link:label id="lab_us-gaap_RestrictedStockMember_e26bcfc3-429d-4ddb-a2cf-113ed590ecbd_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_RestrictedStockMember_label_en-US" xlink:label="lab_us-gaap_RestrictedStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Stock [Member]</link:label>
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    <link:label id="lab_us-gaap_DebtInstrumentLineItems_b0440a42-862a-44b7-b10f-3518a617d904_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems" xlink:to="lab_us-gaap_DebtInstrumentLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_62f46996-e13b-4a3f-b281-becc3071c824_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable"/>
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    <link:label id="lab_bxmt_WalkerDunlopMember_eefafab5-2dbc-4d51-a702-daa3254abc7e_terseLabel_en-US" xlink:label="lab_bxmt_WalkerDunlopMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Walker &amp; Dunlop</link:label>
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    <link:label id="lab_bxmt_WalkerDunlopMember_documentation_en-US" xlink:label="lab_bxmt_WalkerDunlopMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Walker &amp; Dunlop.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_WalkerDunlopMember" xlink:href="bxmt-20250930.xsd#bxmt_WalkerDunlopMember"/>
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    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_0a4fb6a6-da4a-4987-b75f-b97c5b650f79_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Movement in Outstanding Shares of Restricted Class A Common Stock and Weighted-Average Grant Date Fair Value Per Share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock"/>
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    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote</link:label>
    <link:label id="lab_ecd_AdjToNonPeoNeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Non-PEO NEO Compensation Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToNonPeoNeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:to="lab_ecd_AdjToNonPeoNeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_cf11ed9a-3374-40ac-a3f7-08d42e826c66_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivableRecordedInvestmentCreditQualityIndicatorTable"/>
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    <link:label id="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToDisqualificationOfTaxBenefitsAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Disqualification of Tax Benefits, Amount</link:label>
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    <link:label id="lab_ecd_NonRule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Terminated</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrTrmntdFlag" xlink:to="lab_ecd_NonRule10b51ArrTrmntdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification_4ddf1aa7-9bd0-4ec9-8e49-4d361bce013b_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extension term</link:label>
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    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_022ea44d-7d4a-4b99-9ca3-e53ffaf2cd3d_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income (loss) before income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</link:label>
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    <link:label id="lab_dei_EntityShellCompany_ba73072a-f098-4e55-92ff-464504d79508_terseLabel_en-US" xlink:label="lab_dei_EntityShellCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</link:label>
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    <link:label id="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities_58b2b726-41d9-4873-96e9-cfbe98d499a3_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and other liabilities</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Other Accrued Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:to="lab_us-gaap_AccountsPayableAndOtherAccruedLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentTable_fc7afa94-8227-47bb-8ac3-efbd49d46feb_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt Instruments [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentTable"/>
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    <link:label id="lab_bxmt_RiskRatingOneMember_39bf6a1c-dc1e-4936-a04d-582b42997675_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">1</link:label>
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    <link:label id="lab_bxmt_RiskRatingOneMember_label_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, One [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingOneMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating One [Member]</link:label>
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    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_30f4efbc-6e47-4ded-94f0-80ad804b052c_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
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    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_1e2ed35d-1a48-4996-98d8-da3bdf79a23d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Realized and unrealized gain (loss) on derivative financial instruments</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, after Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax"/>
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    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_07e9fdd0-beca-4ae0-9157-e09e2ad5e141_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income attributable to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiCnsdrdFlag_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Considered [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiCnsdrdFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiCnsdrdFlag" xlink:to="lab_ecd_AwardTmgMnpiCnsdrdFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseOperating_18ff1f1f-80bb-4a54-a78b-b01a4fd1b923_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: Interest and related expenses</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_ac84806f-17aa-4095-8403-84702c1648f8_verboseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_a0d08b7f-9c46-4e43-aca5-e1795a5aeada_netLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Total interest and related expenses presented in the consolidated statements of operations</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOperating_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOperating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Operating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseOperating" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseOperating"/>
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    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_79efc80e-3ee4-4b12-8ee9-15fcafb3e091_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToMinorityShareholders" xlink:to="lab_us-gaap_PaymentsToMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_0f7c2d66-af22-41f2-bf3e-70f6e4fedf12_totalLabel_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_label_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General And Administrative Expense, Excluding Non-Cash Compensation Expense</link:label>
    <link:label id="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense_documentation_en-US" xlink:label="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General And Administrative Expense, Excluding Non-Cash Compensation Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:href="bxmt-20250930.xsd#bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:to="lab_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_6d2c092b-ead9-40ba-a9e9-f4d327efbc08_negatedTotalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Loan repayments, sales, and cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_label_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Before Allowance For Credit Loss, Fee And Loan In Process, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Before Allowance For Credit Loss, Fee And Loan In Process, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:to="lab_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementFeeExpense_f7f111f7-04a4-4457-9e5f-c668de9e40d4_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management and incentive fees</link:label>
    <link:label id="lab_us-gaap_ManagementFeeExpense_c881dfae-0db3-4104-8e97-6b7f8906721e_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_us-gaap_ManagementFeeExpense_label_en-US" xlink:label="lab_us-gaap_ManagementFeeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementFeeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagementFeeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeeExpense" xlink:to="lab_us-gaap_ManagementFeeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_ef028938-05e9-46ed-b78b-f6c49e1760ec_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalPeriodFocus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalPeriodFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus" xlink:to="lab_dei_DocumentFiscalPeriodFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_f5c90ab0-67a7-4103-b74f-43188eb2b4aa_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost-recovery proceeds</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing Method</link:label>
    <link:label id="lab_ecd_AwardTmgMethodTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMethodTextBlock" xlink:to="lab_ecd_AwardTmgMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_7da56adf-4192-41b2-bb7f-6a197110ed84_terseLabel_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. avg. all-in cost (percentage)</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_label_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Weighted Average All-In Cost</link:label>
    <link:label id="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost_documentation_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Weighted Average All-In Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:href="bxmt-20250930.xsd#bxmt_LineOfCreditFacilityWeightedAverageAllInCost"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:to="lab_bxmt_LineOfCreditFacilityWeightedAverageAllInCost" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AwardTypeAxis_db7a28c4-8fdc-466a-ad4a-6e75b12253ab_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AwardTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AwardTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis" xlink:to="lab_us-gaap_AwardTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingRelationshipDomain_b956062a-c7bd-4316-8deb-916a5674c7c6_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingRelationshipDomain_label_en-US" xlink:label="lab_us-gaap_HedgingRelationshipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingRelationshipDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgingRelationshipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingRelationshipDomain" xlink:to="lab_us-gaap_HedgingRelationshipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_062bb226-a3af-4e75-ad8a-db531241be12_terseLabel_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture</link:label>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_label_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_NetLeaseJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_NetLeaseJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Lease Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NetLeaseJointVentureMember" xlink:href="bxmt-20250930.xsd#bxmt_NetLeaseJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NetLeaseJointVentureMember" xlink:to="lab_bxmt_NetLeaseJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_ef02a2b3-523e-41bc-b5a7-b5b4529b1bd2_terseLabel_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_srt_EquityMethodInvesteeNameDomain_label_en-US" xlink:label="lab_srt_EquityMethodInvesteeNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_EquityMethodInvesteeNameDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_EquityMethodInvesteeNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_EquityMethodInvesteeNameDomain" xlink:to="lab_srt_EquityMethodInvesteeNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_ac2a644e-21fd-4fe1-9013-737acc993fb5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Compensation</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:to="lab_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_4d6ccd1d-68b5-4272-8aee-a73f2aa084c9_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_VariableRateSpreadDomain_3b82db29-1e53-4f19-a07c-7b7300b4fef4_terseLabel_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadDomain_label_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadDomain_documentation_en-US" xlink:label="lab_bxmt_VariableRateSpreadDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_VariableRateSpreadDomain" xlink:href="bxmt-20250930.xsd#bxmt_VariableRateSpreadDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_VariableRateSpreadDomain" xlink:to="lab_bxmt_VariableRateSpreadDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_d6566182-f1a9-4cea-8f7e-7064309c79ad_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of REO assets classified as held for sale investment</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets Classified As Held-For-Sale</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets Classified As Held-For-Sale</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:to="lab_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_e5ea680c-ff3a-4e19-9aea-aa2f5dd4b3b8_terseLabel_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities [Roll Forward]</link:label>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_label_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities [Roll Forward]</link:label>
    <link:label id="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward_documentation_en-US" xlink:label="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:href="bxmt-20250930.xsd#bxmt_InvestmentsInUnconsolidatedEntitiesRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:to="lab_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_b6d4e542-e643-4753-8c78-7829626e7b25_periodStartLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_f89ce41e-954c-40ab-b0ef-e847276fd1ae_periodEndLabel_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_label_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Outstanding, Including Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits_documentation_en-US" xlink:label="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Outstanding, Including Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:href="bxmt-20250930.xsd#bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:to="lab_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_13208d6d-e216-42f4-b874-c466768bf3f9_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_d75c0f39-bd78-46a9-bcbb-22c7766bc43a_negatedLabel_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Collateral deposited under derivative agreements</link:label>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments For Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:label id="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities_documentation_en-US" xlink:label="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments For Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:href="bxmt-20250930.xsd#bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:to="lab_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_045c2859-603b-46f1-b8ae-de7c3bfdd309_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:to="lab_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_d33368b7-4a47-44f9-b3b3-b9ad10c2eb9b_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives (in years)</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Useful Life</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedUsefulLife_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedUsefulLife" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Useful Life</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedUsefulLife" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedUsefulLife"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedUsefulLife" xlink:to="lab_bxmt_RealEstateOwnedUsefulLife" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_1354e717-e112-42e6-b1b8-f1ed59aec5c0_terseLabel_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of currency translation on cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:label id="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt_label_en-US" xlink:label="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO Average Compensation Actually Paid Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoAvgCompActuallyPaidAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:to="lab_ecd_NonPeoNeoAvgCompActuallyPaidAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_f4b6f718-cad8-4a20-8415-10a5266d60ae_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationDomain_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Income Location, Balance [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementLocationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationDomain" xlink:to="lab_us-gaap_IncomeStatementLocationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansDomain_29b0ae75-09a1-4a59-893f-d0a200941e54_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansDomain_label_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansDomain_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansDomain" xlink:href="bxmt-20250930.xsd#bxmt_NumberOfLoansDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansDomain" xlink:to="lab_bxmt_NumberOfLoansDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_bfdd0c41-550b-463f-a017-1e4611ec750c_terseLabel_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Expected Credit Losses Reserve</link:label>
    <link:label id="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Loss, Financial Instrument [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditLossFinancialInstrumentPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:to="lab_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_9b36d613-0b33-430c-848f-e69ec4edb8ec_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from issuance of securitized debt obligations</link:label>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_label_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance of Collateralized Loan Obligations</link:label>
    <link:label id="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Issuance of Collateralized Loan Obligations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:href="bxmt-20250930.xsd#bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:to="lab_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Other Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsOtherMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsOtherMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B1TermLoanDue2026Member_6f573fcb-d673-4ef5-87ac-cce8a62fd38f_terseLabel_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-1 Term Loan</link:label>
    <link:label id="lab_bxmt_B1TermLoanDue2026Member_label_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-1 Term Loan Due 2026 [Member]</link:label>
    <link:label id="lab_bxmt_B1TermLoanDue2026Member_documentation_en-US" xlink:label="lab_bxmt_B1TermLoanDue2026Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-1 Term Loan Due 2026</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B1TermLoanDue2026Member" xlink:href="bxmt-20250930.xsd#bxmt_B1TermLoanDue2026Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B1TermLoanDue2026Member" xlink:to="lab_bxmt_B1TermLoanDue2026Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_7855fdbf-d053-4b3f-b0b1-a217eb7f7b64_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average price of repurchase</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_3382c37f-a05f-4058-858d-23819d951bc3_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Repurchase weighted-average price, percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_label_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Repurchase Weighted-Average Price, Percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Repurchase Weighted-Average Price, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:to="lab_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_58f6317d-9228-4eee-a891-5cc294046e62_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_4187fc8e-043b-4d2f-9e75-4169fd9204dd_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:to="lab_ecd_ChngInFrValAsOfVstngDtOfPrrYrEqtyAwrdsVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_6a5740e1-c14f-41a7-8691-0390967ee1c8_terseLabel_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment</link:label>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_6311dae4-b64d-4b9f-809c-4b9fc5dc2bea_verboseLabel_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitments</link:label>
    <link:label id="lab_us-gaap_UnfundedLoanCommitmentMember_label_en-US" xlink:label="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unfunded Loan Commitment [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UnfundedLoanCommitmentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnfundedLoanCommitmentMember" xlink:to="lab_us-gaap_UnfundedLoanCommitmentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_ab9ca3e8-d394-4fc4-9942-44bd86bfec1b_negatedLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Issuance Costs, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredFinanceCostsNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredFinanceCostsNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet" xlink:to="lab_us-gaap_DeferredFinanceCostsNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_42a2f200-18b0-41d7-bc8a-4bc962a65469_negatedLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss (gain) on derivative financial instruments, net</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_00d53431-04b1-4c83-8c8c-deada7aa4bd3_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) to Net Interest Income Recognized from Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeGainLossOnDerivativeNet_label_en-US" xlink:label="lab_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Gain (Loss) on Derivative, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeGainLossOnDerivativeNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeGainLossOnDerivativeNet"/>
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    <link:label id="lab_bxmt_NonUSLoansMember_d793b219-bb3e-4f85-a5ce-452a9300122f_terseLabel_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S. Loans</link:label>
    <link:label id="lab_bxmt_NonUSLoansMember_label_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non US Loans [Member]</link:label>
    <link:label id="lab_bxmt_NonUSLoansMember_documentation_en-US" xlink:label="lab_bxmt_NonUSLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non US Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NonUSLoansMember" xlink:href="bxmt-20250930.xsd#bxmt_NonUSLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NonUSLoansMember" xlink:to="lab_bxmt_NonUSLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_56bc4006-50a3-466a-8f2b-fc125aa84d03_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued capital expenditures on real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Capital Expenditures Incurred But Not Yet Paid</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Capital Expenditures Incurred But Not Yet Paid</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:to="lab_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_1001bfa9-acf2-40b5-bd34-6404a22a226a_verboseLabel_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">In-place lease intangibles</link:label>
    <link:label id="lab_us-gaap_LeasesAcquiredInPlaceMember_label_en-US" xlink:label="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leases, Acquired-in-Place [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LeasesAcquiredInPlaceMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeasesAcquiredInPlaceMember" xlink:to="lab_us-gaap_LeasesAcquiredInPlaceMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestIncome_32e5c22c-f1d6-4130-a142-debaf24cf38c_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total net revenues</link:label>
    <link:label id="lab_us-gaap_NoninterestIncome_label_en-US" xlink:label="lab_us-gaap_NoninterestIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncome" xlink:to="lab_us-gaap_NoninterestIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_85422f5e-5872-4ffb-87e0-159f50ac7a31_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding" xlink:to="lab_us-gaap_CommonStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_98f5a35c-4af0-45ed-abd8-27043dec0d55_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 (remaining)</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AgencyMultifamilyLendingPartnershipMember_ad61b9f3-f50f-4cbf-bdc4-2dba04c58c13_terseLabel_en-US" xlink:label="lab_bxmt_AgencyMultifamilyLendingPartnershipMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Agency Multifamily Lending Partnership</link:label>
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    <link:label id="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet_documentation_en-US" xlink:label="lab_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Realized Gains Losses On Derivative Financial Instruments Net</link:label>
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    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_d009b445-e5a6-4d7a-bf08-cb5ab3d4b881_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_NoninterestExpenseAbstract_label_en-US" xlink:label="lab_us-gaap_NoninterestExpenseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestExpenseAbstract"/>
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    <link:label id="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock_008cd288-6a76-4d81-9e8c-372b94b427f4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Movement in Outstanding Shares of Class A Common Stock, Restricted Class A Common Stock and Deferred Stock Units</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock"/>
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    <link:label id="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances_946fd95f-0c54-4423-8c6a-670f962133cd_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, percentage of tangible assets on cash proceeds from equity issuances</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:to="lab_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain_8db796a8-8d8a-4ede-875b-b4e463ef3f19_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentClassOfFinancingReceivableDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Financing Receivable [Domain]</link:label>
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    <link:label id="lab_bxmt_B4TermLoanDue2029Member_5be57ee4-3e94-421f-b61a-347d4572c03f_terseLabel_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-4 Term Loan</link:label>
    <link:label id="lab_bxmt_B4TermLoanDue2029Member_label_en-US" xlink:label="lab_bxmt_B4TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-4 Term Loan Due 2029 [Member]</link:label>
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    <link:label id="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_DvddsOrOthrErngsPdOnEqtyAwrdsNtOthrwsRflctdInTtlCompForCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year</link:label>
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    <link:label id="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue_78c66b94-b75a-4444-bcac-2cdc6977e458_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsCurrentCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantee liability</link:label>
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    <link:label id="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_34f18cc9-077e-43f5-91ba-f26b4ee520a8_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets, Future Amortization Expense</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock"/>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract_acb5c438-992d-4b0f-a651-a63c22b46bcb_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosure [Abstract]</link:label>
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    <link:label id="lab_us-gaap_GeographicDistributionForeignMember_94a0e570-3b1a-458b-a9b6-ec637dfeb87a_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-U.S. loans</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionForeignMember_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionForeignMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Foreign [Member]</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor_927970d9-27bd-47ef-ad24-5a8fd733280d_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average index rate floor</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableWeightedAverageIndexRateFloor"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloor" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember_182a0e41-fbdf-42b2-8c43-84124b81a97e_terseLabel_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, Brio Real Estate (UK) Ltd And Brio Real Estate (AUS) Pty Ltd</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_ffb0b714-498f-45aa-8813-7053558d9cfc_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted Class A Common Stock</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_22e7b411-da55-488a-8945-5fa3da55d678_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All-in cost</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_f33a3072-9255-42b5-b899-938730cec45c_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDeterminationDate_terseLabel_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:label id="lab_ecd_RestatementDeterminationDate_label_en-US" xlink:label="lab_ecd_RestatementDeterminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDeterminationDate" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDeterminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDeterminationDate" xlink:to="lab_ecd_RestatementDeterminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue_8d6d17a4-f661-4aed-addc-fff11ce9fcae_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net, fair value</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Fair Value</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldLiabilitiesFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:to="lab_bxmt_LoanParticipationsSoldLiabilitiesFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_c2fe28f5-b003-402d-a00a-6f496aa9bc37_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Income tax provision</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_8f748b1b-e77d-41ab-9ae5-43761ede8cd1_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan fundings</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_f7870ec1-cb7e-48f8-8f4e-1337c9b1019c_netLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Loan fundings</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireLoansReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireLoansReceivable" xlink:to="lab_us-gaap_PaymentsToAcquireLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_b98475ee-2f8f-4049-b021-06e07d00d878_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rates</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_2ee721f4-6665-4c38-bd2e-633abfb4069e_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate and all-in cost</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherAssets_d8e45e12-d1f5-4402-a873-7b4cfb02229c_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_43f3cccb-b3fa-4c76-94af-f346ba7716bb_totalLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_OtherAssets_b6db4348-3936-477d-aa16-3c6f06c64388_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssets_label_en-US" xlink:label="lab_us-gaap_OtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets" xlink:to="lab_us-gaap_OtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_48e9e37a-05ce-4e19-803d-5d0c7263adc3_terseLabel_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured credit facilities</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_label_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Credit Facility [Member]</link:label>
    <link:label id="lab_bxmt_SecuredCreditFacilityMember_documentation_en-US" xlink:label="lab_bxmt_SecuredCreditFacilityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Credit Facility</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredCreditFacilityMember" xlink:href="bxmt-20250930.xsd#bxmt_SecuredCreditFacilityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredCreditFacilityMember" xlink:to="lab_bxmt_SecuredCreditFacilityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_36b338e5-62f6-4ab6-867e-de4ffddb47f5_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesIssued" xlink:to="lab_us-gaap_PreferredStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsSvcCstMember" xlink:to="lab_ecd_PnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_c7bca157-bb68-43c2-8f63-9d1650611005_terseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Designated Hedges</link:label>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_254a6c93-5818-41d2-a99e-836066d8fc61_verboseLabel_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives designated as hedging instruments</link:label>
    <link:label id="lab_us-gaap_DesignatedAsHedgingInstrumentMember_label_en-US" xlink:label="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Designated as Hedging Instrument [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DesignatedAsHedgingInstrumentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:to="lab_us-gaap_DesignatedAsHedgingInstrumentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_d614eec9-5d8c-4634-bcd4-6065f2c729f6_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_label_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_9516ff75-b1ad-4195-9e88-6532373fbe03_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Relationship [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_7572d82e-40e9-4bf9-988f-8744f534f732_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell CHF Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swiss Franc [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swiss Franc</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturityLoanThreeMember_2f3fd174-3c7c-419e-8de9-70e0b7431b16_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Three</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanThreeMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Three [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanThreeMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanThreeMember" xlink:href="bxmt-20250930.xsd#bxmt_ExtendedMaturityLoanThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanThreeMember" xlink:to="lab_bxmt_ExtendedMaturityLoanThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoanParticipationsSold_cf141909-7752-4bca-b7ac-0511941da5d6_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count</link:label>
    <link:label id="lab_bxmt_NumberOfLoanParticipationsSold_label_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_NumberOfLoanParticipationsSold_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoanParticipationsSold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loan Participations Sold</link:label>
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    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_ade4cbea-fd59-4418-82c2-6ce2ea90e2c1_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underwriting Commissions and Offering Costs</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityPolicyTextBlock" xlink:to="lab_us-gaap_StockholdersEquityPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_7d4cb7d7-29a5-42af-8951-bde7d4c6c1ba_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Income and Expenses [Abstract]</link:label>
    <link:label id="lab_us-gaap_OtherIncomeAndExpensesAbstract_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income and Expenses [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherIncomeAndExpensesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeAndExpensesAbstract" xlink:to="lab_us-gaap_OtherIncomeAndExpensesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Company Selected Measure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsCoSelectedMeasureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember_000847a6-6d8e-4bb2-8089-3762a50bb42e_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL3 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:href="bxmt-20250930.xsd#bxmt_A2020FL3UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2020FL3UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllTradingArrangementsMember_terseLabel_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Trading Arrangements</link:label>
    <link:label id="lab_ecd_AllTradingArrangementsMember_label_en-US" xlink:label="lab_ecd_AllTradingArrangementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Trading Arrangements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllTradingArrangementsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllTradingArrangementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllTradingArrangementsMember" xlink:to="lab_ecd_AllTradingArrangementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjFnTextBlock" xlink:to="lab_ecd_EqtyAwrdsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Vs Peer Group [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnVsPeerGroupTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:to="lab_ecd_TotalShareholderRtnVsPeerGroupTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_a5162a97-0319-4cd4-9cf8-847c274b4dc4_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares of restricted class A common stock outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_bf48b24c-3009-47e0-8f96-77e62093ea91_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_9a2fa9ce-2e66-4a8f-8563-dc09fc0355c0_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber"/>
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    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_37896438-670b-41e3-ba64-c9b1a115046d_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
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    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_a0820952-39ff-40d8-bc23-43423be49329_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_987f18db-f242-4e5b-b58f-a85fca558ba8_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited_322f63e1-0e2c-4dd7-bbd1-51c0d3675580_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares forfeited (in shares)</link:label>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</link:label>
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    <link:label id="lab_us-gaap_SubsequentEventMember_f7d9c4ac-54e5-4f28-8ae7-fc4865dc4c96_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember" xlink:to="lab_us-gaap_SubsequentEventMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_0de417de-db31-484c-a7f7-e44eea3ce460_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds</link:label>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_label_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone-Advised Investment Vehicles, or the Funds.</link:label>
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    <link:label id="lab_us-gaap_RealEstateLineItems_eafa8ae3-3d84-4be4-afa8-a36b8c5511ae_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:label id="lab_us-gaap_RealEstateLineItems_label_en-US" xlink:label="lab_us-gaap_RealEstateLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateLineItems" xlink:to="lab_us-gaap_RealEstateLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_e8242e7f-b449-440d-8fb5-9167ee0b9388_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems"/>
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    <link:label id="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Valuation Assumption Difference, Footnote</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EquityValuationAssumptionDifferenceFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:to="lab_ecd_EquityValuationAssumptionDifferenceFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoTotalCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoTotalCompAmt_label_en-US" xlink:label="lab_ecd_PeoTotalCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Total Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoTotalCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoTotalCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoTotalCompAmt" xlink:to="lab_ecd_PeoTotalCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PerformPropertiesLLCMember_cfa7ceab-aa41-47e8-ab61-1d37d2bfbfef_terseLabel_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC</link:label>
    <link:label id="lab_bxmt_PerformPropertiesLLCMember_label_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC [Member]</link:label>
    <link:label id="lab_bxmt_PerformPropertiesLLCMember_documentation_en-US" xlink:label="lab_bxmt_PerformPropertiesLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Perform Properties, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformPropertiesLLCMember" xlink:href="bxmt-20250930.xsd#bxmt_PerformPropertiesLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformPropertiesLLCMember" xlink:to="lab_bxmt_PerformPropertiesLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_ef4fcce0-186f-4ad4-9349-657717574658_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term Debt, Type [Axis]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeAxis_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis" xlink:to="lab_us-gaap_LongtermDebtTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_beed768b-991a-4999-9361-a976340032b6_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 (remaining)</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_ba3da2ca-89b5-4814-bd26-d1e75fc06293_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis" xlink:to="lab_us-gaap_StatementEquityComponentsAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_8bbdcde2-2df0-4a04-87dd-d5877e09d26c_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year four</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_b0019b1a-57eb-43e8-8e5a-4359299bc080_terseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible notes, net</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_fea374d8-2190-4cd7-bdf3-183046a68739_verboseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Convertible Notes</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtMember_label_en-US" xlink:label="lab_us-gaap_ConvertibleDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConvertibleDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConvertibleDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConvertibleDebtMember" xlink:to="lab_us-gaap_ConvertibleDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage_33bfe6dc-4d85-4605-a936-a6ab68d7115e_terseLabel_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party transaction, interest in loan, percentage</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage_label_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Interest In Loan, Percentage</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage_documentation_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Interest In Loan, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:href="bxmt-20250930.xsd#bxmt_RelatedPartyTransactionInterestInLoanPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:to="lab_bxmt_RelatedPartyTransactionInterestInLoanPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_NonRule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonRule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonRule10b51ArrAdoptedFlag" xlink:to="lab_ecd_NonRule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_147070b5-ce3c-4dae-99dd-a557c9375e5e_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of reporting segments</link:label>
    <link:label id="lab_us-gaap_NumberOfReportableSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Reportable Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfReportableSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments" xlink:to="lab_us-gaap_NumberOfReportableSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_68e44cb6-bd71-4744-9fe4-98d122a4cfc1_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less: accumulated amortization</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:href="bxmt-20250930.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:to="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_589c54e6-22f7-4bc5-8aab-aefcaf24aa3a_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average all-in yield (percentage)</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_label_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Basis Spread on Variable Rate, Weighted Average All-In Yield</link:label>
    <link:label id="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Basis Spread on Variable Rate, Weighted Average All-In Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:to="lab_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommercialRealEstateMember_2867da19-bab7-49a8-913e-e9c55f2f3cfa_terseLabel_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commercial Real Estate</link:label>
    <link:label id="lab_us-gaap_CommercialRealEstateMember_label_en-US" xlink:label="lab_us-gaap_CommercialRealEstateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commercial Real Estate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommercialRealEstateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommercialRealEstateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommercialRealEstateMember" xlink:to="lab_us-gaap_CommercialRealEstateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_0befaa15-d4d6-4399-b493-374ea8c17312_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entities</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableInterestEntityDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:to="lab_us-gaap_VariableInterestEntityDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_79116269-c7f9-4ad8-a166-c00674963be8_terseLabel_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Principal Contractual Obligations</link:label>
    <link:label id="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock_label_en-US" xlink:label="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contractual Obligation, Fiscal Year Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:to="lab_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_67f925ad-4cd5-4234-a370-6f7997569ff7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsCommonStock_259750fd-e056-49f3-a7c7-d099b1255b2d_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A common stock dividends declared</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStock" xlink:to="lab_us-gaap_DividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_EUR_b4b41d20-4c92-4ecf-8414-bf95d048983e_terseLabel_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">EUR</link:label>
    <link:label id="lab_currency_EUR_label_en-US" xlink:label="lab_currency_EUR" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Member Countries, Euro</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_EUR" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_EUR"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_EUR" xlink:to="lab_currency_EUR" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_348f0f9f-0dec-41ba-b82d-ccecf85ef701_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan receivable, net, fair value</link:label>
    <link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_IndividualAxis_terseLabel_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual:</link:label>
    <link:label id="lab_ecd_IndividualAxis_label_en-US" xlink:label="lab_ecd_IndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_IndividualAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_IndividualAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_IndividualAxis" xlink:to="lab_ecd_IndividualAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_c086ac48-8f86-4397-9e10-1e85e5a2c331_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in rate</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_label_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Interest Rate Increase (Decrease) From Modification</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Interest Rate Increase (Decrease) From Modification</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:to="lab_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_554913ed-d278-4943-b82f-5f520a4f807d_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid on class A common stock</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_cd88c9a0-f137-4734-a530-58bd31a47eaf_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">0.01% to 1.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.01% To 1.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.01To1.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.01% To 1.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivable0.01To1.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable0.01To1.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LendingOneMember_8480053b-b62e-4d0f-bf2d-8d49cfa9a788_terseLabel_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LendingOne</link:label>
    <link:label id="lab_bxmt_LendingOneMember_label_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LendingOne [Member]</link:label>
    <link:label id="lab_bxmt_LendingOneMember_documentation_en-US" xlink:label="lab_bxmt_LendingOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LendingOne</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LendingOneMember" xlink:href="bxmt-20250930.xsd#bxmt_LendingOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LendingOneMember" xlink:to="lab_bxmt_LendingOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_f16667f5-5bc3-4733-946e-e60b703ce85b_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Noncontrolling Interests</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromMinorityShareholders" xlink:to="lab_us-gaap_ProceedsFromMinorityShareholders" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfessionalAndContractServicesExpense_96b444ce-2209-457f-9d57-a0e8c6d6f238_terseLabel_en-US" xlink:label="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses</link:label>
    <link:label id="lab_us-gaap_ProfessionalAndContractServicesExpense_label_en-US" xlink:label="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional and Contract Services Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalAndContractServicesExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfessionalAndContractServicesExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfessionalAndContractServicesExpense" xlink:to="lab_us-gaap_ProfessionalAndContractServicesExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Explanation of Impracticability [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:to="lab_ecd_ForgoneRecoveryExplanationOfImpracticabilityTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_445d90a5-aa43-458b-9a91-bdc571ca5d14_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minority participation in senior term facility</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary, Ownership Percentage, Noncontrolling Owner</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_a47237d3-19db-4317-a96c-083bdd8620a1_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments and repurchases of long-term debt</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_4bd510b8-5ed6-4930-bd29-5db445922a68_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment of term loan</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RepaymentsOfLongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebt" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember_477461bd-27d9-4256-a3ae-4d8ede894108_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy CHF / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Swiss Francs Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Swiss Francs Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuySwissFrancsSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_b661263c-6cdd-4163-919d-c440fdb9f395_terseLabel_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:label id="lab_dei_EntityInteractiveDataCurrent_label_en-US" xlink:label="lab_dei_EntityInteractiveDataCurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Interactive Data Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityInteractiveDataCurrent" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityInteractiveDataCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityInteractiveDataCurrent" xlink:to="lab_dei_EntityInteractiveDataCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_13a9e747-b807-4cf5-b302-17c89782c75a_terseLabel_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC</link:label>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_label_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC ("CTIMCO") [Member]</link:label>
    <link:label id="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember_documentation_en-US" xlink:label="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">CT Investment Management Co., LLC ("CTIMCO")</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:href="bxmt-20250930.xsd#bxmt_CTInvestmentManagementCo.LLCCTIMCOMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:to="lab_bxmt_CTInvestmentManagementCo.LLCCTIMCOMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_e9622616-34c0-4764-b67a-ca96403a9f36_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract_2df15a09-08ce-40fc-ba8f-8601d427b4a1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross charge-offs</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff, by Origination Year [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_25ec04e1-37f6-4203-9d92-20c50c9a62e7_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MixedUseAssetMember_652a945e-9b48-4430-aaf7-4ed5c98d2660_terseLabel_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mixed Use Asset</link:label>
    <link:label id="lab_bxmt_MixedUseAssetMember_label_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mixed Use Asset [Member]</link:label>
    <link:label id="lab_bxmt_MixedUseAssetMember_documentation_en-US" xlink:label="lab_bxmt_MixedUseAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mixed Use Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MixedUseAssetMember" xlink:href="bxmt-20250930.xsd#bxmt_MixedUseAssetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MixedUseAssetMember" xlink:to="lab_bxmt_MixedUseAssetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_48fd4408-2d62-42e6-86d7-e982fb71f561_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receipts under derivative financial instruments</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:to="lab_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_0dcb260c-86a5-4e9d-89a3-2b8b94c5999e_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Agency Multifamily Lending Partnership</link:label>
    <link:label id="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from Contract with Customer [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevenueFromContractWithCustomerPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:to="lab_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedRentalIncome_3a30c009-ee14-42f0-ad39-f186ec477fd1_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedRentalIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedRentalIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedRentalIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Rental Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedRentalIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedRentalIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Rental Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedRentalIncome" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedRentalIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedRentalIncome" xlink:to="lab_bxmt_RealEstateOwnedRentalIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestExpense_77d01359-044e-4d23-842d-627890d4ae22_totalLabel_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_NoninterestExpense_label_en-US" xlink:label="lab_us-gaap_NoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestExpense" xlink:to="lab_us-gaap_NoninterestExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_934f14f0-1feb-4d28-8276-30e72188cb08_terseLabel_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost</link:label>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_label_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost [Member]</link:label>
    <link:label id="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember_documentation_en-US" xlink:label="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured Overnight Financing Rate (SOFR), All-In Cost</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:href="bxmt-20250930.xsd#bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:to="lab_bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_e4005de9-aae0-43f3-85b5-e88ef086c970_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">December 2024</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2029 [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2029Member_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes, Due 2029</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesDue2029Member" xlink:href="bxmt-20250930.xsd#bxmt_SeniorSecuredNotesDue2029Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesDue2029Member" xlink:to="lab_bxmt_SeniorSecuredNotesDue2029Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentDeferralMember_d760578e-9bc5-4461-92c9-739c93899dee_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payment Deferral</link:label>
    <link:label id="lab_us-gaap_PaymentDeferralMember_label_en-US" xlink:label="lab_us-gaap_PaymentDeferralMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment Deferral [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentDeferralMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentDeferralMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentDeferralMember" xlink:to="lab_us-gaap_PaymentDeferralMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A12LoansMember_beac697d-294c-4de7-9178-a0f7e5e65737_terseLabel_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">12 Loans</link:label>
    <link:label id="lab_bxmt_A12LoansMember_label_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">12 Loans [Member]</link:label>
    <link:label id="lab_bxmt_A12LoansMember_documentation_en-US" xlink:label="lab_bxmt_A12LoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">12 Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A12LoansMember" xlink:href="bxmt-20250930.xsd#bxmt_A12LoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A12LoansMember" xlink:to="lab_bxmt_A12LoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_d0bf894b-1c6f-4794-ad43-d303fda39ca8_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_8f88a49a-9648-42c1-b192-e2d937d08e6a_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipDomain_efc76f13-4e99-4532-b641-59bb66651d4e_terseLabel_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:label id="lab_srt_OwnershipDomain_label_en-US" xlink:label="lab_srt_OwnershipDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OwnershipDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipDomain" xlink:to="lab_srt_OwnershipDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_cfbe18b5-1ec6-4f9a-86e5-8f452c508d84_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return of collateral deposited under derivative agreements</link:label>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:label id="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Collateral Deposit On Derivative Instrument, Investing Activities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:href="bxmt-20250930.xsd#bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:to="lab_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingTwoMember_af7363b4-4314-464f-9855-9b959259cd01_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">2</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_1fe4152f-8a45-4033-9116-715c0bcc2c54_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_label_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Two [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingTwoMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingTwoMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Two [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingTwoMember" xlink:href="bxmt-20250930.xsd#bxmt_RiskRatingTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingTwoMember" xlink:to="lab_bxmt_RiskRatingTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_afe72f89-0b87-4594-bbb8-5cef24eab89d_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Undiscounted Future Minimum Rental Income</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Maturity [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityCentralIndexKey_26c59573-d54b-4c20-a6de-5bd3aff376a7_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityCentralIndexKey"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey" xlink:to="lab_dei_EntityCentralIndexKey" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoName_terseLabel_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:label id="lab_ecd_PeoName_label_en-US" xlink:label="lab_ecd_PeoName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoName" xlink:to="lab_ecd_PeoName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_a6d6cfc9-abd0-475f-8df4-882039c495b8_negatedLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cumulative unrealized currency translation adjustment on assets and liabilities denominated in foreign currencies</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1_48e431ac-30cb-47b1-949c-1c2bf202d1b8_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Conversion price (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Convertible, Conversion Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentConvertibleConversionPrice1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:to="lab_us-gaap_DebtInstrumentConvertibleConversionPrice1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_f17c4588-ae99-45af-b37d-bbed541bc21c_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet" xlink:to="lab_us-gaap_BelowMarketLeaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year</link:label>
    <link:label id="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember_label_en-US" xlink:label="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:to="lab_ecd_FrValAsOfPrrYrEndOfEqtyAwrdsGrntdInPrrYrsFldVstngCondsDrngCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_8c9abcff-7722-49d8-95ad-00af25fb2f57_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_8f2fe415-df27-4366-b94c-9f2b0d47cee8_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Book Value, Total Loan Exposure and Net Loan Exposure of Loans Receivable Based on Internal Risk Ratings and Credit Quality Indicators</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable Credit Quality Indicators [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:to="lab_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingAggtErrCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingAggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingAggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingAggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingAggtErrCompAmt" xlink:to="lab_ecd_OutstandingAggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_7fe1ad1c-106e-4f44-b48d-496a6a4276af_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation paid in cash</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Cash</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationCash_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationCash" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationCash" xlink:href="bxmt-20250930.xsd#bxmt_AnnualDirectorCompensationCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationCash" xlink:to="lab_bxmt_AnnualDirectorCompensationCash" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_421c31e3-271e-42a8-9ec3-74e63fd5016f_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net Loan Exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_031b61c1-b226-41e5-9881-815a41c38dfb_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net loan exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_dcdf7ef1-8445-4815-8591-08d05fbd8f5f_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2025</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche One [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldDomain_23c4045f-55c1-4bbd-b8f2-49a37760f1a1_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDomain_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDomain_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDomain" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldDomain" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldDomain" xlink:to="lab_bxmt_LoanParticipationsSoldDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OfficeBuildingMember_04f73ce4-1dae-4194-b335-f786bb6baa63_terseLabel_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Office</link:label>
    <link:label id="lab_srt_OfficeBuildingMember_label_en-US" xlink:label="lab_srt_OfficeBuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Office Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OfficeBuildingMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OfficeBuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OfficeBuildingMember" xlink:to="lab_srt_OfficeBuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_1792c305-6401-47ee-8d82-ab580dd7f0d7_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee measurement period (in years)</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Measurement Period</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Measurement Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:href="bxmt-20250930.xsd#bxmt_ManagementFeeCoreEarningsMeasurementPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:to="lab_bxmt_ManagementFeeCoreEarningsMeasurementPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_f5657d89-72d2-4719-b8dc-b6dbf97f08e4_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of General and Administrative Expenses</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Operating Cost and Expense, by Component [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherOperatingCostAndExpenseByComponentTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_1b2cc84b-643c-4651-a8b7-f404811e11de_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Fair Value of Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_af979568-9758-4d9f-bb50-519e71e4bba4_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1 [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture1Member_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 1</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVenture1Member" xlink:href="bxmt-20250930.xsd#bxmt_BankLoanPortfolioJointVenture1Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVenture1Member" xlink:to="lab_bxmt_BankLoanPortfolioJointVenture1Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardExrcPrice_terseLabel_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercise Price</link:label>
    <link:label id="lab_ecd_AwardExrcPrice_label_en-US" xlink:label="lab_ecd_AwardExrcPrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Exercise Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardExrcPrice" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardExrcPrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardExrcPrice" xlink:to="lab_ecd_AwardExrcPrice" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFilerCategory_13b4c9f2-425b-4da6-a150-eed4932b6d09_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_label_en-US" xlink:label="lab_dei_EntityFilerCategory" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFilerCategory" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFilerCategory"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory" xlink:to="lab_dei_EntityFilerCategory" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockDomain_0f4a0cbf-3f94-42f6-9188-70d29c95fb03_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockDomain_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain" xlink:to="lab_us-gaap_ClassOfStockDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_a43505d0-a576-47b6-ad21-52e237d1b1ce_terseLabel_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance of deferred stock units (in shares)</link:label>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_label_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Deferred Stock Units</link:label>
    <link:label id="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits_documentation_en-US" xlink:label="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Deferred Stock Units</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:href="bxmt-20250930.xsd#bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:to="lab_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_9f4bab6a-8aa9-4cc1-aebc-5383484ffe2c_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis" xlink:to="lab_us-gaap_SubsequentEventTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_5f07e55c-e531-447b-a30f-3984a4bf8f7a_terseLabel_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securitized debt obligations, net</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_label_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligation [Member]</link:label>
    <link:label id="lab_bxmt_SecuritizedDebtObligationMember_documentation_en-US" xlink:label="lab_bxmt_SecuritizedDebtObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Securitized Debt Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuritizedDebtObligationMember" xlink:href="bxmt-20250930.xsd#bxmt_SecuritizedDebtObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuritizedDebtObligationMember" xlink:to="lab_bxmt_SecuritizedDebtObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_b539af2c-a0c1-452a-86cf-bd2df945be3a_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value [Member]</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:href="bxmt-20250930.xsd#bxmt_EquityMethodInvestmentsCarriedAtFairValueMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:to="lab_bxmt_EquityMethodInvestmentsCarriedAtFairValueMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_e6d72b6a-c9a4-4dd3-8daf-beb52376a711_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_USLoansMember_9c8973ad-5f9a-4d6f-b4b5-4b12c8f0be80_terseLabel_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">US Loans</link:label>
    <link:label id="lab_bxmt_USLoansMember_label_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Loans [Member]</link:label>
    <link:label id="lab_bxmt_USLoansMember_documentation_en-US" xlink:label="lab_bxmt_USLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_USLoansMember" xlink:href="bxmt-20250930.xsd#bxmt_USLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_USLoansMember" xlink:to="lab_bxmt_USLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_d202ddf0-4256-4125-bfce-3990bd807bca_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, net</link:label>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_c7197938-39bc-401e-8266-f2f74c042dec_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, net</link:label>
    <link:label id="lab_us-gaap_RealEstateAcquiredThroughForeclosure_label_en-US" xlink:label="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:to="lab_us-gaap_RealEstateAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VestingDomain_20e26b0c-a07e-4f05-9d67-35ac88f53dc4_terseLabel_en-US" xlink:label="lab_us-gaap_VestingDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:label id="lab_us-gaap_VestingDomain_label_en-US" xlink:label="lab_us-gaap_VestingDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VestingDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VestingDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingDomain" xlink:to="lab_us-gaap_VestingDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_terseLabel_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year</link:label>
    <link:label id="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember_label_en-US" xlink:label="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:to="lab_ecd_VstngDtFrValOfEqtyAwrdsGrntdAndVstdInCvrdYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_a3b71573-cfd2-49dc-b705-effc7c6c0587_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine2_94ccf7ef-d61e-4ca4-ba07-4c950bf854c7_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine2_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine2"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine2" xlink:to="lab_dei_EntityAddressAddressLine2" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_9cecd63d-9ef0-4b96-b308-a2c2a288910d_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss)</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AOCI Attributable to Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_564c2a8b-1a4c-4707-a51b-8ab74f3a8c36_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">2025 (remaining)</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:to="lab_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_cb61aef5-e522-4cb7-8193-041dee6eaf21_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments [Domain]</link:label>
    <link:label id="lab_us-gaap_InvestmentTypeCategorizationMember_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentTypeCategorizationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeCategorizationMember" xlink:to="lab_us-gaap_InvestmentTypeCategorizationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_b502f56e-7347-401e-a40a-7bacd92978b7_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentAxis_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InternalCreditAssessmentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentAxis" xlink:to="lab_us-gaap_InternalCreditAssessmentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_ce84d3df-b04a-4f44-9a09-fd0b412b2df6_terseLabel_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:label id="lab_us-gaap_InternalCreditAssessmentDomain_label_en-US" xlink:label="lab_us-gaap_InternalCreditAssessmentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Internal Credit Assessment [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InternalCreditAssessmentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InternalCreditAssessmentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InternalCreditAssessmentDomain" xlink:to="lab_us-gaap_InternalCreditAssessmentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OwnershipAxis_f0ab5b4b-cbfe-487b-bd3a-8ff5c5811c3a_terseLabel_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:label id="lab_srt_OwnershipAxis_label_en-US" xlink:label="lab_srt_OwnershipAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ownership [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OwnershipAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OwnershipAxis" xlink:to="lab_srt_OwnershipAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_d454a9c2-e0ae-4d2f-b703-13bc202f4bcd_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_label_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:href="bxmt-20250930.xsd#bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:to="lab_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_9d6f8410-f163-47e5-914c-42c84af014e8_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
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    <link:label id="lab_ecd_AwardGrantDateFairValue_terseLabel_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value as of Grant Date</link:label>
    <link:label id="lab_ecd_AwardGrantDateFairValue_label_en-US" xlink:label="lab_ecd_AwardGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Grant Date Fair Value</link:label>
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    <link:label id="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_bb7bd24f-3992-41a0-b16f-94d8bccf088a_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Revenue and Expenses From Real Estate Owned</link:label>
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    <link:label id="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Real Estate Owned, Income And Expenses</link:label>
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    <link:label id="lab_bxmt_CashAndCashEquivalents_d87610d0-f77a-4ed6-87cd-78d899efec22_terseLabel_en-US" xlink:label="lab_bxmt_CashAndCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, book value</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock_1687d0e7-e33e-4fb4-9482-268e35701e49_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtInstrumentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-Term Debt</link:label>
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    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable_ad82c62a-84fc-4ff6-acfb-c7fc6f42273c_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresTable"/>
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    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet_f57e27af-59b0-4a17-a954-b4fc164235ca_totalLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate assets, net</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds_ddbc0120-5e1f-43b8-88b7-df532bfcf277_negatedLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loan repayments, sales, and cost-recovery proceeds</link:label>
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    <link:label id="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain_d2aeede5-db97-48af-818e-64e2c4b8aae2_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualWithRelationshipToEntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Relationship to Entity [Domain]</link:label>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_fcc8e04c-2870-45a0-8170-fa72e2edc386_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in shares)</link:label>
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    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_51755b5a-c18c-4c95-8413-813f848e82c5_terseLabel_en-US" xlink:label="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable and other assets</link:label>
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    <link:label id="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent_documentation_en-US" xlink:label="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Net, Current And Other Assets, Current</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:href="bxmt-20250930.xsd#bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:to="lab_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BTIGLLCMember_db2522a0-60ee-4969-ba3e-0e1f5b19c731_terseLabel_en-US" xlink:label="lab_bxmt_BTIGLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BTIG, LLC</link:label>
    <link:label id="lab_bxmt_BTIGLLCMember_label_en-US" xlink:label="lab_bxmt_BTIGLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BTIG, LLC [Member]</link:label>
    <link:label id="lab_bxmt_BTIGLLCMember_documentation_en-US" xlink:label="lab_bxmt_BTIGLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BTIG, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BTIGLLCMember" xlink:href="bxmt-20250930.xsd#bxmt_BTIGLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BTIGLLCMember" xlink:to="lab_bxmt_BTIGLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentQuarterlyReport_3c670861-7293-4abc-a90b-ee50b27f8a3a_terseLabel_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:label id="lab_dei_DocumentQuarterlyReport_label_en-US" xlink:label="lab_dei_DocumentQuarterlyReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Quarterly Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentQuarterlyReport" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentQuarterlyReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentQuarterlyReport" xlink:to="lab_dei_DocumentQuarterlyReport" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CompensationCommitteeMember_bb47b9ac-5747-4680-965d-c21d7de85ccb_terseLabel_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Committee</link:label>
    <link:label id="lab_bxmt_CompensationCommitteeMember_label_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Committee [Member]</link:label>
    <link:label id="lab_bxmt_CompensationCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_CompensationCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Compensation Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CompensationCommitteeMember" xlink:href="bxmt-20250930.xsd#bxmt_CompensationCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CompensationCommitteeMember" xlink:to="lab_bxmt_CompensationCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_953fd932-cdd3-4a6b-9c3c-af7467c79d50_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, fair value</link:label>
    <link:label id="lab_us-gaap_LongTermDebtFairValue_label_en-US" xlink:label="lab_us-gaap_LongTermDebtFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtFairValue" xlink:to="lab_us-gaap_LongTermDebtFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote</link:label>
    <link:label id="lab_ecd_ChangedPeerGroupFnTextBlock_label_en-US" xlink:label="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changed Peer Group, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChangedPeerGroupFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChangedPeerGroupFnTextBlock" xlink:to="lab_ecd_ChangedPeerGroupFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_18694bad-31de-4d67-8fc5-a61bb4c3b6d7_terseLabel_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:label id="lab_srt_RepurchaseAgreementCounterpartyNameDomain_label_en-US" xlink:label="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RepurchaseAgreementCounterpartyNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:to="lab_srt_RepurchaseAgreementCounterpartyNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NewYorkNYMember_71dcd14e-d6e7-4586-96b4-4ce2aaaa0997_terseLabel_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New York, NY</link:label>
    <link:label id="lab_bxmt_NewYorkNYMember_label_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New York, NY [Member]</link:label>
    <link:label id="lab_bxmt_NewYorkNYMember_documentation_en-US" xlink:label="lab_bxmt_NewYorkNYMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">New York, NY</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NewYorkNYMember" xlink:href="bxmt-20250930.xsd#bxmt_NewYorkNYMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NewYorkNYMember" xlink:to="lab_bxmt_NewYorkNYMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_baf6460d-79e2-42d9-9b61-5f21a9d18586_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_label_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold [Table Text Block]</link:label>
    <link:label id="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:to="lab_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote</link:label>
    <link:label id="lab_ecd_AdjToPeoCompFnTextBlock_label_en-US" xlink:label="lab_ecd_AdjToPeoCompFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment To PEO Compensation, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AdjToPeoCompFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AdjToPeoCompFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AdjToPeoCompFnTextBlock" xlink:to="lab_ecd_AdjToPeoCompFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_62191f81-14f0-40e5-833c-223e43668e61_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:label id="lab_us-gaap_InvestmentTypeAxis_label_en-US" xlink:label="lab_us-gaap_InvestmentTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentTypeAxis" xlink:to="lab_us-gaap_InvestmentTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndTitle_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title</link:label>
    <link:label id="lab_ecd_TrdArrIndTitle_label_en-US" xlink:label="lab_ecd_TrdArrIndTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Title</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndTitle" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndTitle" xlink:to="lab_ecd_TrdArrIndTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_PeerGroupTotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupTotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupTotalShareholderRtnAmt" xlink:to="lab_ecd_PeerGroupTotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_9be63fb4-4afc-424b-910a-9165bdde9542_terseLabel_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NOL limitation per annum</link:label>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_label_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Limitations On Use, Annual Limitation</link:label>
    <link:label id="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation_documentation_en-US" xlink:label="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operating Loss Carryforwards, Limitations On Use, Annual Limitation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:href="bxmt-20250930.xsd#bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:to="lab_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_15d20b44-bf9e-4c63-8589-860964312adf_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3.01% or more floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 3.01% Or More Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 3.01% Or More Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivable3.01OrMoreFloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:to="lab_bxmt_FinancingReceivable3.01OrMoreFloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonPeoNeoMember_terseLabel_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-PEO NEO</link:label>
    <link:label id="lab_ecd_NonPeoNeoMember_label_en-US" xlink:label="lab_ecd_NonPeoNeoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-PEO NEO [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonPeoNeoMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonPeoNeoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonPeoNeoMember" xlink:to="lab_ecd_NonPeoNeoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_a07f2db4-a28a-43d8-b585-0c8fcdb7d8f1_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of loans not subject to prepayment restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_label_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Not Subject To Prepayment Restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Not Subject To Prepayment Restrictions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:to="lab_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_45c51ec6-e740-4a1b-885c-eaa7061a85a0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_f8c0ba9c-bd75-4478-9770-36c287e4e437_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Principal fundings of loans receivable</link:label>
    <link:label id="lab_us-gaap_PaymentsForProceedsFromLoansReceivable_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for (Proceeds from) Loans Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForProceedsFromLoansReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:to="lab_us-gaap_PaymentsForProceedsFromLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MinorityInterest_0174473a-7b2c-456e-b41e-fe8198938e09_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_label_en-US" xlink:label="lab_us-gaap_MinorityInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest" xlink:to="lab_us-gaap_MinorityInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments</link:label>
    <link:label id="lab_ecd_EqtyAwrdsAdjsMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsAdjsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Awards Adjustments [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsAdjsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsAdjsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsAdjsMember" xlink:to="lab_ecd_EqtyAwrdsAdjsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_5e767420-8958-428e-8a81-7b5113e007bf_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_322fc751-883d-4743-810a-97e15e06cc8e_verboseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Number of Loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfLoans" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfLoans" xlink:to="lab_bxmt_FinancingReceivableNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LeaseholdImprovementsMember_c5ec1016-853d-4a62-bf7e-6e5bf7ded6f2_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasehold Improvements</link:label>
    <link:label id="lab_us-gaap_LeaseholdImprovementsMember_label_en-US" xlink:label="lab_us-gaap_LeaseholdImprovementsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold Improvements [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LeaseholdImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LeaseholdImprovementsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseholdImprovementsMember" xlink:to="lab_us-gaap_LeaseholdImprovementsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote</link:label>
    <link:label id="lab_ecd_PnsnBnftsAdjFnTextBlock_label_en-US" xlink:label="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Benefits Adjustments, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnBnftsAdjFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnBnftsAdjFnTextBlock" xlink:to="lab_ecd_PnsnBnftsAdjFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_country_CA_d476b396-c0ad-4edf-a138-7786626380a9_terseLabel_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canada</link:label>
    <link:label id="lab_country_CA_label_en-US" xlink:label="lab_country_CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_CA" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_CA"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_CA" xlink:to="lab_country_CA" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Amount</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryCompAmt_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryCompAmt" xlink:to="lab_ecd_OutstandingRecoveryCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_6ff6595c-d9da-4a91-9cf6-77b971a2ddf8_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Unrealized Gain (Loss) On Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_569fb6bd-e15c-48cc-9a30-b343984d51ce_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Book Value, total loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan, Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoanAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldTotalLoanAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:to="lab_bxmt_LoanParticipationsSoldTotalLoanAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_34d7583f-c59a-4165-8a8f-db03e77451de_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentNameDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain" xlink:to="lab_us-gaap_DebtInstrumentNameDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StraightLineRent_475f3921-0309-46b1-9e9e-1baf92e1f0b1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rental income</link:label>
    <link:label id="lab_us-gaap_StraightLineRent_label_en-US" xlink:label="lab_us-gaap_StraightLineRent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StraightLineRent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StraightLineRent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StraightLineRent" xlink:to="lab_us-gaap_StraightLineRent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignExchangeContractMember_a34841d4-4994-4e61-8881-eed6e2dc4432_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_ForeignExchangeContractMember_label_en-US" xlink:label="lab_us-gaap_ForeignExchangeContractMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignExchangeContractMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ForeignExchangeContractMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignExchangeContractMember" xlink:to="lab_us-gaap_ForeignExchangeContractMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RecoveryOfErrCompDisclosureLineItems_label_en-US" xlink:label="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recovery of Erroneously Awarded Compensation Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RecoveryOfErrCompDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:to="lab_ecd_RecoveryOfErrCompDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_terseLabel_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value</link:label>
    <link:label id="lab_ecd_MnpiDiscTimedForCompValFlag_label_en-US" xlink:label="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MNPI Disclosure Timed for Compensation Value [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MnpiDiscTimedForCompValFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MnpiDiscTimedForCompValFlag" xlink:to="lab_ecd_MnpiDiscTimedForCompValFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_country_AU_b13880a4-d713-403a-91c9-ccb7e188b497_terseLabel_en-US" xlink:label="lab_country_AU" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Australia</link:label>
    <link:label id="lab_country_AU_label_en-US" xlink:label="lab_country_AU" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AUSTRALIA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_AU" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_AU"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_AU" xlink:to="lab_country_AU" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_5631ff6c-288a-4ddf-8198-400c1b5c5e46_negatedTotalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Writeoff</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet_e3b55689-eb43-4d93-9efe-f8191c35fa20_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in CECL reserve</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance For Credit Loss, Period Increase (Decrease), Net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance For Credit Loss, Period Increase (Decrease), Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract_c0ef2bdc-93d4-4c6b-a354-40f362e6e3f9_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_54bbb6f5-f8ee-4364-9ab0-6044d5ecf7d3_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee, And Loan In Process, Writeoff</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee, And Loan In Process, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_d3e7012c-7866-44d3-9075-804d9d7181c8_terseLabel_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Audit Committee Members</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_label_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Committee Members [Member]</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMembersMember_documentation_en-US" xlink:label="lab_bxmt_AuditCommitteeMembersMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit committee members.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AuditCommitteeMembersMember" xlink:href="bxmt-20250930.xsd#bxmt_AuditCommitteeMembersMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AuditCommitteeMembersMember" xlink:to="lab_bxmt_AuditCommitteeMembersMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_f100753e-80f1-497b-bd69-ce95988f66f1_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income</link:label>
    <link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_a0c75335-374b-46e6-960b-71e3b858bdd5_terseLabel_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Overall Statistics for Loans Receivable Portfolio</link:label>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_label_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Overall Statistics For Loans Receivables Portfolio [Table Text Block]</link:label>
    <link:label id="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Overall Statistics For Loans Receivables Portfolio [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:to="lab_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_4229f40c-7909-4d30-bc5a-37d7e62954a0_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost</link:label>
    <link:label id="lab_ecd_AggtPnsnAdjsSvcCstMember_label_en-US" xlink:label="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Pension Adjustments Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtPnsnAdjsSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtPnsnAdjsSvcCstMember" xlink:to="lab_ecd_AggtPnsnAdjsSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_ecc8680c-eea2-480a-bfdc-72e56b3cc8bb_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy GBP / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Great Britain Pound Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy Great Britain Pound Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyGreatBritainPoundSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ChicagoILMember_fd16aeea-7cc5-45df-983b-cae8518dc226_terseLabel_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:label id="lab_bxmt_ChicagoILMember_label_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chicago, IL [Member]</link:label>
    <link:label id="lab_bxmt_ChicagoILMember_documentation_en-US" xlink:label="lab_bxmt_ChicagoILMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Chicago, IL</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ChicagoILMember" xlink:href="bxmt-20250930.xsd#bxmt_ChicagoILMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ChicagoILMember" xlink:to="lab_bxmt_ChicagoILMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_7ca726a7-ccde-4b8b-b818-a2afab1b2f46_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash proceeds</link:label>
    <link:label id="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment_label_en-US" xlink:label="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Principal Repayment, Loan and Lease, Held-for-Investment</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:to="lab_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_ccba2e76-6213-438b-8ada-9c5b7b486692_terseLabel_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan principal payments held by servicer, net</link:label>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_label_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Principal Payments Held By Servicer</link:label>
    <link:label id="lab_bxmt_LoanPrincipalPaymentsHeldByServicer_documentation_en-US" xlink:label="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan principal payments held by servicer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:href="bxmt-20250930.xsd#bxmt_LoanPrincipalPaymentsHeldByServicer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:to="lab_bxmt_LoanPrincipalPaymentsHeldByServicer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2e5270b1-c3eb-48c1-a443-e4bb4503840a_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MinimumMember_558924ba-e1f4-4866-9326-4d8eb800b484_terseLabel_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum</link:label>
    <link:label id="lab_srt_MinimumMember_label_en-US" xlink:label="lab_srt_MinimumMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MinimumMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MinimumMember" xlink:to="lab_srt_MinimumMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2.01OrMoreMember_4eb6e636-957d-40fe-99d4-6500881e443d_terseLabel_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 2.01% or more</link:label>
    <link:label id="lab_bxmt_A2.01OrMoreMember_label_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2.01% Or More [Member]</link:label>
    <link:label id="lab_bxmt_A2.01OrMoreMember_documentation_en-US" xlink:label="lab_bxmt_A2.01OrMoreMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2.01% Or More</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2.01OrMoreMember" xlink:href="bxmt-20250930.xsd#bxmt_A2.01OrMoreMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2.01OrMoreMember" xlink:to="lab_bxmt_A2.01OrMoreMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_95ac0dfd-81bf-4491-88f5-21263606b6c5_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureName_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureName_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureName" xlink:to="lab_ecd_CoSelectedMeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_e4f174b2-5d88-41b6-a58d-a9cc627a4614_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loan modifications</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_label_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Number Of Contracts</link:label>
    <link:label id="lab_bxmt_FinancingReceivableModifiedNumberOfContracts_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Number Of Contracts</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableModifiedNumberOfContracts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:to="lab_bxmt_FinancingReceivableModifiedNumberOfContracts" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_5be671f4-a777-4b68-9592-d4daac5e4b1c_negatedTerseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Less: accumulated depreciation</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation_documentation_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Accumulated Depreciation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:to="lab_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_terseLabel_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Available</link:label>
    <link:label id="lab_ecd_TrdArrSecuritiesAggAvailAmt_label_en-US" xlink:label="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Securities Aggregate Available Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrSecuritiesAggAvailAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrSecuritiesAggAvailAmt" xlink:to="lab_ecd_TrdArrSecuritiesAggAvailAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_cdf9648c-12ea-491b-960d-0b207cc1d364_terseLabel_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General CECL Reserves</link:label>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_label_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General CECL Reserves [Member]</link:label>
    <link:label id="lab_bxmt_GeneralCECLReservesMember_documentation_en-US" xlink:label="lab_bxmt_GeneralCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General CECL Reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GeneralCECLReservesMember" xlink:href="bxmt-20250930.xsd#bxmt_GeneralCECLReservesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GeneralCECLReservesMember" xlink:to="lab_bxmt_GeneralCECLReservesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_3b56c40c-dc80-4cb5-a505-617f76e1a5fb_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_label_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Amortization Percentage</link:label>
    <link:label id="lab_bxmt_DebtInstrumentAmortizationPercentage_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents debt instrument amortization percentage.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentAmortizationPercentage" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentAmortizationPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentAmortizationPercentage" xlink:to="lab_bxmt_DebtInstrumentAmortizationPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs)</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockAppreciationRightsSARSMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_9308abf4-5b48-464a-b6cf-17799b8906d9_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends declared, not paid</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_f7d34d5e-b6de-4c9a-8713-85f6055abcff_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued dividends payable</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CollateralDomain_95f7d460-a399-41aa-9972-96baac851416_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral [Domain]</link:label>
    <link:label id="lab_us-gaap_CollateralDomain_label_en-US" xlink:label="lab_us-gaap_CollateralDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral Held [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CollateralDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CollateralDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CollateralDomain" xlink:to="lab_us-gaap_CollateralDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_d79029f1-ad5a-4df9-a52c-9859f62bb6c2_terseLabel_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:label id="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_label_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle [Member]</link:label>
    <link:label id="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember_documentation_en-US" xlink:label="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Performing Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:href="bxmt-20250930.xsd#bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:to="lab_bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_8777a777-937e-4bf2-98f4-1969b37273fc_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_5aa28160-63df-4a8a-abdf-a8eedcc314a0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2026</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche Two [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_a00c714a-2639-4e4b-b206-ce374e6ac9b3_terseLabel_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company and Affiliates</link:label>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_label_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company And Affiliates [Member]</link:label>
    <link:label id="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember_documentation_en-US" xlink:label="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company And Affiliates [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:href="bxmt-20250930.xsd#bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:to="lab_bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_78fc7d6c-983e-48ae-a0e9-7c2402270d43_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_fa94baf5-b017-4873-9299-d867092ec612_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_terseLabel_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description</link:label>
    <link:label id="lab_ecd_NonGaapMeasureDescriptionTextBlock_label_en-US" xlink:label="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-GAAP Measure Description [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_NonGaapMeasureDescriptionTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_NonGaapMeasureDescriptionTextBlock" xlink:to="lab_ecd_NonGaapMeasureDescriptionTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A1.50OrLessMember_e56a0f68-7db6-4bd9-9fc5-65930435ade5_terseLabel_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.50% or less</link:label>
    <link:label id="lab_bxmt_A1.50OrLessMember_label_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.50% Or Less [Member]</link:label>
    <link:label id="lab_bxmt_A1.50OrLessMember_documentation_en-US" xlink:label="lab_bxmt_A1.50OrLessMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.50% Or Less</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.50OrLessMember" xlink:href="bxmt-20250930.xsd#bxmt_A1.50OrLessMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.50OrLessMember" xlink:to="lab_bxmt_A1.50OrLessMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeTable_0de57b6d-c2cf-43e3-bfb5-21f84db65954_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeTable_label_en-US" xlink:label="lab_us-gaap_DerivativeTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTable" xlink:to="lab_us-gaap_DerivativeTable" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntitySmallBusiness_82c9d1ba-3a58-40d5-a342-fc5bbfbfc53e_terseLabel_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:label id="lab_dei_EntitySmallBusiness_label_en-US" xlink:label="lab_dei_EntitySmallBusiness" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Small Business</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntitySmallBusiness" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntitySmallBusiness"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntitySmallBusiness" xlink:to="lab_dei_EntitySmallBusiness" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturityLoanOneMember_7ed97401-6dc2-4ddd-89b9-4a8d970a9bdd_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanOneMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan One</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanOneMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanOneMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan One [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanOneMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanOneMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanOneMember" xlink:href="bxmt-20250930.xsd#bxmt_ExtendedMaturityLoanOneMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanOneMember" xlink:to="lab_bxmt_ExtendedMaturityLoanOneMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_218360af-6f2c-43e6-9c39-90482c1df4dd_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_ed8d2f05-859e-4843-a239-85e37ba54136_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_PreferredStockSharesOutstanding_label_en-US" xlink:label="lab_us-gaap_PreferredStockSharesOutstanding" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PreferredStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockSharesOutstanding"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_us-gaap_PreferredStockSharesOutstanding" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_6f261df9-889b-460e-aa0b-e7a2c6c15833_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity (Years)</link:label>
    <link:label id="lab_us-gaap_DerivativeAverageRemainingMaturity1_label_en-US" xlink:label="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Average Remaining Maturity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeAverageRemainingMaturity1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAverageRemainingMaturity1" xlink:to="lab_us-gaap_DerivativeAverageRemainingMaturity1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_e60915d5-ba2e-4973-8b38-2fc020ee61a1_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebtTextBlock_label_en-US" xlink:label="lab_us-gaap_LongTermDebtTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtTextBlock" xlink:to="lab_us-gaap_LongTermDebtTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentTransitionReport_998492db-0e7a-412a-858a-7fc81b8a9fc8_terseLabel_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:label id="lab_dei_DocumentTransitionReport_label_en-US" xlink:label="lab_dei_DocumentTransitionReport" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Transition Report</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentTransitionReport" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentTransitionReport"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentTransitionReport" xlink:to="lab_dei_DocumentTransitionReport" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_d1289e5f-c087-4ae7-9967-0c31731aa221_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate sales price</link:label>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_label_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Authorized Amount</link:label>
    <link:label id="lab_bxmt_SaleOfStockMaximumAuthorizedAmount_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Maximum Authorized Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:href="bxmt-20250930.xsd#bxmt_SaleOfStockMaximumAuthorizedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:to="lab_bxmt_SaleOfStockMaximumAuthorizedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_terseLabel_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Securities</link:label>
    <link:label id="lab_ecd_AwardUndrlygSecuritiesAmt_label_en-US" xlink:label="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Underlying Securities Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardUndrlygSecuritiesAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardUndrlygSecuritiesAmt" xlink:to="lab_ecd_AwardUndrlygSecuritiesAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityComponentDomain_7de955b9-a8f5-4b6e-b6c8-d90a9c49024a_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityComponentDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain" xlink:to="lab_us-gaap_EquityComponentDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentPeriodEndDate_f837cddd-9065-497d-b648-b26e9d9749b9_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentPeriodEndDate" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentPeriodEndDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate" xlink:to="lab_dei_DocumentPeriodEndDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_27c22c7a-cfaf-4cd7-877a-89e5fa36ab77_negatedLabel_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayments of loan participations</link:label>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_c84f88f0-7adc-4921-9cbd-60e1a2fdfdb4_terseLabel_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment of loan participations</link:label>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_label_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments Of Loan Participations</link:label>
    <link:label id="lab_bxmt_RepaymentsOfLoanParticipations_documentation_en-US" xlink:label="lab_bxmt_RepaymentsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents repayments of loan participants.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RepaymentsOfLoanParticipations" xlink:href="bxmt-20250930.xsd#bxmt_RepaymentsOfLoanParticipations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RepaymentsOfLoanParticipations" xlink:to="lab_bxmt_RepaymentsOfLoanParticipations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_a391bb64-d435-4436-bd4c-c0ccb950811e_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonClassAMember_4b441bb2-7d61-4f1a-9597-ba45b72d886a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonClassAMember_label_en-US" xlink:label="lab_us-gaap_CommonClassAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Class A [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonClassAMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonClassAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonClassAMember" xlink:to="lab_us-gaap_CommonClassAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_1394c61c-1e4f-4afe-9a37-01224bebdf7f_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New borrowings</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_b061c0d7-b63a-4e36-a619-0449e2d7dafb_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">New Financings</link:label>
    <link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Lines of Credit</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromLinesOfCredit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLinesOfCredit" xlink:to="lab_us-gaap_ProceedsFromLinesOfCredit" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_d57887ff-ac59-4d88-b6a3-b5d998b054e6_terseLabel_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average maximum maturity (years)</link:label>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_label_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Loan On Real Estate Final Maturity Term</link:label>
    <link:label id="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm_documentation_en-US" xlink:label="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage Loan On Real Estate Final Maturity Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:href="bxmt-20250930.xsd#bxmt_MortgageLoanOnRealEstateFinalMaturityTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:to="lab_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_87085352-9fac-47ed-921a-9c0dfdef7666_terseLabel_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_label_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:label id="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:href="bxmt-20250930.xsd#bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:to="lab_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicDistributionDomain_382f864e-ebbf-49ef-bdb6-591a71a0e068_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Domain]</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionDomain_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomain" xlink:to="lab_us-gaap_GeographicDistributionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_country_GB_76be8d4f-cfff-4ce2-93fa-7c4d55df470a_terseLabel_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">United Kingdom</link:label>
    <link:label id="lab_country_GB_label_en-US" xlink:label="lab_country_GB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED KINGDOM</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_GB" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_GB"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_GB" xlink:to="lab_country_GB" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Table</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:to="lab_ecd_AwardsCloseToMnpiDiscTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_585f5033-c803-40d1-9be3-b8bbb649f328_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loan Count</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_fa7517d9-5fe0-4e75-9ccd-2a5743c1302a_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count, financing provided</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_label_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loans</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentNumberOfLoans" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentNumberOfLoans" xlink:to="lab_bxmt_DebtInstrumentNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_8acaa7f8-94d9-4eac-9a4a-00d16af6bfb6_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_646947f3-fde4-46d5-a8e9-04a6818656f2_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_98bc5fbf-48ab-4480-8677-573aa024b0b9_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_a583a7ac-a8cc-4191-ac28-1b29a235d1ce_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_6f8cc368-9f80-400e-aa1a-a57dfec1e414_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell EUR Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell European Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell European Dollar [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_233e290d-b9c6-424b-a72f-c4568dfbb373_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_4fde43b2-76ce-442d-b049-02b1b0495dfa_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 3</link:label>
    <link:label id="lab_us-gaap_FairValueInputsLevel3Member_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueInputsLevel3Member" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member" xlink:to="lab_us-gaap_FairValueInputsLevel3Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_a6e0674a-24e8-48c6-867b-b5d83afafaa5_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Fair Value Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentsFairValueDisclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:to="lab_us-gaap_EquityMethodInvestmentsFairValueDisclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_OutstandingRecoveryIndName_label_en-US" xlink:label="lab_ecd_OutstandingRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OutstandingRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OutstandingRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OutstandingRecoveryIndName" xlink:to="lab_ecd_OutstandingRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_a9ed7cb6-316e-4299-a362-67372fe150be_terseLabel_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_label_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure_documentation_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:href="bxmt-20250930.xsd#bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:to="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_eb4c67d4-6578-4ff1-8bcd-f7c19e5f9142_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionDomain_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionDomain" xlink:to="lab_us-gaap_AssetAcquisitionDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_country_ES_a862470f-6a1b-4a3d-8e08-c6db1fcee9c2_terseLabel_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spain</link:label>
    <link:label id="lab_country_ES_label_en-US" xlink:label="lab_country_ES" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SPAIN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_ES" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_ES"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_ES" xlink:to="lab_country_ES" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_897c00ae-f4f9-481f-a205-a625ed4c3b76_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Other Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOtherIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedOtherIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Other Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedOtherIncome" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedOtherIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedOtherIncome" xlink:to="lab_bxmt_RealEstateOwnedOtherIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeAxis_971471f2-2374-4cfd-ae95-6227508c506d_terseLabel_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:label id="lab_srt_RangeAxis_label_en-US" xlink:label="lab_srt_RangeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeAxis" xlink:to="lab_srt_RangeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_36135230-f726-46fd-af67-dc43a519c79d_terseLabel_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share repurchase program, authorized, amount</link:label>
    <link:label id="lab_srt_StockRepurchaseProgramAuthorizedAmount1_label_en-US" xlink:label="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Repurchase Program, Authorized, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_StockRepurchaseProgramAuthorizedAmount1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:to="lab_srt_StockRepurchaseProgramAuthorizedAmount1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_377c7c9a-2430-46dd-a3d1-c41f5296d750_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year two</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_7b3bb5ee-2835-4392-a32b-d983976b06e7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed Rate</link:label>
    <link:label id="lab_us-gaap_DerivativeFixedInterestRate_label_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Fixed Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeFixedInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeFixedInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeFixedInterestRate" xlink:to="lab_us-gaap_DerivativeFixedInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentForManagementFee_288fa46a-2cf2-4d6c-8377-865458a410d9_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentForManagementFee" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fees paid to manager</link:label>
    <link:label id="lab_us-gaap_PaymentForManagementFee_label_en-US" xlink:label="lab_us-gaap_PaymentForManagementFee" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for Management Fee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentForManagementFee" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentForManagementFee"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentForManagementFee" xlink:to="lab_us-gaap_PaymentForManagementFee" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtErrCompAmt_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:label id="lab_ecd_AggtErrCompAmt_label_en-US" xlink:label="lab_ecd_AggtErrCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompAmt" xlink:to="lab_ecd_AggtErrCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_58d568cc-57e8-4eab-a19a-675c79962615_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount of loans</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateFaceAmountOfMortgages"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:to="lab_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_7a3ed487-d622-4abd-a350-105519e91a15_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Components of Other Assets</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_4854af55-d3d6-4af8-9f80-2d3170e3c3dc_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans modified</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_label_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Modified</link:label>
    <link:label id="lab_bxmt_FinancingReceivableNumberOfLoansModified_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Number Of Loans Modified</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableNumberOfLoansModified" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableNumberOfLoansModified"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableNumberOfLoansModified" xlink:to="lab_bxmt_FinancingReceivableNumberOfLoansModified" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote</link:label>
    <link:label id="lab_ecd_PeerGroupIssuersFnTextBlock_label_en-US" xlink:label="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peer Group Issuers, Footnote [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeerGroupIssuersFnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeerGroupIssuersFnTextBlock" xlink:to="lab_ecd_PeerGroupIssuersFnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_95681d49-2c28-475e-b372-17e45f644886_terseLabel_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land and land improvements</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Land And Site Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20250930.xsd#bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation"/>
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    <link:label id="lab_us-gaap_ProceedsFromLoanOriginations1_ae57df82-70f1-4336-903d-558774491896_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLoanOriginations1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Origination and other fees received on loans receivable</link:label>
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    <link:label id="lab_bxmt_OtherRealEstateLiabilities_75c0f6bf-dcd7-4d2b-a2d9-5f507f741331_terseLabel_en-US" xlink:label="lab_bxmt_OtherRealEstateLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other real estate liabilities</link:label>
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    <link:label id="lab_bxmt_OtherRealEstateLiabilities_documentation_en-US" xlink:label="lab_bxmt_OtherRealEstateLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Real Estate Liabilities</link:label>
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    <link:label id="lab_us-gaap_OciEquityMethodInvestmentAfterTax_7682ab9e-0d6e-40e5-bbef-af7f167869e1_terseLabel_en-US" xlink:label="lab_us-gaap_OciEquityMethodInvestmentAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on derivative financial instruments from unconsolidated entities</link:label>
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    <link:label id="lab_bxmt_RiskRatingFiveMember_d2865c4f-0f98-4927-8ffc-eba325253069_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFiveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod_a3c724cb-f69c-4a4c-b4d9-410252bb2f26_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate amortized cost basis of loans</link:label>
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    <link:label id="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction_f2c54b72-25e4-498c-8bf7-db12dbb9ec1b_terseLabel_en-US" xlink:label="lab_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares sold (in shares)</link:label>
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    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan_e5a0f95f-5572-43c7-85f7-3d61ea3c9a3d_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends reinvested</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_094618cf-1aa6-4faf-9ddc-61ffc96e5cc6_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Entities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures Disclosure [Text Block]</link:label>
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    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_7d5dd080-b213-4775-b053-3d7b228dea1b_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Face Amount</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCollateralAmountFaceAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Collateral Amount, Face Amount</link:label>
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    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_a1642e4c-9a3b-419f-94d1-b4274e009729_terseLabel_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</link:label>
    <link:label id="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PrepaidExpenseCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent"/>
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    <link:label id="lab_us-gaap_ExtendedMaturityMember_ec27c91d-2a68-4ae4-a4d3-a25c76e17173_terseLabel_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity</link:label>
    <link:label id="lab_us-gaap_ExtendedMaturityMember_label_en-US" xlink:label="lab_us-gaap_ExtendedMaturityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtendedMaturityMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ExtendedMaturityMember"/>
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    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_878389f6-6d6c-43d5-ab7e-013907b7227b_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of loans subject to prepayment restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_label_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Subject To Prepayment Restrictions</link:label>
    <link:label id="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Percent Of Loans Subject To Prepayment Restrictions</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:to="lab_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_3c10ded1-d6c2-413d-a4f6-9e44ab002452_terseLabel_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Loan</link:label>
    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Junior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_TotalJuniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_TotalJuniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total Junior Loan Participation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TotalJuniorLoanParticipationMember" xlink:href="bxmt-20250930.xsd#bxmt_TotalJuniorLoanParticipationMember"/>
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    <link:label id="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage_583419dc-367f-4e1e-bb15-276147dba2f8_terseLabel_en-US" xlink:label="lab_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining loan amount in new lenders</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage" xlink:href="bxmt-20250930.xsd#bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage"/>
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    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_8e206ca9-2ccb-48c5-81d3-b2205536477b_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of income taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxesPaidNet_label_en-US" xlink:label="lab_us-gaap_IncomeTaxesPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes Paid, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxesPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxesPaidNet" xlink:to="lab_us-gaap_IncomeTaxesPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_54fe08d2-5fb6-48e1-a04a-c8ee5db2d225_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_548ba043-eb2c-4640-9eca-a358c5e4e7d5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total face value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_6bed81b7-4ab6-46b2-af60-be8f1d6abf0e_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total borrowings</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_dae2741d-c434-408c-94a2-48402780e988_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Long-term debt, face amount</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_0f96e514-da19-489a-b57f-0353b40b3d20_totalLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total obligation</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentCarryingAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsShareBasedCompensation_d0f70097-1658-4c7a-a37e-3044f38236a9_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsShareBasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred stock unit dividends declared</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsShareBasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsShareBasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsShareBasedCompensation" xlink:to="lab_us-gaap_DividendsShareBasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_4ec0787f-43a1-4d84-b4ab-25b891ad1724_verboseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loans receivable</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_64cd7be6-0efe-4101-8e15-13c6e11c9b91_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_3fc47786-7be4-49fc-bfb4-2512b95cfd0a_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_e9c5082b-bc97-4040-b6dd-0dafb8fbfafd_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss_e0669ff9-29b7-4347-bcda-693d68bb4395_netLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net book value</link:label>
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    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_5451be68-3cfd-4b0a-bbc1-0d2ae045288c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Distributions to non-controlling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
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    <link:label id="lab_ecd_TrdArrExpirationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expiration Date</link:label>
    <link:label id="lab_ecd_TrdArrExpirationDate_label_en-US" xlink:label="lab_ecd_TrdArrExpirationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Expiration Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrExpirationDate" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrExpirationDate"/>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_57f25eac-f3d5-4150-bafc-bef6f1326080_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:to="lab_us-gaap_RelatedPartyTransactionAmountsOfTransaction" xlink:type="arc" order="1"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentsTextBlock_3a45f324-1d4b-4a97-bae0-56462ba3ba5c_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Investment in Unconsolidated Entities</link:label>
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    <link:label id="lab_us-gaap_ReceivablesAbstract_a5d6f086-f678-46c3-bcb0-4bc309a668fd_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:label id="lab_us-gaap_ReceivablesAbstract_label_en-US" xlink:label="lab_us-gaap_ReceivablesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivablesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivablesAbstract"/>
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    <link:label id="lab_us-gaap_DerivativeLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative [Line Items]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems" xlink:to="lab_us-gaap_DerivativeLineItems" xlink:type="arc" order="1"/>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract_7a30f65c-54ad-4f08-8dab-93f0f6bd1c5f_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total loans receivable</link:label>
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    <link:label id="lab_us-gaap_CollateralAxis_33b619df-a766-4492-8d8a-a597d8c68a4f_terseLabel_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral [Axis]</link:label>
    <link:label id="lab_us-gaap_CollateralAxis_label_en-US" xlink:label="lab_us-gaap_CollateralAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral Held [Axis]</link:label>
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    <link:label id="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember_910e55eb-7204-4f48-9319-55d7625b2c97_terseLabel_en-US" xlink:label="lab_bxmt_A2021FL4UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021 FL4 Underlying Collateral Assets</link:label>
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    <link:label id="lab_bxmt_BankLoanPortfolioJointVentureMember_ddf5b38b-adc9-429b-b467-d5331c6fe817_verboseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture</link:label>
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    <link:label id="lab_us-gaap_ForeignExchangeForwardMember_0361aa75-9f1e-457b-a301-b3db79385ae9_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignExchangeForwardMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Exchange Forward</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignExchangeForwardMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ForeignExchangeForwardMember"/>
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    <link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_dfc631ff-c0e1-40b8-b68b-26ad96234fb9_terseLabel_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable</link:label>
    <link:label id="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy_label_en-US" xlink:label="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable [Policy Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:to="lab_us-gaap_FinanceLoansAndLeasesReceivablePolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_94b1b320-2e66-48cc-b1b3-44bb6eca38af_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings under long-term debt</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt"/>
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    <link:label id="lab_dei_CurrentFiscalYearEndDate_caeb6439-8ee9-42ee-8035-ac7e08a83fae_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
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    <link:label id="lab_country_IE_4429d3a2-f637-42c4-b756-a248cad38c93_terseLabel_en-US" xlink:label="lab_country_IE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ireland</link:label>
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    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_8bd67a30-7537-486f-9989-2fe712705480_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in assets and liabilities, net</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_8d64b424-f298-42b8-a0a2-407270b0b3f7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain"/>
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    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_65ab4746-054e-4fae-ab50-d6610c6dbf17_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition Date Fair Value</link:label>
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    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure, Gross</link:label>
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    <link:label id="lab_bxmt_LifeSciencesStudioMember_6a297eed-9a87-4aeb-9847-3ea1d273f919_terseLabel_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Life Sciences / Studio</link:label>
    <link:label id="lab_bxmt_LifeSciencesStudioMember_label_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life Sciences/Studio [Member]</link:label>
    <link:label id="lab_bxmt_LifeSciencesStudioMember_documentation_en-US" xlink:label="lab_bxmt_LifeSciencesStudioMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Life Sciences/Studio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LifeSciencesStudioMember" xlink:href="bxmt-20250930.xsd#bxmt_LifeSciencesStudioMember"/>
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    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward_75b8956f-de53-44a0-a2c9-102d055fc417_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-Average Grant Date Fair Value Per Share</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward"/>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant"/>
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    <link:label id="lab_us-gaap_ProfessionalFees_37b0bc48-ae15-4543-9bc9-3c248611b1ec_terseLabel_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Professional services</link:label>
    <link:label id="lab_us-gaap_ProfessionalFees_label_en-US" xlink:label="lab_us-gaap_ProfessionalFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Professional Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfessionalFees" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfessionalFees"/>
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    <link:label id="lab_us-gaap_DerivativeLiabilities_4ea0b402-204c-44e2-8110-283e6826ecd7_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative liabilities</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_d06e683d-c22a-4808-ae67-c78c312f8a12_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeLiabilities_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities" xlink:to="lab_us-gaap_DerivativeLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_a0a79430-79bc-49f2-ad01-6a8c3a3b0bb2_terseLabel_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves</link:label>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_label_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves [Member]</link:label>
    <link:label id="lab_bxmt_AssetSpecificCECLReservesMember_documentation_en-US" xlink:label="lab_bxmt_AssetSpecificCECLReservesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-specific CECL Reserves</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AssetSpecificCECLReservesMember" xlink:href="bxmt-20250930.xsd#bxmt_AssetSpecificCECLReservesMember"/>
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    <link:label id="lab_us-gaap_OtherNoninterestExpense_f32dc4e5-8936-43ea-97b1-54361bbe9cd7_terseLabel_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expenses</link:label>
    <link:label id="lab_us-gaap_OtherNoninterestExpense_label_en-US" xlink:label="lab_us-gaap_OtherNoninterestExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Noninterest Expense</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherNoninterestExpense" xlink:to="lab_us-gaap_OtherNoninterestExpense" xlink:type="arc" order="1"/>
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    <link:label id="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember_941a1288-a840-4652-a8fd-a4b2b1c7ea5d_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Carried At Historical Cost</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember" xlink:href="bxmt-20250930.xsd#bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember"/>
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    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Distribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions"/>
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    <link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"/>
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    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_619c0762-dbf9-4605-949c-5b72435139d5_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding</link:label>
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    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_c7304d9c-9654-415f-ba22-e1a5c9e97410_terseLabel_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash collateral</link:label>
    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_label_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Collateral For Collateralized Loan Obligations</link:label>
    <link:label id="lab_bxmt_CashCollateralForCollateralizedLoanObligations_documentation_en-US" xlink:label="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash Collateral For Collateralized Loan Obligations</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:to="lab_bxmt_CashCollateralForCollateralizedLoanObligations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_a84ce876-8755-4da0-8702-08186291f118_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments under derivative financial instruments</link:label>
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    <link:label id="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities_label_en-US" xlink:label="lab_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities</link:label>
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    <link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_bd777777-6663-4117-85bc-006827aca410_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, by Balance Sheet Grouping [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueByBalanceSheetGroupingTable"/>
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    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_df365338-9ad9-4e01-bfce-4e6031784baa_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
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    <link:label id="lab_srt_OtherPropertyMember_4e51f58f-4f4f-40cf-a10a-0748f93faea9_terseLabel_en-US" xlink:label="lab_srt_OtherPropertyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_49b383e5-f994-4f79-a6ef-649af26652a6_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash used in financing activities</link:label>
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    <link:label id="lab_ecd_MeasureAxis_terseLabel_en-US" xlink:label="lab_ecd_MeasureAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measure:</link:label>
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    <link:label id="lab_bxmt_B7TermLoanDue2029Member_7b583735-7d38-471a-8344-c83b2d6bcc1d_terseLabel_en-US" xlink:label="lab_bxmt_B7TermLoanDue2029Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-7 Term Loan</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward_9831f21d-593b-46f9-9fbc-1107ce66f5bd_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Fees / Other Items</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2025FL5SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTableTextBlock_terseLabel_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure, Table</link:label>
    <link:label id="lab_ecd_PvpTableTextBlock_label_en-US" xlink:label="lab_ecd_PvpTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTableTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTableTextBlock" xlink:to="lab_ecd_PvpTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Violation of Home Country Law, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToViolationOfHomeCountryLawAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_063737e2-3409-4c06-8c7b-519f5a2fa84d_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_480d1dfd-4a87-4107-81b9-d0aab4733105_terseLabel_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred directors&#8217; compensation</link:label>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_label_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Deferred Compensation</link:label>
    <link:label id="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation_documentation_en-US" xlink:label="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments To Additional Paid In Capital, Deferred Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:href="bxmt-20250930.xsd#bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:to="lab_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_7aeaef63-f01d-40d1-bc67-7ff63375178c_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average price per share (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Per Share Weighted Average Price of Shares Purchased</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_afead23d-601c-4b38-971a-c7fc8c819383_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionAxis_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionAxis" xlink:to="lab_us-gaap_AssetAcquisitionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_6efe4f00-74fa-4040-b132-8e2159c8d4c6_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year four</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_73fc519b-1930-4ed2-84a5-17da474e27e6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Assets and Liabilities of Consolidated VIE</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_GBP_4ae75ae7-dd38-4fee-a4f2-71ea3a2bee02_terseLabel_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">GBP</link:label>
    <link:label id="lab_currency_GBP_label_en-US" xlink:label="lab_currency_GBP" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United Kingdom, Pounds</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_GBP" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_GBP"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_GBP" xlink:to="lab_currency_GBP" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_ef86ca49-138c-4201-89d2-6c8e68fde045_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquired intangible assets</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:href="bxmt-20250930.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_2b754828-6f67-4e8a-951d-811e4b82fc4e_terseLabel_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_label_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:label id="lab_bxmt_LongTermDebtMaturityAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, After Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LongTermDebtMaturityAfterYearFour" xlink:href="bxmt-20250930.xsd#bxmt_LongTermDebtMaturityAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LongTermDebtMaturityAfterYearFour" xlink:to="lab_bxmt_LongTermDebtMaturityAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_f5815581-98a1-4356-a061-89ed89c4c3d3_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockSharesIssued"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued" xlink:to="lab_us-gaap_CommonStockSharesIssued" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_82ba4b06-5ca8-483b-b482-94bb9d3fc66d_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_17f2e111-6caf-4547-8f2d-5868ca86a6c7_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northeast</link:label>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Northeast [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesNortheastMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesNortheastMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Northeast [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesNortheastMember" xlink:href="bxmt-20250930.xsd#bxmt_UnitedStatesNortheastMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesNortheastMember" xlink:to="lab_bxmt_UnitedStatesNortheastMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_3e88a69e-95ec-4fbb-9579-b319204d0bfa_terseLabel_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real estate owned, measurement input</link:label>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_label_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant And Equipment, Measurement Input</link:label>
    <link:label id="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput_documentation_en-US" xlink:label="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property, Plant And Equipment, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:href="bxmt-20250930.xsd#bxmt_PropertyPlantAndEquipmentMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:to="lab_bxmt_PropertyPlantAndEquipmentMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TradingArrAxis_terseLabel_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangement:</link:label>
    <link:label id="lab_ecd_TradingArrAxis_label_en-US" xlink:label="lab_ecd_TradingArrAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrAxis" xlink:to="lab_ecd_TradingArrAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_terseLabel_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:label id="lab_ecd_TotalShareholderRtnAmt_label_en-US" xlink:label="lab_ecd_TotalShareholderRtnAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total Shareholder Return Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TotalShareholderRtnAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TotalShareholderRtnAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TotalShareholderRtnAmt" xlink:to="lab_ecd_TotalShareholderRtnAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_393d01f9-85d8-4488-92ad-7b64acf6d487_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate, Type of Property [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:to="lab_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_0e40e695-b40a-4c05-84e0-684e0acba1b1_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_c3cb2ab0-d2f4-4d67-a671-6dd5e353e632_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Lease Intangible Assets [Abstract]</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:to="lab_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_1bdcb48b-cf20-4582-9493-245f0edfecaa_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling loan amount</link:label>
    <link:label id="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold_label_en-US" xlink:label="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Cost of Mortgage Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:to="lab_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_ad35a938-d53f-4824-b41e-4d4370fcffe6_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 (remaining)</link:label>
    <link:label id="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_label_en-US" xlink:label="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Maturity, Remainder of Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:to="lab_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_510d43ab-1662-4551-a52c-02de9a2f9e73_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Two</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RetailSiteMember_1f03e6e1-9836-42c3-8855-3e653f2557da_terseLabel_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail</link:label>
    <link:label id="lab_srt_RetailSiteMember_label_en-US" xlink:label="lab_srt_RetailSiteMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Site [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RetailSiteMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RetailSiteMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RetailSiteMember" xlink:to="lab_srt_RetailSiteMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivablesTextBlock_00311d4f-5109-4a6e-b709-435f1c58f83c_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Receivable, Net</link:label>
    <link:label id="lab_us-gaap_FinancingReceivablesTextBlock_label_en-US" xlink:label="lab_us-gaap_FinancingReceivablesTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivables [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivablesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivablesTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivablesTextBlock" xlink:to="lab_us-gaap_FinancingReceivablesTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_880b66cd-68aa-4f66-ab05-f02ec052b5bf_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_ded7db07-1e42-41f6-a777-4e7e8fe33940_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued under dividend reinvestment program (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Dividend Reinvestment Plan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_4e26362c-1cf4-4188-bf87-786f9734ba16_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_fe26a987-6ca8-4cec-82f9-cd3dc4fbd12c_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repurchase of class A common stock (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRepurchasedDuringPeriodShares"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_1c30f47c-cf34-4ebc-af81-6301a46cda29_verboseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contributions</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Contribution</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsContribution_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsContribution" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Contribution</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_EquityMethodInvestmentsContribution" xlink:href="bxmt-20250930.xsd#bxmt_EquityMethodInvestmentsContribution"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_EquityMethodInvestmentsContribution" xlink:to="lab_bxmt_EquityMethodInvestmentsContribution" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_2b192818-1cc2-40b3-8177-5b28104e39f6_verboseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Senior secured notes, net</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesMember_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesMember" xlink:href="bxmt-20250930.xsd#bxmt_SeniorSecuredNotesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesMember" xlink:to="lab_bxmt_SeniorSecuredNotesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LivCorLLCMember_b325bbb7-a727-49ed-a6c2-daca300bda99_terseLabel_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LivCor LLC</link:label>
    <link:label id="lab_bxmt_LivCorLLCMember_label_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LivCor LLC [Member]</link:label>
    <link:label id="lab_bxmt_LivCorLLCMember_documentation_en-US" xlink:label="lab_bxmt_LivCorLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LivCor LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LivCorLLCMember" xlink:href="bxmt-20250930.xsd#bxmt_LivCorLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LivCorLLCMember" xlink:to="lab_bxmt_LivCorLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_d43477ca-83b9-465f-ba36-264fba864ebc_terseLabel_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted class A common stock earned</link:label>
    <link:label id="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation_label_en-US" xlink:label="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:to="lab_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementLineItems_4f966c8e-c093-490a-9ba2-8e474f09791c_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_label_en-US" xlink:label="lab_us-gaap_StatementLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems" xlink:to="lab_us-gaap_StatementLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtAmount_a8ca552f-970b-40ab-bfdb-5da59374f655_verboseLabel_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Repayment of debt</link:label>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtAmount_cad39aa6-845b-4fad-bdf1-d86f67f7d2a7_terseLabel_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchase of aggregate principal amount</link:label>
    <link:label id="lab_us-gaap_ExtinguishmentOfDebtAmount_label_en-US" xlink:label="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extinguishment of Debt, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ExtinguishmentOfDebtAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ExtinguishmentOfDebtAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ExtinguishmentOfDebtAmount" xlink:to="lab_us-gaap_ExtinguishmentOfDebtAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_TermLoanMember_1566cc59-dea8-47dc-b595-d118a4501cb5_terseLabel_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured term loans, net</link:label>
    <link:label id="lab_bxmt_TermLoanMember_3e1f5001-766d-429c-a2d9-5043e80b8191_netLabel_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Term Loans</link:label>
    <link:label id="lab_bxmt_TermLoanMember_label_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Loan [Member]</link:label>
    <link:label id="lab_bxmt_TermLoanMember_documentation_en-US" xlink:label="lab_bxmt_TermLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term loan.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TermLoanMember" xlink:href="bxmt-20250930.xsd#bxmt_TermLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TermLoanMember" xlink:to="lab_bxmt_TermLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted</link:label>
    <link:label id="lab_ecd_Rule10b51ArrAdoptedFlag_label_en-US" xlink:label="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Rule10b51ArrAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Rule10b51ArrAdoptedFlag" xlink:to="lab_ecd_Rule10b51ArrAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_c26292ac-7826-4ee0-812d-84c7730a6087_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockMember_4a30baea-256e-4616-ab73-2b9cd973804d_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_label_en-US" xlink:label="lab_us-gaap_CommonStockMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember" xlink:to="lab_us-gaap_CommonStockMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_ffd80740-b06b-4c72-8057-6d093e6d41ba_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_49ac332e-500a-4b90-95d1-63f14dac4111_terseLabel_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loans by principal balance, floating rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_label_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Floating Rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate_documentation_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Floating Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:href="bxmt-20250930.xsd#bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:to="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_1e7ddde7-0e8e-47c3-ad93-70cc9c2fbc9e_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_label_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:href="bxmt-20250930.xsd#bxmt_ScheduleOfSecuredCreditFacilitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:to="lab_bxmt_ScheduleOfSecuredCreditFacilitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_RangeMember_a9cdb123-ac9b-460c-8b00-3d0fa8ec3446_terseLabel_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:label id="lab_srt_RangeMember_label_en-US" xlink:label="lab_srt_RangeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statistical Measurement [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_RangeMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_RangeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_RangeMember" xlink:to="lab_srt_RangeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_6f26ebba-1394-493e-8e43-9589dc8eb92c_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Outstanding Foreign Exchange Derivatives</link:label>
    <link:label id="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_9419a0ac-fb9a-406b-a8d0-37a1a51ff85c_terseLabel_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:label id="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain_label_en-US" xlink:label="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_MortgageLoansOnRealEstateNamePropertyTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:to="lab_srt_MortgageLoansOnRealEstateNamePropertyTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_bb90bcd9-e55f-45ce-b584-3862f05fc70e_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net loss from real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income (Loss)</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncomeLoss_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income (Loss)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedIncomeLoss" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedIncomeLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedIncomeLoss" xlink:to="lab_bxmt_RealEstateOwnedIncomeLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestRateSwapMember_7a364f92-3af5-4efd-935b-b92e7c839e18_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swap</link:label>
    <link:label id="lab_us-gaap_InterestRateSwapMember_label_en-US" xlink:label="lab_us-gaap_InterestRateSwapMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Rate Swap [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestRateSwapMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestRateSwapMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestRateSwapMember" xlink:to="lab_us-gaap_InterestRateSwapMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_7edeebbe-a07a-4524-8458-6480d9eca516_terseLabel_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured Debt, Asset-Specific Debt, Term Loans, Senior Secured Notes, Convertible Notes and Deferred Financing Costs</link:label>
    <link:label id="lab_us-gaap_DebtPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DebtPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtPolicyTextBlock" xlink:to="lab_us-gaap_DebtPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_2c5dfd45-c4e8-40e9-b672-8de9452d8c4d_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of deferred financing costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_label_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Financing Costs</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfFinancingCosts"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfFinancingCosts" xlink:to="lab_us-gaap_PaymentsOfFinancingCosts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_31e683ed-485e-4f82-b582-f6a186b39e69_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Expenses</link:label>
    <link:label id="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income and Other Expense Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:to="lab_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_1489f203-8601-43b1-b0e2-1dc22e001845_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_5e68e9c5-4702-49c3-aea4-d66c3ff643ba_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income from unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_64f47907-84a4-4959-91cd-f737d878a984_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">(Loss) Income From Unconsolidated Entities</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_f9e4f661-d534-4674-82a7-d74ae537b605_terseLabel_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-6 Term Loan</link:label>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_label_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-6 Term Loan Due 2030 [Member]</link:label>
    <link:label id="lab_bxmt_B6TermLoanDue2030Member_documentation_en-US" xlink:label="lab_bxmt_B6TermLoanDue2030Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-6 Term Loan Due 2030</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B6TermLoanDue2030Member" xlink:href="bxmt-20250930.xsd#bxmt_B6TermLoanDue2030Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B6TermLoanDue2030Member" xlink:to="lab_bxmt_B6TermLoanDue2030Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_8dbeaa99-ac9e-45f5-9344-69e8932313a8_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Excluding 0.0% index rate floors, weighted-average index rate floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_label_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor, Excluding Zero Percent Interest Rate Floors</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Index Rate Floor, Excluding Zero Percent Interest Rate Floors</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_d342bfdb-a24e-4850-a9d7-3dcf2ffb73ec_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_ed49f778-672e-4119-ad50-8b4a36dad12f_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Dividend Activity</link:label>
    <link:label id="lab_us-gaap_DividendsDeclaredTableTextBlock_label_en-US" xlink:label="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Declared [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DividendsDeclaredTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsDeclaredTableTextBlock" xlink:to="lab_us-gaap_DividendsDeclaredTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingFourMember_641d7e32-b856-4c79-86c4-829d249a0688_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">4</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_5ab918a5-4d28-47e5-baa5-f99ca46dbb12_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_label_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Four [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingFourMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Four [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingFourMember" xlink:href="bxmt-20250930.xsd#bxmt_RiskRatingFourMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingFourMember" xlink:to="lab_bxmt_RiskRatingFourMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturitySeniorLoansMember_0246e97a-db10-4fcd-9608-16d82587bf3d_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans</link:label>
    <link:label id="lab_bxmt_ExtendedMaturitySeniorLoansMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturitySeniorLoansMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Senior Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturitySeniorLoansMember" xlink:href="bxmt-20250930.xsd#bxmt_ExtendedMaturitySeniorLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturitySeniorLoansMember" xlink:to="lab_bxmt_ExtendedMaturitySeniorLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_country_SE_90a98083-574c-4909-b867-efd3ff67d19f_terseLabel_en-US" xlink:label="lab_country_SE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sweden</link:label>
    <link:label id="lab_country_SE_label_en-US" xlink:label="lab_country_SE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SWEDEN</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_country_SE" xlink:href="https://xbrl.sec.gov/country/2025/country-2025.xsd#country_SE"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_country_SE" xlink:to="lab_country_SE" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAbstract_24ab6fbf-74e4-4fac-9068-5afc22927772_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash compensation expense</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAbstract_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Noncash Expense [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAbstract" xlink:to="lab_us-gaap_ShareBasedCompensationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TradingArrByIndTable_terseLabel_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual</link:label>
    <link:label id="lab_ecd_TradingArrByIndTable_label_en-US" xlink:label="lab_ecd_TradingArrByIndTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangements, by Individual [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TradingArrByIndTable" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TradingArrByIndTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TradingArrByIndTable" xlink:to="lab_ecd_TradingArrByIndTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_62d6a697-4c6a-4744-80cf-6ff953e2397d_netLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Basic (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_2966dbde-3d3b-44ae-ab00-d1e2bbe6673a_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Per share amount, basic (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EarningsPerShareBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic" xlink:to="lab_us-gaap_EarningsPerShareBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax_e696c267-10a1-4576-94ff-27653f9df217_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_0127b906-0d23-4426-9a12-12eab75ab54d_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_8fc48c90-d953-4fb8-a883-4264ae806ff6_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:label id="lab_us-gaap_MeasurementInputDiscountRateMember_label_en-US" xlink:label="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input, Discount Rate [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputDiscountRateMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputDiscountRateMember" xlink:to="lab_us-gaap_MeasurementInputDiscountRateMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_b865b577-cc17-411d-a9ab-b304c34fa36f_totalLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss) income</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_2540b527-a621-4321-b891-f6904b83fc8d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorLoanParticipationMember_92124af6-7984-4fab-af8d-1c1e21356359_terseLabel_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Participations</link:label>
    <link:label id="lab_bxmt_SeniorLoanParticipationMember_label_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loan Participation [Member]</link:label>
    <link:label id="lab_bxmt_SeniorLoanParticipationMember_documentation_en-US" xlink:label="lab_bxmt_SeniorLoanParticipationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Loan Participation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorLoanParticipationMember" xlink:href="bxmt-20250930.xsd#bxmt_SeniorLoanParticipationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorLoanParticipationMember" xlink:to="lab_bxmt_SeniorLoanParticipationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_90a01821-b4b9-4ee2-8b83-deca9db9a0cf_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeDomain_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeDomain" xlink:to="lab_us-gaap_MeasurementInputTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_AffiliatedEntityMember_e4b3a414-18ee-4f1e-a623-5f2eb42ed349_terseLabel_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliates of Manager</link:label>
    <link:label id="lab_srt_AffiliatedEntityMember_label_en-US" xlink:label="lab_srt_AffiliatedEntityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_AffiliatedEntityMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_AffiliatedEntityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_AffiliatedEntityMember" xlink:to="lab_srt_AffiliatedEntityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_cb5b8474-1060-43a5-b813-a8eb1f1640d2_terseLabel_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of benefit plans</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_label_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Stock Incentive Plans</link:label>
    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans_documentation_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Stock Incentive Plans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:href="bxmt-20250930.xsd#bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:to="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_746da970-cbd0-4f29-845b-660e26c6def6_totalLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Unrealized gain (loss) on foreign currency translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_label_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Gain (Loss) on Foreign Currency Translation</link:label>
    <link:label id="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Gain (Loss) on Foreign Currency Translation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:to="lab_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_7d6cb51d-f464-4f9e-94c1-70ea2873898c_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount charged off</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_48477a0f-755f-4597-897c-41a50e3825bd_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Charge-offs of CECL reserves</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_5c5651df-98d5-410a-ba58-64daa8553c0c_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Charge-offs</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_b015e2bc-8478-4220-8eea-0085856bc696_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liability, Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilityAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liability, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldLiabilityAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:to="lab_bxmt_LoanParticipationsSoldLiabilityAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure</link:label>
    <link:label id="lab_ecd_AwardTmgMnpiDiscTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing MNPI Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgMnpiDiscTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgMnpiDiscTextBlock" xlink:to="lab_ecd_AwardTmgMnpiDiscTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherGeneralAndAdministrativeExpense_1fdd8b46-4ff8-468d-879f-10ac1ff13bcb_terseLabel_en-US" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating and other costs</link:label>
    <link:label id="lab_us-gaap_OtherGeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherGeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_OtherGeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_36ec725b-8528-4ed2-9409-bfe9fee36b38_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">VIE</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_47f28604-c959-425b-9869-bad85794ffdd_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts and Financing Receivables [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:to="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_b022e116-5d5a-4c85-9de4-193a3015cb32_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from loans and other investments</link:label>
    <link:label id="lab_us-gaap_InterestIncomeExpenseNetAbstract_label_en-US" xlink:label="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income (Expense), Operating [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeExpenseNetAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeExpenseNetAbstract" xlink:to="lab_us-gaap_InterestIncomeExpenseNetAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_7ce1b151-0557-4047-93f9-1639ea30142a_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee minimum threshold</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Minimum Threshold</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings, Minimum Threshold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:href="bxmt-20250930.xsd#bxmt_ManagementFeeCoreEarningsMinimumThreshold"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:to="lab_bxmt_ManagementFeeCoreEarningsMinimumThreshold" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_34db86c7-4a69-4738-b8a2-536de8913ee2_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_39bc5f81-bcfe-46eb-9d0b-6648c63b5107_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in unconsolidated entities</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Equity Method Investments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:to="lab_us-gaap_PaymentsToAcquireEquityMethodInvestments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_e0972c49-101d-4a11-8d9e-e3c02b9bd4c2_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsGainLossLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_92eeae4b-7453-4406-adcb-8087ed9dc4f0_terseLabel_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l.</link:label>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_label_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l. [Member]</link:label>
    <link:label id="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member_documentation_en-US" xlink:label="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:href="bxmt-20250930.xsd#bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:to="lab_bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_d3f7b792-9359-4adf-9904-24476b905427_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationDomain_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgingDesignationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationDomain" xlink:to="lab_us-gaap_HedgingDesignationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_a44f522f-31a7-4cd2-83ce-115a90560323_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell CAD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Canadian Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Canadian Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_a5b3a847-7676-4b9d-aba9-c8333f69f57c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue from real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_49c75446-ad40-4377-bec0-c8f2404e466f_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Revenue from real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedIncome_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedIncome" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Income</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedIncome" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedIncome"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedIncome" xlink:to="lab_bxmt_RealEstateOwnedIncome" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_2aa726b1-26b4-41fa-9216-056025437dcc_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities and Equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_4dd097e6-46f2-4f3d-90af-21929342a304_terseLabel_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign Currency</link:label>
    <link:label id="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="lab_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_76a79731-be9e-4e1f-b71f-2801d7751904_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments, Gain (Loss) [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:to="lab_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipByIncomeStatementLocationByDerivativeInstrumentRiskTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_d0a07510-fd2d-4a20-80a9-8b942eb9d85c_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByBenchmarkAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="lab_us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount_fae50b1c-ed0a-42b8-95ae-9bbd258eaa8a_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Book Value, loan participation</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount_46cc2a8a-52ac-4d9d-b7b9-c15b52fba522_verboseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net, book value</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Liabilities, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldLiabilitiesAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:to="lab_bxmt_LoanParticipationsSoldLiabilitiesAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_2caf3c55-304e-4d6c-9e25-a8f36e5eb189_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate assets</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Acquired Through Foreclosure, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:href="bxmt-20250930.xsd#bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:to="lab_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedConsiderationTransferred_3960e174-d69a-4fdd-9ee2-f749de90d23b_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total acquisition price</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedConsiderationTransferred_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Consideration Transferred</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedConsiderationTransferred_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedConsiderationTransferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Consideration Transferred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedConsiderationTransferred" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedConsiderationTransferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedConsiderationTransferred" xlink:to="lab_bxmt_RealEstateOwnedConsiderationTransferred" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_dff37c04-cb07-47e3-8bac-f84535020810_negatedLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred fees and other items</link:label>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_30d876cb-4d5d-4045-bf20-e46d197e485a_negatedNetLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Deferred fees and other items</link:label>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_label_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Deferred Fees And Other Items, Increase (Decrease)</link:label>
    <link:label id="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Deferred Fees And Other Items, Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:to="lab_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_7b718898-ca70-42c5-a829-83cad2f3d675_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_f2b973c7-5449-48dd-a143-0315daa4151e_terseLabel_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract" xlink:to="lab_us-gaap_AccountingPoliciesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_9e6e1733-2e73-4b71-91ee-3324aeafc647_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskTypeDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskTypeDomain" xlink:to="lab_us-gaap_ConcentrationRiskTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_b9d8d135-ac21-4335-bdfb-0265820ed7b8_terseLabel_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, financing provided</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Weighted Average Cost Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Weighted Average Cost Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:href="bxmt-20250930.xsd#bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:to="lab_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_91551bf7-48dd-4580-8c2c-0c1d6bb1feea_terseLabel_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_label_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Items]</link:label>
    <link:label id="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems_documentation_en-US" xlink:label="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule Of Secured Credit Facilities [Line Item]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:href="bxmt-20250930.xsd#bxmt_ScheduleOfSecuredCreditFacilitiesLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:to="lab_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_b95edb9e-02b8-4501-9ebd-e3b2856e25b1_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year one</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PayVsPerformanceDisclosureLineItems_label_en-US" xlink:label="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PayVsPerformanceDisclosureLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PayVsPerformanceDisclosureLineItems" xlink:to="lab_ecd_PayVsPerformanceDisclosureLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_99b14216-a5cd-48b7-8cfd-09c9b42220a9_totalLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceived"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceived" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_389b0f24-6dfb-4e8e-b62b-fd6e684f0714_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAbstract_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAbstract" xlink:to="lab_us-gaap_LiabilitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_c5b4edd7-8548-4897-a4b8-96104859692a_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization of real estate owned</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepreciationAndAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization" xlink:to="lab_us-gaap_DepreciationAndAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_0e1a0334-255c-497f-8ee2-ada007fd7996_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value basis adjustment on hedged items</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:to="lab_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_3a6b531d-bff6-4a8b-8095-37817e57b813_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_9a95e241-17e8-4683-ba5b-3522ce65ae5f_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year three</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_33e709c5-2cd1-4a69-92cd-c0a0ff5e9414_terseLabel_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:label id="lab_ecd_CoSelectedMeasureAmt_label_en-US" xlink:label="lab_ecd_CoSelectedMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Company Selected Measure Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CoSelectedMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CoSelectedMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CoSelectedMeasureAmt" xlink:to="lab_ecd_CoSelectedMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_2376e165-e5bf-485b-8ca6-67b5599b74f4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Prior</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_ba3cf0c7-76cb-4dd5-9ff2-cf3bb7aec5ce_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses from real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_db43e85a-6f59-4659-86e0-fe985a0eb253_totalLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses from real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Expenses</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedExpenses_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedExpenses" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedExpenses"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedExpenses" xlink:to="lab_bxmt_RealEstateOwnedExpenses" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_f03d7e98-1029-4b51-95dc-dec8ea04b36d_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income (loss) attributable to Blackstone Mortgage Trust, Inc.</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTax_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="lab_us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_711de015-1ba5-42b3-873c-5ccf7189ca50_terseLabel_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:label id="lab_us-gaap_MeasurementInputTypeAxis_label_en-US" xlink:label="lab_us-gaap_MeasurementInputTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Input Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MeasurementInputTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MeasurementInputTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MeasurementInputTypeAxis" xlink:to="lab_us-gaap_MeasurementInputTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MeasureName_terseLabel_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_MeasureName_label_en-US" xlink:label="lab_ecd_MeasureName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measure Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MeasureName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MeasureName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MeasureName" xlink:to="lab_ecd_MeasureName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_8381a9dc-2bb4-4887-a394-64a12cfecdb9_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of real estate owned assets</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedNumberOfAssets_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Number Of Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedNumberOfAssets" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedNumberOfAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedNumberOfAssets" xlink:to="lab_bxmt_RealEstateOwnedNumberOfAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SecuredDebtMember_fcdf19b0-87bd-4463-9996-d1c0a5f780b1_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt, net</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SecuredDebtMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SecuredDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember" xlink:to="lab_us-gaap_SecuredDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_c51a1417-2abc-47ad-87c2-294d3d54abd7_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ClassOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ClassOfStockLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems" xlink:to="lab_us-gaap_ClassOfStockLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ParticipationsSoldLoanYield_22508f20-bafb-4958-bc30-0973a62b4862_terseLabel_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost</link:label>
    <link:label id="lab_bxmt_ParticipationsSoldLoanYield_label_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Participations Sold Loan Yield</link:label>
    <link:label id="lab_bxmt_ParticipationsSoldLoanYield_documentation_en-US" xlink:label="lab_bxmt_ParticipationsSoldLoanYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Participations Sold Loan Yield</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ParticipationsSoldLoanYield" xlink:href="bxmt-20250930.xsd#bxmt_ParticipationsSoldLoanYield"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ParticipationsSoldLoanYield" xlink:to="lab_bxmt_ParticipationsSoldLoanYield" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_6d50735f-6669-46ee-8997-85d911ba5726_terseLabel_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_label_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure_documentation_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:href="bxmt-20250930.xsd#bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:to="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilitiesTableTextBlock_06e021f5-5c5c-4b72-a657-e116a7c05bc8_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Components of Other Liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherLiabilitiesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesTableTextBlock" xlink:to="lab_us-gaap_OtherLiabilitiesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AtlantaGAMember_a66290b9-6d45-443b-b4aa-bc30c3af1336_terseLabel_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Atlanta, GA</link:label>
    <link:label id="lab_bxmt_AtlantaGAMember_label_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Atlanta, GA [Member]</link:label>
    <link:label id="lab_bxmt_AtlantaGAMember_documentation_en-US" xlink:label="lab_bxmt_AtlantaGAMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Atlanta, GA</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AtlantaGAMember" xlink:href="bxmt-20250930.xsd#bxmt_AtlantaGAMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AtlantaGAMember" xlink:to="lab_bxmt_AtlantaGAMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongTermDebt_cb779179-963b-47ce-8c01-3f306ee242b8_verboseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_890c80cc-c58b-44ba-8369-2b0a06e72153_totalLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net book value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_98532c07-ac17-4577-a7e7-c24f4acef997_netLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Book Value</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_a2c5960f-86b7-47ab-bd82-52a66134edae_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securitized debt obligations, net</link:label>
    <link:label id="lab_us-gaap_LongTermDebt_label_en-US" xlink:label="lab_us-gaap_LongTermDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt" xlink:to="lab_us-gaap_LongTermDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LegalEntityAxis_4b5f7085-8b90-4f0c-b150-4f42744f468a_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_label_en-US" xlink:label="lab_dei_LegalEntityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LegalEntityAxis" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LegalEntityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis" xlink:to="lab_dei_LegalEntityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Assets_fece3faa-955c-4f53-8972-03abc29af410_totalLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Assets</link:label>
    <link:label id="lab_us-gaap_Assets_364e4da9-5738-4bb6-a053-9939f248eaf1_terseLabel_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_label_en-US" xlink:label="lab_us-gaap_Assets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Assets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets" xlink:to="lab_us-gaap_Assets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_5d7a9566-8c74-4677-922f-020190c1c607_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_6564eaae-0700-4064-979c-1ea830d709b3_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, indebtedness to total assets, in percent</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Indebtedness, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Indebtedness, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantIndebtednessMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantIndebtednessMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_b9f79336-bd6a-460f-8df8-4913c1f2e69f_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue"/>
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    <link:label id="lab_us-gaap_RealEstateTable_3ca6f0f9-0923-4236-84e0-680a06a6480c_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:label id="lab_us-gaap_RealEstateTable_label_en-US" xlink:label="lab_us-gaap_RealEstateTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateTable" xlink:to="lab_us-gaap_RealEstateTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_8dd77dc9-f073-4414-9ed4-ae3185f0495a_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Credit Quality Indicator [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableRecordedInvestmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableRecordedInvestmentLineItems"/>
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    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_a6e89ecb-2c87-45ce-9950-7778050fc071_terseLabel_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property Type and Geographic Distribution of Properties Securing Loans in Portfolio</link:label>
    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_label_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types Of Loans In Portfolio [Table Text Block]</link:label>
    <link:label id="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Types Of Loans In Portfolio [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_TypesOfLoansInPortfolioTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:to="lab_bxmt_TypesOfLoansInPortfolioTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AuditCommitteeMember_2f36dffb-d803-4183-ad02-d200d02d5f26_terseLabel_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Audit Committee</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMember_label_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Audit Committee [Member]</link:label>
    <link:label id="lab_bxmt_AuditCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_AuditCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Audit Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AuditCommitteeMember" xlink:href="bxmt-20250930.xsd#bxmt_AuditCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AuditCommitteeMember" xlink:to="lab_bxmt_AuditCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_SegmentGeographicalDomain_b05ca745-8a4d-42f4-a3c8-cc685cd707a7_terseLabel_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:label id="lab_srt_SegmentGeographicalDomain_label_en-US" xlink:label="lab_srt_SegmentGeographicalDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_SegmentGeographicalDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_SegmentGeographicalDomain" xlink:to="lab_srt_SegmentGeographicalDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_fb3c52d7-eea0-447f-bfda-b13fe3590d8d_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes</link:label>
    <link:label id="lab_us-gaap_IncomeTaxPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_us-gaap_IncomeTaxPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_a5e2c49b-f399-4871-869f-61e54130803c_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_63846775-d080-44d8-bc71-a9ce0b3d6809_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_f430500d-2ad7-48a0-81c0-8908dc3711e1_terseLabel_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan portfolio payments held by servicer</link:label>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_label_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Portfolio Payments Held By Our Third Party Loan Servicer</link:label>
    <link:label id="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer_documentation_en-US" xlink:label="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan portfolio payments held by our third party loan servicer.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:href="bxmt-20250930.xsd#bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:to="lab_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_8d58546b-7425-47e7-98ea-3792fe43df55_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskByTypeAxis_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Type [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConcentrationRiskByTypeAxis" xlink:to="lab_us-gaap_ConcentrationRiskByTypeAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_9d43aabd-08e1-44ab-98f2-1b19282072b2_negatedLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred fees on loans</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_cc73effd-cb6b-47c8-a2db-cd77fae50686_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of fees and other items</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_f4aebc67-6e76-43bb-aeba-f8b329ebe0eb_verboseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization of fees and other items</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet_label_en-US" xlink:label="lab_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Deferred Loan Origination Fees, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AmortizationOfDeferredLoanOriginationFeesNet"/>
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    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_4a09464a-afcd-426a-b6ef-c2d0b753dfbe_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets, Fair Value Disclosure [Abstract]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsFairValueDisclosureAbstract" xlink:to="lab_us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_8dbfe0c6-56e7-4af4-b249-0bb93ee98dc7_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems" xlink:to="lab_us-gaap_VariableInterestEntityLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_b4398d60-b632-4694-a617-9b1312098063_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable rate floor</link:label>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_label_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate Floor</link:label>
    <link:label id="lab_bxmt_DebtInstrumentVariableRateFloor_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentVariableRateFloor" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Rate Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentVariableRateFloor" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentVariableRateFloor"/>
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    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_679ae6b8-0c9b-4859-ab49-83bb3b9c2061_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2029</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
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    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_a83cefab-0256-44c4-8357-bb06764baa38_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared on common stock and deferred stock units (in dollars per share)</link:label>
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    <link:label id="lab_us-gaap_RelatedPartyMember_fec2bcd9-2415-49f7-b79c-25f7276d00c3_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party</link:label>
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    <link:label id="lab_ecd_PeoMember_terseLabel_en-US" xlink:label="lab_ecd_PeoMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO</link:label>
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    <link:label id="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract_af0cc9a2-d9dd-4c97-8f7d-92431a982d69_terseLabel_en-US" xlink:label="lab_us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of non-cash investing and financing activities</link:label>
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    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax_c0fd225b-eed2-42ec-8d85-79c80ca40854_totalLabel_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
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    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet_f42ef164-d09d-4b3f-9a64-e20b09d6fa06_terseLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate liabilities, net</link:label>
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    <link:label id="lab_country_US_29e5bcc9-27fe-4360-8c57-497611f2dd98_terseLabel_en-US" xlink:label="lab_country_US" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
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    <link:label id="lab_bxmt_IndustrialMember_426b83c0-0316-4bc8-a98a-68d84156b96f_terseLabel_en-US" xlink:label="lab_bxmt_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industrial</link:label>
    <link:label id="lab_bxmt_IndustrialMember_label_en-US" xlink:label="lab_bxmt_IndustrialMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industrial [Member]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IndustrialMember" xlink:href="bxmt-20250930.xsd#bxmt_IndustrialMember"/>
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    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_ea1c0da1-a783-4304-a78d-1abefa59313d_terseLabel_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, collateral assets</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Underlying Assets, Weighted Average Yield Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Asset-Specific, Underlying Assets, Weighted Average Yield Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:href="bxmt-20250930.xsd#bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:to="lab_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_6fea9a3c-26f0-4877-a4f3-e76b0037fae1_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P</link:label>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_label_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone Securities Partners L.P</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:href="bxmt-20250930.xsd#bxmt_BlackstoneSecuritiesPartnersL.PMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:to="lab_bxmt_BlackstoneSecuritiesPartnersL.PMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RetainedEarningsMember_c59a02d9-578c-476a-a30d-ce17fcda71dc_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RetainedEarningsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember" xlink:to="lab_us-gaap_RetainedEarningsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_1120824a-bf63-4b7d-b30d-3ffed8e70e9a_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Payment Arrangement [Abstract]</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_ee921b12-2582-4f51-a9e5-b4897a2fac7a_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at beginning of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_af2967a5-ca87-499b-98de-11ba07f1fe49_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at end of period</link:label>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_label_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_d9ab45fc-f94c-4e25-89c4-2aa4adfccef5_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementAbstract_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract" xlink:to="lab_us-gaap_IncomeStatementAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeAssets_6ecd26db-0ffa-4295-9bc9-7c7449b77585_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative assets</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_34531e3e-0031-42a7-b068-b77bf5a67f6c_verboseLabel_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivatives</link:label>
    <link:label id="lab_us-gaap_DerivativeAssets_label_en-US" xlink:label="lab_us-gaap_DerivativeAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeAssets" xlink:to="lab_us-gaap_DerivativeAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseMember_c0514fc7-1db4-4c53-9a72-42dd9712ba0c_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseMember_label_en-US" xlink:label="lab_us-gaap_InterestExpenseMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseMember" xlink:to="lab_us-gaap_InterestExpenseMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SelfStorageMember_2806b9de-50ee-4704-b731-9c43be2d1c8e_terseLabel_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Self-storage</link:label>
    <link:label id="lab_bxmt_SelfStorageMember_label_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Self Storage [Member]</link:label>
    <link:label id="lab_bxmt_SelfStorageMember_documentation_en-US" xlink:label="lab_bxmt_SelfStorageMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Self Storage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SelfStorageMember" xlink:href="bxmt-20250930.xsd#bxmt_SelfStorageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SelfStorageMember" xlink:to="lab_bxmt_SelfStorageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_01aad4b1-eb3e-44ef-b1fe-e3938204cad4_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Nonrecurring</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsNonrecurringMember_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Nonrecurring [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsNonrecurringMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:to="lab_us-gaap_FairValueMeasurementsNonrecurringMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoninterestIncomeOther_0aa7d45b-c0d5-4a69-b2c2-00a500bc7ea4_terseLabel_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income</link:label>
    <link:label id="lab_us-gaap_NoninterestIncomeOther_label_en-US" xlink:label="lab_us-gaap_NoninterestIncomeOther" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noninterest Income, Other</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoninterestIncomeOther" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoninterestIncomeOther"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoninterestIncomeOther" xlink:to="lab_us-gaap_NoninterestIncomeOther" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_521c82c1-6bdf-40c4-9d25-70950deaf164_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in reserve</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_cf85e3d4-798d-429c-b71d-277f90352b94_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above market lease intangibles</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AboveMarketLeasesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AboveMarketLeasesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember" xlink:to="lab_us-gaap_AboveMarketLeasesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseDebtExcludingAmortization_2ceed84a-120f-4846-bc7d-4847130b0876_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash coupon</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebtExcludingAmortization_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt, Excluding Amortization</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseDebtExcludingAmortization"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:to="lab_us-gaap_InterestExpenseDebtExcludingAmortization" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ParentMember_3c68bec9-ad8f-4256-aa6a-a8b39683a12f_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_label_en-US" xlink:label="lab_us-gaap_ParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember" xlink:to="lab_us-gaap_ParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProfitLoss_4d3e3437-6630-461b-883c-b5c57d59e15c_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_8f237845-236a-493d-a162-49f66c6b8adb_netLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Net income (loss)</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_6b28869b-632c-4172-a5b1-7bf60809abee_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_label_en-US" xlink:label="lab_us-gaap_ProfitLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfitLoss"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss" xlink:to="lab_us-gaap_ProfitLoss" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_cf474ef8-d995-459f-bc64-5c244e5b1462_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year Three</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_terseLabel_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement does not require Recovery</link:label>
    <link:label id="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock_label_en-US" xlink:label="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Does Not Require Recovery [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDoesNotRequireRecoveryTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:to="lab_ecd_RestatementDoesNotRequireRecoveryTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_5b14a550-cb11-4cc4-8ade-329005e68e49_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notional amount</link:label>
    <link:label id="lab_us-gaap_DerivativeNotionalAmount_label_en-US" xlink:label="lab_us-gaap_DerivativeNotionalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Notional Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNotionalAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeNotionalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNotionalAmount" xlink:to="lab_us-gaap_DerivativeNotionalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_21334572-174d-47f6-9297-0d21ed67fdf7_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_1e1ee4bf-9d83-46c0-9b10-fde3306bfb4c_terseLabel_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Activity Relating to Loans Receivable Portfolio</link:label>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_label_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Activity In Loans Receivable [Table Text Block]</link:label>
    <link:label id="lab_bxmt_ActivityInLoansReceivableTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Activity In Loans Receivable Table [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_ActivityInLoansReceivableTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:to="lab_bxmt_ActivityInLoansReceivableTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherRealEstate_24cb3fb7-9459-48bc-a6a0-bd62dd7b6bdd_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other real estate assets</link:label>
    <link:label id="lab_us-gaap_OtherRealEstate_label_en-US" xlink:label="lab_us-gaap_OtherRealEstate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Real Estate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherRealEstate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherRealEstate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherRealEstate" xlink:to="lab_us-gaap_OtherRealEstate" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_c9a81273-cebe-40e6-b18b-82f5267eab2f_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_ea42beb0-4c56-4853-8ce6-f868b01c2c75_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule Of Current Expected Credit Loss Reserve By Pool</link:label>
    <link:label id="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:to="lab_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered</link:label>
    <link:label id="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock_label_en-US" xlink:label="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing, How MNPI Considered [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardTmgHowMnpiCnsdrdTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:to="lab_ecd_AwardTmgHowMnpiCnsdrdTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoan_764fdbf7-9c85-4faf-8741-4d947afa8ca1_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, total loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoan_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldTotalLoan_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold, Total Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldTotalLoan" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldTotalLoan"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldTotalLoan" xlink:to="lab_bxmt_LoanParticipationsSoldTotalLoan" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_bc8e502a-c2e0-4b86-8cfe-572ee1af4305_negatedTerseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Transfer to other assets, net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_e7855387-3141-4261-af03-d5ac92ece81f_negatedNetLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:type="resource" xml:lang="en-US">Transfer to other assets</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Transfer To Other Assets</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Transfer To Other Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_USD_bf640648-11ae-4c34-af57-a406e0fbcd58_terseLabel_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">USD</link:label>
    <link:label id="lab_currency_USD_51dc2c15-513a-492c-91dc-0845da23c965_verboseLabel_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">USD</link:label>
    <link:label id="lab_currency_USD_label_en-US" xlink:label="lab_currency_USD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States of America, Dollars</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_USD" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_USD"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_USD" xlink:to="lab_currency_USD" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_ce8ffee3-53e9-46db-bc97-cdd0e3d2836a_terseLabel_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement input</link:label>
    <link:label id="lab_us-gaap_LoansHeldForSaleMeasurementInput_label_en-US" xlink:label="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan, Held-for-Sale, Measurement Input</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansHeldForSaleMeasurementInput"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansHeldForSaleMeasurementInput" xlink:to="lab_us-gaap_LoansHeldForSaleMeasurementInput" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_525d4de0-befc-445a-9098-74df0915af48_terseLabel_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Manager</link:label>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_label_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company [Member]</link:label>
    <link:label id="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember_documentation_en-US" xlink:label="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BXMT Advisors Limited Liability Company [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:href="bxmt-20250930.xsd#bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:to="lab_bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_0c0975bf-2b1b-46b3-89ef-7c31528a61cd_terseLabel_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset-specific debt, net</link:label>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_label_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset-Specific Debt [Member]</link:label>
    <link:label id="lab_bxmt_AssetSpecificDebtMember_documentation_en-US" xlink:label="lab_bxmt_AssetSpecificDebtMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Asset-Specific Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AssetSpecificDebtMember" xlink:href="bxmt-20250930.xsd#bxmt_AssetSpecificDebtMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AssetSpecificDebtMember" xlink:to="lab_bxmt_AssetSpecificDebtMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_bd96504f-0dec-45be-a990-139ceeba703a_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_7c57db68-517c-450b-a73e-69054769d80e_verboseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">General and administrative expenses</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_414e5101-277f-4b68-8eda-dc8d3587bc22_totalLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total general and administrative expenses</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PvpTable_terseLabel_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure</link:label>
    <link:label id="lab_ecd_PvpTable_label_en-US" xlink:label="lab_ecd_PvpTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pay vs Performance Disclosure [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PvpTable" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PvpTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PvpTable" xlink:to="lab_ecd_PvpTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestReceivable_c77bcd69-bb3b-42fc-b494-c2f5977d7864_terseLabel_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest receivable</link:label>
    <link:label id="lab_us-gaap_InterestReceivable_label_en-US" xlink:label="lab_us-gaap_InterestReceivable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Receivable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestReceivable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestReceivable" xlink:to="lab_us-gaap_InterestReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueHedgingMember_3d2f9acf-43f8-48ce-8c73-204ac1f4e9a8_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hedging</link:label>
    <link:label id="lab_us-gaap_FairValueHedgingMember_label_en-US" xlink:label="lab_us-gaap_FairValueHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hedging [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueHedgingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueHedgingMember" xlink:to="lab_us-gaap_FairValueHedgingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncentiveFeeExpense_6362ee56-fbfe-4a77-b6dc-64a9afc82021_verboseLabel_en-US" xlink:label="lab_us-gaap_IncentiveFeeExpense" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total incentive compensation payments</link:label>
    <link:label id="lab_us-gaap_IncentiveFeeExpense_label_en-US" xlink:label="lab_us-gaap_IncentiveFeeExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incentive Fee Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncentiveFeeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncentiveFeeExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncentiveFeeExpense" xlink:to="lab_us-gaap_IncentiveFeeExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_918e5624-eb8a-4370-bf4c-e794aaa0877c_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_336758e8-2444-42c2-b3ba-2c9a7f95b2e0_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Origination and other fees received on loans receivable</link:label>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_label_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Loan Origination And Other Loan Receivable Fees</link:label>
    <link:label id="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees_documentation_en-US" xlink:label="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds From Loan Origination And Other Loan Receivable Fees</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:href="bxmt-20250930.xsd#bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:to="lab_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A1.51To1.75Member_0dba5563-1f8d-47c5-998c-90c59c4cac0a_terseLabel_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.51% to + 1.75%</link:label>
    <link:label id="lab_bxmt_A1.51To1.75Member_label_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.51% To 1.75% [Member]</link:label>
    <link:label id="lab_bxmt_A1.51To1.75Member_documentation_en-US" xlink:label="lab_bxmt_A1.51To1.75Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.51% To 1.75%</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.51To1.75Member" xlink:href="bxmt-20250930.xsd#bxmt_A1.51To1.75Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.51To1.75Member" xlink:to="lab_bxmt_A1.51To1.75Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherLiabilities_ed1396de-dbbe-44cb-9f6f-d49482c669d3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_084d8a07-9b66-494c-84b0-37a54bb92f1e_totalLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_65bae474-5ba3-4a86-a879-f5e47c88813b_verboseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilities_label_en-US" xlink:label="lab_us-gaap_OtherLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilities" xlink:to="lab_us-gaap_OtherLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_d67cb4ed-e0bf-47f8-8ee9-cd97c7c33832_terseLabel_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">October 2021</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_label_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Secured Notes Due 2027 [Member]</link:label>
    <link:label id="lab_bxmt_SeniorSecuredNotesDue2027Member_documentation_en-US" xlink:label="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Secured Notes Due 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorSecuredNotesDue2027Member" xlink:href="bxmt-20250930.xsd#bxmt_SeniorSecuredNotesDue2027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorSecuredNotesDue2027Member" xlink:to="lab_bxmt_SeniorSecuredNotesDue2027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_cc6eac4b-65d3-4b75-a932-2989b2d65d0e_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell AUD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Australian Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Australian Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NonUsMember_1e250a0e-78a2-4684-8440-11f03de848b0_terseLabel_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subtotal</link:label>
    <link:label id="lab_us-gaap_NonUsMember_label_en-US" xlink:label="lab_us-gaap_NonUsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-US [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonUsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NonUsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonUsMember" xlink:to="lab_us-gaap_NonUsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_8817292b-3ccc-40ff-9488-94fc8c757889_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Northwest</link:label>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Northwest [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesNorthwestMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesNorthwestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Northwest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesNorthwestMember" xlink:href="bxmt-20250930.xsd#bxmt_UnitedStatesNorthwestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesNorthwestMember" xlink:to="lab_bxmt_UnitedStatesNorthwestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_14ae7bdd-8d16-4df6-a215-ef900708e005_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average cash coupon (percentage)</link:label>
    <link:label id="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate_label_en-US" xlink:label="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableBasisSpreadOnVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:to="lab_us-gaap_LoansReceivableBasisSpreadOnVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_da077952-168a-433d-bf68-6db719772220_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Line Items]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Line Items]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldLineItems_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldLineItems" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldLineItems" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldLineItems" xlink:to="lab_bxmt_LoanParticipationsSoldLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_57ce6647-6364-4efe-8023-869fcbb080f8_terseLabel_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Assets and Liabilities</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_label_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure [Text Block]</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other assets and liabilities disclosure.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:to="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_923f42de-2bd1-45a9-83b8-518fd47b3ad7_terseLabel_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee</link:label>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_label_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee [Member]</link:label>
    <link:label id="lab_bxmt_CorporateGovernanceCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate Governance Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CorporateGovernanceCommitteeMember" xlink:href="bxmt-20250930.xsd#bxmt_CorporateGovernanceCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CorporateGovernanceCommitteeMember" xlink:to="lab_bxmt_CorporateGovernanceCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_52f63751-65eb-4266-ab0a-7860b40d730c_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Owned Assets</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_label_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure Financial Statements, Disclosure [Table Text Block]</link:label>
    <link:label id="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Acquired Through Foreclosure Financial Statements, Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:to="lab_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_73462897-cf1d-4632-bf00-07091e79e401_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental disclosure of cash flows information</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_terseLabel_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:label id="lab_ecd_OtherPerfMeasureAmt_label_en-US" xlink:label="lab_ecd_OtherPerfMeasureAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Performance Measure, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_OtherPerfMeasureAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_OtherPerfMeasureAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_OtherPerfMeasureAmt" xlink:to="lab_ecd_OtherPerfMeasureAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_3b63025a-a219-41f5-8dc6-66203aa02b99_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized (loss) gain on foreign currency translation</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_492cbd69-9473-4bb9-9539-e059b21787ff_terseLabel_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</link:label>
    <link:label id="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths_label_en-US" xlink:label="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lessor, Operating Lease, Payment to be Received, Year One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:to="lab_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyDomain_417ddfc9-a3d9-4af6-82b5-e2b1cf90c9d5_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Domain]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain" xlink:to="lab_us-gaap_RelatedPartyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Dividends_c4eea992-a4ab-453a-adb2-2344f7d54c55_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Dividends declared on common stock and deferred stock units</link:label>
    <link:label id="lab_us-gaap_Dividends_dc44394d-0916-47df-9663-7b985b4d755b_totalLabel_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Dividends, total</link:label>
    <link:label id="lab_us-gaap_Dividends_label_en-US" xlink:label="lab_us-gaap_Dividends" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Dividends" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Dividends"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Dividends" xlink:to="lab_us-gaap_Dividends" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_fe35840b-3777-4d5d-bfbe-dbe3af3c4de1_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Book Value</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance for Credit Loss [Roll Forward]</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance for Credit Loss</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_6c1474c1-d4da-4f38-8cc0-3e7407011f71_totalLabel_en-US" xlink:label="lab_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase (decrease) in cash and cash equivalents</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect"/>
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    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_73893e4b-18d2-4092-abd4-30784baabe97_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentRiskAxis_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentRiskAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentRiskAxis" xlink:to="lab_us-gaap_DerivativeInstrumentRiskAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VestingAxis_c062c92b-6662-416b-aa12-0fc5ba9945c5_terseLabel_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:label id="lab_us-gaap_VestingAxis_label_en-US" xlink:label="lab_us-gaap_VestingAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VestingAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VestingAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingAxis" xlink:to="lab_us-gaap_VestingAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RestrictedCash_38456e19-b0b0-4e7d-925d-94afd487e89f_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCash_label_en-US" xlink:label="lab_us-gaap_RestrictedCash" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedCash"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCash" xlink:to="lab_us-gaap_RestrictedCash" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_25302583-3c9a-4134-b1e1-33e7a6fe0a92_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements</link:label>
    <link:label id="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy_label_en-US" xlink:label="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value of Financial Instruments, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueOfFinancialInstrumentsPolicy"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:to="lab_us-gaap_FairValueOfFinancialInstrumentsPolicy" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_4553a6d4-561e-43e0-8952-9ce7ff416a42_terseLabel_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:label id="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract_label_en-US" xlink:label="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:to="lab_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_7c530aec-a133-4725-ad0c-edb7d2f86f48_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_874ffd2d-22a9-45ed-af42-70951735dbe8_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Unamortized Loan Cost (Fee) and Purchase Premium (Discount)</link:label>
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    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_23d0e626-b7d9-4309-9e8b-135da28d5c0c_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital, Common Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_6d605d9f-6db6-4d7b-9e68-aec3f6d14598_verboseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Operating expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Operating Expenses</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedOperatingExpenses_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedOperatingExpenses" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Operating Expenses</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedOperatingExpenses" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedOperatingExpenses"/>
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    <link:label id="lab_dei_EntityDomain_6d011217-85df-4c9a-b024-21da00a8922b_terseLabel_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_label_en-US" xlink:label="lab_dei_EntityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityDomain" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityDomain"/>
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    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_29ecebed-675e-411e-a35e-0550a73d02c9_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Investing Activity, Including Discontinued Operation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Change in Present Value of Accumulated Benefit for All Pension Plans Reported in Summary Compensation Table</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtChngPnsnValInSummryCompstnTblForAplblYrMember"/>
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    <link:label id="lab_us-gaap_InterestPaidNet_d6e93c5b-298a-44aa-b67a-756529e15e19_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of interest</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestPaidNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet" xlink:to="lab_us-gaap_InterestPaidNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_4ed935c2-8067-411b-9510-5e591912c2fa_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, percentage of recourse indebtedness</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Recourse Indebtedness, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Recourse Indebtedness, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentFiscalYearFocus_e28f1546-73ba-46fa-8200-900b3d8b231a_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentFiscalYearFocus" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentFiscalYearFocus"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus" xlink:to="lab_dei_DocumentFiscalYearFocus" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_5b30e8ce-b96e-41cc-a7bb-4f646bf7fd8f_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanExposureRiskMember_b5adfdd2-fe3d-49a6-96ab-5f5defb8f59f_terseLabel_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk</link:label>
    <link:label id="lab_bxmt_LoanExposureRiskMember_label_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk [Member]</link:label>
    <link:label id="lab_bxmt_LoanExposureRiskMember_documentation_en-US" xlink:label="lab_bxmt_LoanExposureRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Exposure Risk</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanExposureRiskMember" xlink:href="bxmt-20250930.xsd#bxmt_LoanExposureRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanExposureRiskMember" xlink:to="lab_bxmt_LoanExposureRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure_706f7221-7128-462a-99d8-05679129ff33_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Loan Exposure</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Loan Exposure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_a73909bc-a5cc-42b5-baa2-3eaa24a169b5_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of equity distribution agreements</link:label>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_label_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Number Of Equity Distribution Agreements</link:label>
    <link:label id="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Number Of Equity Distribution Agreements</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:href="bxmt-20250930.xsd#bxmt_SaleOfStockNumberOfEquityDistributionAgreements"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:to="lab_bxmt_SaleOfStockNumberOfEquityDistributionAgreements" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_c16cd3de-2121-4483-b29a-9e5130e19e79_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy EUR / Sell USD Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy European Dollar Sell United States Dollar [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy European Dollar Sell United States Dollar</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyEuropeanDollarSellUnitedStatesDollarMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_1edf187a-7025-47e1-a712-d71561a6d621_terseLabel_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other components</link:label>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Assets Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20250930.xsd#bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:to="lab_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansModified_ccaa5625-bbd2-45c3-b279-b26fa88de1f3_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans modified</link:label>
    <link:label id="lab_bxmt_NumberOfLoansModified_label_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Modified</link:label>
    <link:label id="lab_bxmt_NumberOfLoansModified_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansModified" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans Modified</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansModified" xlink:href="bxmt-20250930.xsd#bxmt_NumberOfLoansModified"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansModified" xlink:to="lab_bxmt_NumberOfLoansModified" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_051c3b4a-8cdb-4cbf-ae30-58348deded48_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation cost expected to be recognized over weighted average period (in years)</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RealEstateAbstract_label_en-US" xlink:label="lab_us-gaap_RealEstateAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAbstract" xlink:to="lab_us-gaap_RealEstateAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFourMember_0d830051-43ca-4fcc-be91-38eec056bf7f_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFourMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFourMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanFourMember" xlink:href="bxmt-20250930.xsd#bxmt_ExtendedMaturityLoanFourMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanFourMember" xlink:to="lab_bxmt_ExtendedMaturityLoanFourMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityAbstract_e6ea5542-069b-4430-8c2e-721744552e26_terseLabel_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:label id="lab_us-gaap_EquityAbstract_label_en-US" xlink:label="lab_us-gaap_EquityAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityAbstract" xlink:to="lab_us-gaap_EquityAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeniorNotes_fd6e8a98-75d2-42c0-8951-493b41cf0199_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior secured notes, net</link:label>
    <link:label id="lab_us-gaap_SeniorNotes_label_en-US" xlink:label="lab_us-gaap_SeniorNotes" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Notes</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorNotes" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SeniorNotes"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotes" xlink:to="lab_us-gaap_SeniorNotes" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_BuildingMember_fa7286b1-4034-42c7-a584-a1409bade0b3_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building</link:label>
    <link:label id="lab_us-gaap_BuildingMember_label_en-US" xlink:label="lab_us-gaap_BuildingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BuildingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BuildingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingMember" xlink:to="lab_us-gaap_BuildingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_85790e69-b701-4712-a6c5-41a8cb5ba2ac_terseLabel_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities</link:label>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_label_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities [Member]</link:label>
    <link:label id="lab_bxmt_UnconsolidatedEntitiesMember_documentation_en-US" xlink:label="lab_bxmt_UnconsolidatedEntitiesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unconsolidated Entities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnconsolidatedEntitiesMember" xlink:href="bxmt-20250930.xsd#bxmt_UnconsolidatedEntitiesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnconsolidatedEntitiesMember" xlink:to="lab_bxmt_UnconsolidatedEntitiesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_f484602c-eb4f-409d-854c-2e904f9d8baf_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments</link:label>
    <link:label id="lab_us-gaap_DerivativesPolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_DerivativesPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativesPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativesPolicyTextBlock" xlink:to="lab_us-gaap_DerivativesPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_d936918e-f1a5-4cdc-b974-1040785ab8ad_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment Reporting</link:label>
    <link:label id="lab_us-gaap_SegmentReportingDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentReportingDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="lab_us-gaap_SegmentReportingDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A1.76To2.00Member_a74ed731-42cc-419a-8aaf-8954ac55ba32_terseLabel_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">+ 1.76% to + 2.00%</link:label>
    <link:label id="lab_bxmt_A1.76To2.00Member_label_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">1.76% To 2.00% [Member]</link:label>
    <link:label id="lab_bxmt_A1.76To2.00Member_documentation_en-US" xlink:label="lab_bxmt_A1.76To2.00Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">1.76% To 2.00%</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A1.76To2.00Member" xlink:href="bxmt-20250930.xsd#bxmt_A1.76To2.00Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A1.76To2.00Member" xlink:to="lab_bxmt_A1.76To2.00Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_f37febae-f8b6-4df9-9951-be748e86a35d_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NondesignatedMember_1a8ed901-e7f2-4fa1-bdd1-f99f38cd0164_terseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivatives not designated as hedging instruments</link:label>
    <link:label id="lab_us-gaap_NondesignatedMember_6e060f17-0b1e-4cd2-a43b-50506e9732ec_verboseLabel_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-Designated Hedges</link:label>
    <link:label id="lab_us-gaap_NondesignatedMember_label_en-US" xlink:label="lab_us-gaap_NondesignatedMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not Designated as Hedging Instrument [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NondesignatedMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NondesignatedMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NondesignatedMember" xlink:to="lab_us-gaap_NondesignatedMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SeniorLoansMember_705a7440-eb73-48ca-b085-3688b53e215e_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Loans</link:label>
    <link:label id="lab_us-gaap_SeniorLoansMember_label_en-US" xlink:label="lab_us-gaap_SeniorLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loans [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SeniorLoansMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SeniorLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorLoansMember" xlink:to="lab_us-gaap_SeniorLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_21c4a484-ca8d-4c1b-bf60-7f7572ebe96a_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_11441293-b60d-4bd2-aa6c-1be1802c36aa_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_terseLabel_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return</link:label>
    <link:label id="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock_label_en-US" xlink:label="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compensation Actually Paid vs. Total Shareholder Return [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:to="lab_ecd_CompActuallyPaidVsTotalShareholderRtnTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_ada79616-38ec-4605-9d03-7ef0692d055f_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Midwest</link:label>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Midwest [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesMidwestMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesMidwestMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States Midwest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesMidwestMember" xlink:href="bxmt-20250930.xsd#bxmt_UnitedStatesMidwestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesMidwestMember" xlink:to="lab_bxmt_UnitedStatesMidwestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_b610bb50-9f45-4f19-8ca7-78d1dd564e10_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Measurements, Recurring and Nonrecurring [Table]</link:label>
    <link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value, Recurring and Nonrecurring [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UniqueLoansMember_bb246041-0d0e-4df4-971a-50750a0a078e_terseLabel_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unique Loans</link:label>
    <link:label id="lab_bxmt_UniqueLoansMember_label_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unique Loans [Member]</link:label>
    <link:label id="lab_bxmt_UniqueLoansMember_documentation_en-US" xlink:label="lab_bxmt_UniqueLoansMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unique Loans.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UniqueLoansMember" xlink:href="bxmt-20250930.xsd#bxmt_UniqueLoansMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UniqueLoansMember" xlink:to="lab_bxmt_UniqueLoansMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_WeightedAverageMember_8b0335e6-428a-4024-94f0-2d133567b23a_terseLabel_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted Average</link:label>
    <link:label id="lab_srt_WeightedAverageMember_label_en-US" xlink:label="lab_srt_WeightedAverageMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_WeightedAverageMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_WeightedAverageMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_WeightedAverageMember" xlink:to="lab_srt_WeightedAverageMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LoansReceivableMember_bef5be19-47b8-465d-afd3-72ec08e99b44_terseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total loans receivable</link:label>
    <link:label id="lab_us-gaap_LoansReceivableMember_label_en-US" xlink:label="lab_us-gaap_LoansReceivableMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoansReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoansReceivableMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableMember" xlink:to="lab_us-gaap_LoansReceivableMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_7709d6f9-58dc-4da9-b10c-ae3cf193101a_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_427dbca4-e586-4419-9404-b2b97e15aaa7_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockRepurchasedDuringPeriodValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock_b71b1af5-65b1-4eac-b02c-efd6ab6efc6a_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Policy [Policy Text Block]</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Policy</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedPolicyPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:to="lab_bxmt_RealEstateOwnedPolicyPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_96b2e7ef-37a2-4d1a-8924-30d4c1aa3726_terseLabel_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Count</link:label>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_label_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Number Of Loans</link:label>
    <link:label id="lab_bxmt_LongTermDebtNumberOfLoans_documentation_en-US" xlink:label="lab_bxmt_LongTermDebtNumberOfLoans" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LongTermDebtNumberOfLoans" xlink:href="bxmt-20250930.xsd#bxmt_LongTermDebtNumberOfLoans"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LongTermDebtNumberOfLoans" xlink:to="lab_bxmt_LongTermDebtNumberOfLoans" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_OtherCurrencyMember_4fb08a44-f8e3-4b03-be5d-61dadaf8869e_verboseLabel_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-USD</link:label>
    <link:label id="lab_srt_OtherCurrencyMember_c0f1bca7-9565-49aa-9c75-fc219c8b59b4_terseLabel_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label id="lab_srt_OtherCurrencyMember_label_en-US" xlink:label="lab_srt_OtherCurrencyMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Currency [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_OtherCurrencyMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_OtherCurrencyMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_OtherCurrencyMember" xlink:to="lab_srt_OtherCurrencyMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_a0d5e937-d290-4952-81f4-a40e3b5df31c_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Convertible, Conversion Ratio</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentConvertibleConversionRatio1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:to="lab_us-gaap_DebtInstrumentConvertibleConversionRatio1" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_7a985b7f-2394-497d-8ecb-16f84e513ee6_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss) income</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), before Tax [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MezzanineLoanMember_7e37971d-8d4d-422e-b123-d901b48a04d8_terseLabel_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:label id="lab_bxmt_MezzanineLoanMember_label_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mezzanine Loan [Member]</link:label>
    <link:label id="lab_bxmt_MezzanineLoanMember_documentation_en-US" xlink:label="lab_bxmt_MezzanineLoanMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mezzanine Loan</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MezzanineLoanMember" xlink:href="bxmt-20250930.xsd#bxmt_MezzanineLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MezzanineLoanMember" xlink:to="lab_bxmt_MezzanineLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities_13c431c2-1039-45b6-beec-e48b79f05c29_terseLabel_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of dilutive securities - convertible notes (in shares)</link:label>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities_label_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:to="lab_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansCount_96a2a714-404d-463a-b135-58164a10c148_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans count</link:label>
    <link:label id="lab_bxmt_NumberOfLoansCount_label_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Count</link:label>
    <link:label id="lab_bxmt_NumberOfLoansCount_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansCount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of loans count.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansCount" xlink:href="bxmt-20250930.xsd#bxmt_NumberOfLoansCount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansCount" xlink:to="lab_bxmt_NumberOfLoansCount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_a41869f5-d8d0-465e-9d4c-58fe1824cf5e_terseLabel_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management core earnings fee percentage</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_label_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings Fee, Percentage</link:label>
    <link:label id="lab_bxmt_ManagementFeeCoreEarningsFeePercentage_documentation_en-US" xlink:label="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Management Fee, Core Earnings Fee, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:href="bxmt-20250930.xsd#bxmt_ManagementFeeCoreEarningsFeePercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:to="lab_bxmt_ManagementFeeCoreEarningsFeePercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_580f3a18-6464-4b6e-bbeb-8c653a544915_terseLabel_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loans by principal balance, fixed rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_label_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Fixed Rate</link:label>
    <link:label id="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate_documentation_en-US" xlink:label="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loans Receivable, Percentage Of Loans By Principal Balance, Fixed Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:href="bxmt-20250930.xsd#bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:to="lab_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrDuration_terseLabel_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangement Duration</link:label>
    <link:label id="lab_ecd_TrdArrDuration_label_en-US" xlink:label="lab_ecd_TrdArrDuration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Duration</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrDuration" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrDuration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrDuration" xlink:to="lab_ecd_TrdArrDuration" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_39dcef3e-35a1-429f-a35b-56f37e63ee16_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate unfunded loan commitments</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Committed Financings</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Committed Financings</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:href="bxmt-20250930.xsd#bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_LocalPhoneNumber_ce113708-b443-43c7-9170-3f82714d7cfa_terseLabel_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:label id="lab_dei_LocalPhoneNumber_label_en-US" xlink:label="lab_dei_LocalPhoneNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Local Phone Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_LocalPhoneNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LocalPhoneNumber" xlink:to="lab_dei_LocalPhoneNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_terseLabel_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure</link:label>
    <link:label id="lab_ecd_Additional402vDisclosureTextBlock_label_en-US" xlink:label="lab_ecd_Additional402vDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional 402(v) Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_Additional402vDisclosureTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_Additional402vDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_Additional402vDisclosureTextBlock" xlink:to="lab_ecd_Additional402vDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SharePrice_db297e8d-57ce-4e45-9b42-749298502589_terseLabel_en-US" xlink:label="lab_us-gaap_SharePrice" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share price (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_SharePrice_label_en-US" xlink:label="lab_us-gaap_SharePrice" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Price</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SharePrice" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SharePrice"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharePrice" xlink:to="lab_us-gaap_SharePrice" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_bddf523f-85a2-4f09-a62e-828336d68164_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock-Based Incentive Plans</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_338256fa-47d5-4623-ab0b-86c31efbac19_verboseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_92e73939-bf9c-46e1-8eec-1e21265c6e5d_terseLabel_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current expected credit loss reserves for unfunded loan commitments</link:label>
    <link:label id="lab_us-gaap_OffBalanceSheetCreditLossLiability_label_en-US" xlink:label="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OffBalanceSheetCreditLossLiability"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OffBalanceSheetCreditLossLiability" xlink:to="lab_us-gaap_OffBalanceSheetCreditLossLiability" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetsAbstract_dd10454f-01f4-47f0-a0bf-177dfc99bdc8_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_734e0e3d-5126-4da0-bd71-1340f5aca326_netLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_91c4d482-f8da-4489-82c2-27a0e206dc53_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract" xlink:to="lab_us-gaap_AssetsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_79c817c0-bb40-40e1-9b30-16e2041d8df2_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation paid in the form of deferred stock units</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Stock</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationStock_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationStock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Stock</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationStock" xlink:href="bxmt-20250930.xsd#bxmt_AnnualDirectorCompensationStock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationStock" xlink:to="lab_bxmt_AnnualDirectorCompensationStock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityAxis_d6951895-cccb-416e-be4a-52f290e1f78d_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityAxis_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditFacilityAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis" xlink:to="lab_us-gaap_CreditFacilityAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_1739f839-080b-4ef6-b9a2-99f0e64163cb_terseLabel_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sunbelt</link:label>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_label_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States, Sunbelt [Member]</link:label>
    <link:label id="lab_bxmt_UnitedStatesSunbeltMember_documentation_en-US" xlink:label="lab_bxmt_UnitedStatesSunbeltMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">United States, Sunbelt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_UnitedStatesSunbeltMember" xlink:href="bxmt-20250930.xsd#bxmt_UnitedStatesSunbeltMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_UnitedStatesSunbeltMember" xlink:to="lab_bxmt_UnitedStatesSunbeltMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_terseLabel_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change</link:label>
    <link:label id="lab_ecd_UndrlygSecurityMktPriceChngPct_label_en-US" xlink:label="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Underlying Security Market Price Change, Percent</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_UndrlygSecurityMktPriceChngPct"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_UndrlygSecurityMktPriceChngPct" xlink:to="lab_ecd_UndrlygSecurityMktPriceChngPct" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_b2ccf8dc-0a81-44b9-98ad-0581f0d2538b_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis" xlink:to="lab_us-gaap_DebtInstrumentAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_07fca1d9-c734-4c1a-9594-d059ffbc5a95_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RevenueRecognitionInterest_269d14a9-d76d-47f2-a3a7-4111f3441e10_terseLabel_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue Recognition</link:label>
    <link:label id="lab_us-gaap_RevenueRecognitionInterest_label_en-US" xlink:label="lab_us-gaap_RevenueRecognitionInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Recognition, Interest [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueRecognitionInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevenueRecognitionInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenueRecognitionInterest" xlink:to="lab_us-gaap_RevenueRecognitionInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_6345ea48-8596-49cf-addc-e14b415d7978_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Values</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_0de296e4-3e24-4022-8ded-051d8efdfc0d_terseLabel_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_label_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2 [Member]</link:label>
    <link:label id="lab_bxmt_BankLoanPortfolioJointVenture2Member_documentation_en-US" xlink:label="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank Loan Portfolio Joint Venture 2</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BankLoanPortfolioJointVenture2Member" xlink:href="bxmt-20250930.xsd#bxmt_BankLoanPortfolioJointVenture2Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BankLoanPortfolioJointVenture2Member" xlink:to="lab_bxmt_BankLoanPortfolioJointVenture2Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_8a201296-f923-4ab3-a0ef-7efb970b0201_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on extinguishment of debt</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_86e8e2b0-0af0-4890-bc4a-fc4a5f763ff6_negatedLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on extinguishment of debt</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Extinguishment of Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CreditFacilityDomain_49aac3b7-c871-48da-a5cd-5e8fe3456c74_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:label id="lab_us-gaap_CreditFacilityDomain_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Credit Facility [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CreditFacilityDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CreditFacilityDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain" xlink:to="lab_us-gaap_CreditFacilityDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_a83705fb-fb9b-4657-8f43-0cc4addf3030_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Rate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_adf1a514-5d40-44e2-a9bd-5e28802d2a62_terseLabel_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:label id="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_label_en-US" xlink:label="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:to="lab_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_74ea0f48-ce06-4645-b40c-0cca4a09f092_terseLabel_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renewal term (in years)</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_label_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Renewal Term</link:label>
    <link:label id="lab_bxmt_RelatedPartyTransactionRenewalTerm_documentation_en-US" xlink:label="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Renewal Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RelatedPartyTransactionRenewalTerm" xlink:href="bxmt-20250930.xsd#bxmt_RelatedPartyTransactionRenewalTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RelatedPartyTransactionRenewalTerm" xlink:to="lab_bxmt_RelatedPartyTransactionRenewalTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_B5TermLoanDue2028Member_1590b19a-2b2d-4670-87a1-8283f2c8531a_terseLabel_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B-5 Term Loan</link:label>
    <link:label id="lab_bxmt_B5TermLoanDue2028Member_label_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">B-5 Term Loan Due 2028 [Member]</link:label>
    <link:label id="lab_bxmt_B5TermLoanDue2028Member_documentation_en-US" xlink:label="lab_bxmt_B5TermLoanDue2028Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B-5 Term Loan Due 2028</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_B5TermLoanDue2028Member" xlink:href="bxmt-20250930.xsd#bxmt_B5TermLoanDue2028Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_B5TermLoanDue2028Member" xlink:to="lab_bxmt_B5TermLoanDue2028Member" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ManagementFeePayable_20e36a96-0be7-44c7-be5d-2fa144d0ce9d_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeePayable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management fee payable</link:label>
    <link:label id="lab_us-gaap_ManagementFeePayable_label_en-US" xlink:label="lab_us-gaap_ManagementFeePayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fee Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ManagementFeePayable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ManagementFeePayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeePayable" xlink:to="lab_us-gaap_ManagementFeePayable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsidiaryOfCommonParentMember_dec126e2-98d5-4639-b5d5-4aa103d8c0a0_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary of Common Parent</link:label>
    <link:label id="lab_us-gaap_SubsidiaryOfCommonParentMember_label_en-US" xlink:label="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary of Common Parent [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsidiaryOfCommonParentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsidiaryOfCommonParentMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiaryOfCommonParentMember" xlink:to="lab_us-gaap_SubsidiaryOfCommonParentMember" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_14fc7bdd-5a5c-4dd1-bd47-3ac98a1716db_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_c08ed4e9-cce0-481c-948f-aa6924849c20_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2.01% to 3.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 2.01% To 3.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable2.01To3.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 2.01% To 3.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivable2.01To3.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable2.01To3.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_terseLabel_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method</link:label>
    <link:label id="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock_label_en-US" xlink:label="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Price or TSR Estimation Method [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_StkPrcOrTsrEstimationMethodTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:to="lab_ecd_StkPrcOrTsrEstimationMethodTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_c0196e0a-b0ed-4a34-992e-a37ffb4a5b7e_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">0.00% or no floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.00% Or No Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable0.00OrNoFloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 0.00% Or No Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivable0.00OrNoFloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:to="lab_bxmt_FinancingReceivable0.00OrNoFloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NumberOfOperatingSegments_4228f6e4-f2dc-4a1b-808c-cc7d542fa84e_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operating segments</link:label>
    <link:label id="lab_us-gaap_NumberOfOperatingSegments_label_en-US" xlink:label="lab_us-gaap_NumberOfOperatingSegments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Operating Segments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NumberOfOperatingSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NumberOfOperatingSegments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfOperatingSegments" xlink:to="lab_us-gaap_NumberOfOperatingSegments" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_853d79e7-196d-4d41-b004-f9402990566e_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee And Loan In Process [Roll Forward]</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee And Loan In Process</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_7cb916f5-5e30-4a26-a088-f83b7f36b77d_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_c44dc119-90f1-4847-aa61-40bea26d7074_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related and Nonrelated Parties [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_995963d1-a447-47d2-b66d-3a59849b41e6_terseLabel_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual cash compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_label_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Additional Compensation</link:label>
    <link:label id="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation_documentation_en-US" xlink:label="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Annual Director Compensation, Additional Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:href="bxmt-20250930.xsd#bxmt_AnnualDirectorCompensationAdditionalCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:to="lab_bxmt_AnnualDirectorCompensationAdditionalCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_RestatementDateAxis_terseLabel_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement Determination Date:</link:label>
    <link:label id="lab_ecd_RestatementDateAxis_label_en-US" xlink:label="lab_ecd_RestatementDateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restatement Determination Date [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_RestatementDateAxis" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_RestatementDateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_RestatementDateAxis" xlink:to="lab_ecd_RestatementDateAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_cde37fef-2745-4918-8a42-46915f015c57_terseLabel_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital expenditures on real estate owned</link:label>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_label_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital Expenditure, Real Estate Owned</link:label>
    <link:label id="lab_bxmt_CapitalExpenditureRealEstateOwned_documentation_en-US" xlink:label="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital Expenditure, Real Estate Owned</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CapitalExpenditureRealEstateOwned" xlink:href="bxmt-20250930.xsd#bxmt_CapitalExpenditureRealEstateOwned"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CapitalExpenditureRealEstateOwned" xlink:to="lab_bxmt_CapitalExpenditureRealEstateOwned" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_cc7b05bb-aedf-4a65-8125-2a3c69a2b0a2_terseLabel_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC</link:label>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_label_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC [Member]</link:label>
    <link:label id="lab_bxmt_BREHotelsResortsLLCMember_documentation_en-US" xlink:label="lab_bxmt_BREHotelsResortsLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BRE Hotels &amp; Resorts, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BREHotelsResortsLLCMember" xlink:href="bxmt-20250930.xsd#bxmt_BREHotelsResortsLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BREHotelsResortsLLCMember" xlink:to="lab_bxmt_BREHotelsResortsLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_aa4acc9a-8e08-4a81-9852-85967df53a2c_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:to="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_e08bc170-771c-4b36-a993-84a7d5a1ae0c_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk</link:label>
    <link:label id="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Interest Rate Derivatives [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestExpenseDebt_00bb78c5-b175-48cc-9ceb-4f54355964dd_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense on debt</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_b51ffe40-6eb3-4c5c-b106-710fd9143fa0_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpenseDebt_label_en-US" xlink:label="lab_us-gaap_InterestExpenseDebt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Debt</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpenseDebt" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestExpenseDebt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseDebt" xlink:to="lab_us-gaap_InterestExpenseDebt" xlink:type="arc" order="1"/>
    <link:label id="lab_currency_AllCurrenciesDomain_34ab91d3-9c34-4d2d-a145-7bce273ec328_terseLabel_en-US" xlink:label="lab_currency_AllCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:label id="lab_currency_AllCurrenciesDomain_label_en-US" xlink:label="lab_currency_AllCurrenciesDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_currency_AllCurrenciesDomain" xlink:href="https://xbrl.sec.gov/currency/2025/currency-2025.xsd#currency_AllCurrenciesDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_currency_AllCurrenciesDomain" xlink:to="lab_currency_AllCurrenciesDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrIndName_terseLabel_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_TrdArrIndName_label_en-US" xlink:label="lab_ecd_TrdArrIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrIndName" xlink:to="lab_ecd_TrdArrIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldAxis_e4e776b5-9936-4bbd-b3fd-9118c0ff0d2e_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Axis]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAxis_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Axis]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAxis_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldAxis" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldAxis" xlink:to="lab_bxmt_LoanParticipationsSoldAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_69301505-9bed-41c2-9f6e-35ad1bb39939_totalLabel_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow And Net Investment Hedge, Gain (Loss), Reclassification, Before Tax</link:label>
    <link:label id="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax_documentation_en-US" xlink:label="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Cash Flow And Net Investment Hedge, Gain (Loss), Reclassification, Before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:href="bxmt-20250930.xsd#bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:to="lab_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_b70b0659-3a8b-4f12-9a50-24d1830abd84_netLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Principal balance</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_a5c7ebab-1be5-41a8-a3c7-d3a0ff863842_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face Value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentFaceAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_ca4f827a-91f7-431b-990f-03767f0dc335_terseLabel_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lexington National Land Services</link:label>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_label_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lexington National Land Services [Member]</link:label>
    <link:label id="lab_bxmt_LexingtonNationalLandServicesMember_documentation_en-US" xlink:label="lab_bxmt_LexingtonNationalLandServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lexington National Land Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LexingtonNationalLandServicesMember" xlink:href="bxmt-20250930.xsd#bxmt_LexingtonNationalLandServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LexingtonNationalLandServicesMember" xlink:to="lab_bxmt_LexingtonNationalLandServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansAxis_62925987-cb3f-4486-b9c6-685ea7be057f_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number Of Loans [Axis]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansAxis_label_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans [Axis]</link:label>
    <link:label id="lab_bxmt_NumberOfLoansAxis_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansAxis" xlink:href="bxmt-20250930.xsd#bxmt_NumberOfLoansAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansAxis" xlink:to="lab_bxmt_NumberOfLoansAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract_label_en-US" xlink:label="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Comprehensive Income [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:to="lab_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_fac4423f-ac86-46d6-a50c-8ea66db4f9b6_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_b8ee16b6-6fdb-456c-827a-f126c3304a25_verboseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_label_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Lenders</link:label>
    <link:label id="lab_bxmt_DebtInstrumentNumberOfLenders_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Number Of Lenders</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentNumberOfLenders" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentNumberOfLenders"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentNumberOfLenders" xlink:to="lab_bxmt_DebtInstrumentNumberOfLenders" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_NumberOfLoansReferred_2c10aba3-50be-42d9-860b-568bca9e40c9_terseLabel_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of loans referred</link:label>
    <link:label id="lab_bxmt_NumberOfLoansReferred_label_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Loans Referred</link:label>
    <link:label id="lab_bxmt_NumberOfLoansReferred_documentation_en-US" xlink:label="lab_bxmt_NumberOfLoansReferred" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Loans Referred</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_NumberOfLoansReferred" xlink:href="bxmt-20250930.xsd#bxmt_NumberOfLoansReferred"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_NumberOfLoansReferred" xlink:to="lab_bxmt_NumberOfLoansReferred" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_terseLabel_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_AwardsCloseToMnpiDiscIndName_label_en-US" xlink:label="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Awards Close in Time to MNPI Disclosures, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AwardsCloseToMnpiDiscIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AwardsCloseToMnpiDiscIndName" xlink:to="lab_ecd_AwardsCloseToMnpiDiscIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_ec775499-67d4-4f1a-97d8-a8aeda9a8814_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_401b50df-e62b-455f-a174-8c1d9148fb80_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue"/>
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    <link:label id="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax_9f7e0d7d-cc2d-4207-a174-ad023bb9a1fd_terseLabel_en-US" xlink:label="lab_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net realized and unrealized gains related to changes in fair value of derivative instruments</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax"/>
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    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_terseLabel_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined</link:label>
    <link:label id="lab_ecd_AggtErrCompNotYetDeterminedTextBlock_label_en-US" xlink:label="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Erroneous Compensation Not Yet Determined [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AggtErrCompNotYetDeterminedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:to="lab_ecd_AggtErrCompNotYetDeterminedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherInternationalMember_7fa351df-09e7-4c93-87ea-46e4297aef4e_terseLabel_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other International</link:label>
    <link:label id="lab_bxmt_OtherInternationalMember_label_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other International [Member]</link:label>
    <link:label id="lab_bxmt_OtherInternationalMember_documentation_en-US" xlink:label="lab_bxmt_OtherInternationalMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other International</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherInternationalMember" xlink:href="bxmt-20250930.xsd#bxmt_OtherInternationalMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherInternationalMember" xlink:to="lab_bxmt_OtherInternationalMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_119248ce-c960-482b-b846-b5009e498296_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementLocationAxis_label_en-US" xlink:label="lab_us-gaap_IncomeStatementLocationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Income Location, Balance [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeStatementLocationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeStatementLocationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementLocationAxis" xlink:to="lab_us-gaap_IncomeStatementLocationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_50677c82-a621-41f1-b226-ff1713155f57_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption of other assets and liabilities related to real estate owned</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assumption Of Other Assets And Liabilities</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Assumption Of Other Assets And Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:to="lab_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_cc3a9b1e-c958-4b86-ad56-ff450bfb36cc_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining borrowing capacity</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Remaining Borrowing Capacity</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:to="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ProceedsOfLoanParticipations_b704d64c-1ba1-4e73-9601-551e67d0e726_terseLabel_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds of loan participations</link:label>
    <link:label id="lab_bxmt_ProceedsOfLoanParticipations_label_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds Of Loan Participations</link:label>
    <link:label id="lab_bxmt_ProceedsOfLoanParticipations_documentation_en-US" xlink:label="lab_bxmt_ProceedsOfLoanParticipations" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds Of Loan Participations</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ProceedsOfLoanParticipations" xlink:href="bxmt-20250930.xsd#bxmt_ProceedsOfLoanParticipations"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ProceedsOfLoanParticipations" xlink:to="lab_bxmt_ProceedsOfLoanParticipations" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_a9cc1f1b-2b2e-473d-8b5f-9a2170c3eb40_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Hierarchy and NAV [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:to="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_260f7b99-9e68-4c6b-8554-a05f4369497b_terseLabel_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt repayments pending servicer remittance</link:label>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_label_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt Repayments Pending Servicer Remittance</link:label>
    <link:label id="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance_documentation_en-US" xlink:label="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Secured debt repayments pending servicer remittance.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:href="bxmt-20250930.xsd#bxmt_SecuredDebtRepaymentsPendingServicerRemittance"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:to="lab_bxmt_SecuredDebtRepaymentsPendingServicerRemittance" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_c42d5250-5498-4080-a2cf-8a303354ac2b_terseLabel_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of Assets</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_label_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Number Of Properties</link:label>
    <link:label id="lab_bxmt_EquityMethodInvestmentsNumberOfProperties_documentation_en-US" xlink:label="lab_bxmt_EquityMethodInvestmentsNumberOfProperties" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Number Of Properties</link:label>
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    <link:label id="lab_bxmt_FinancingReceivablesMember_36f55ca3-1d28-4ffe-a9b5-2b0c5b08f19d_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivables</link:label>
    <link:label id="lab_bxmt_FinancingReceivablesMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivables [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivablesMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivablesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivables</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivablesMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivablesMember"/>
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    <link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_a73ec494-d7f6-4506-a5d9-77dffc4dbe7a_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of deferred financing costs and premiums/discounts on debt obligations</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:to="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_c422c413-deaf-4d08-ba48-c62b2263dc03_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per Share</link:label>
    <link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
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    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_aac79fa5-a507-4d98-8e29-d286b50da453_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Net</link:label>
    <link:label id="lab_us-gaap_RealEstateOwnedTextBlock_label_en-US" xlink:label="lab_us-gaap_RealEstateOwnedTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RealEstateOwnedTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateOwnedTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateOwnedTextBlock" xlink:to="lab_us-gaap_RealEstateOwnedTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_d40365a4-c6b3-4716-b0c4-6f3110767825_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued interest payable</link:label>
    <link:label id="lab_us-gaap_InterestPayableCurrentAndNoncurrent_label_en-US" xlink:label="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestPayableCurrentAndNoncurrent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:to="lab_us-gaap_InterestPayableCurrentAndNoncurrent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_8a5b4a35-36de-4483-ae50-029d80c5933d_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Decrease) increase in net CECL reserve</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_label_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Period Increase (Decrease) And Writeoff, Net</link:label>
    <link:label id="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Period Increase (Decrease) And Writeoff, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:to="lab_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_c2221299-0607-40e4-90dd-2ff38b459f5d_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year two</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear"/>
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    <link:label id="lab_ecd_AllExecutiveCategoriesMember_terseLabel_en-US" xlink:label="lab_ecd_AllExecutiveCategoriesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Executive Categories</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllExecutiveCategoriesMember" xlink:to="lab_ecd_AllExecutiveCategoriesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockValue_c53267e1-8185-4a0c-a334-3f2f87e5bc6a_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class A common stock, $0.01 par value, 400,000,000 shares authorized, 170,720,119 and 172,792,094 shares issued and outstanding as of September&#160;30, 2025 and December&#160;31, 2024, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_label_en-US" xlink:label="lab_us-gaap_CommonStockValue" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockValue"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue" xlink:to="lab_us-gaap_CommonStockValue" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_774ca972-de7a-4fc9-a549-3d7fcb2c153b_terseLabel_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_label_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five [Member]</link:label>
    <link:label id="lab_bxmt_ExtendedMaturityLoanFiveMember_documentation_en-US" xlink:label="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Extended Maturity, Loan Five</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ExtendedMaturityLoanFiveMember" xlink:href="bxmt-20250930.xsd#bxmt_ExtendedMaturityLoanFiveMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ExtendedMaturityLoanFiveMember" xlink:to="lab_bxmt_ExtendedMaturityLoanFiveMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConvertibleDebtTableTextBlock_65368099-8438-4bcb-9987-2e61e22c388e_terseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Convertible Debt</link:label>
    <link:label id="lab_us-gaap_ConvertibleDebtTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ConvertibleDebtTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt [Table Text Block]</link:label>
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    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_dc078030-0487-4814-9968-d25daf41e287_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest and related income</link:label>
    <link:label id="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases_label_en-US" xlink:label="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and Fee Income, Loans and Leases</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestAndFeeIncomeLoansAndLeases"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:to="lab_us-gaap_InterestAndFeeIncomeLoansAndLeases" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_78c7749b-8261-419b-8cdc-4476edf81333_terseLabel_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total gain on derivative instruments</link:label>
    <link:label id="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1_label_en-US" xlink:label="lab_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments</link:label>
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    <link:label id="lab_bxmt_LoanParticipationsSoldMember_16895b25-88e9-405f-aef2-722f347f31b5_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldMember_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Member]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldMember_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldMember" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldMember" xlink:to="lab_bxmt_LoanParticipationsSoldMember" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_TitleOfIndividualAxis_53fae27a-6c42-4495-b797-aee6c811b8e1_terseLabel_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of Individual [Axis]</link:label>
    <link:label id="lab_srt_TitleOfIndividualAxis_label_en-US" xlink:label="lab_srt_TitleOfIndividualAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title and Position [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_TitleOfIndividualAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_TitleOfIndividualAxis"/>
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    <link:label id="lab_us-gaap_CommitmentsAndContingencies_273b176d-0f4a-4db3-bdf9-2c108ad2fe4f_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies (Note 22)</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies" xlink:to="lab_us-gaap_CommitmentsAndContingencies" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff_db5e5d85-640b-4c6f-96f4-6f1b2ec46017_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year one</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_a163f0f1-d437-48b1-aac0-2cb12bfbcbe9_totalLabel_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income (loss)</link:label>
    <link:label id="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_label_en-US" xlink:label="lab_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
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    <link:label id="lab_us-gaap_NoncontrollingInterestMember_bf312ccf-9b6c-48ac-8b49-935df8bc2ee2_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-Controlling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NoncontrollingInterestMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncontrollingInterestMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember" xlink:to="lab_us-gaap_NoncontrollingInterestMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_90611ca2-3893-40e7-8839-6fdd825f2aca_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total debt to total assets ratio</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:to="lab_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_84f320e5-5fb7-41b3-9772-60c3b6aed68b_terseLabel_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revantage Corporate Services, LLC and Revantage Global Services Europe S.&#224; r.l, EQ Management, LLC, BRE Hotels &amp; Resorts, LLC LivCor, LLC, NNN PortCo - Reliant</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_label_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, (UK) &amp; (AUS) Pty Ltd, Revantage Corporate and Global Services Europe S.&#224; r.l., Perform Properties, LLC, LivCor, LLC, BRE Hotels &amp; Resorts, LLC &amp; LendingOne, LLC [Member]</link:label>
    <link:label id="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember_documentation_en-US" xlink:label="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brio Real Estate Services, LLC, (UK) Ltd., and (AUS) Pty Ltd, Revantage Corporate Services, LLC and Revantage Global Services Europe S.&#224; r.l, Perform Properties, LLC, LivCor, LLC, BRE Hotels &amp; Resorts, LLC &amp; LendingOne, LLC</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:href="bxmt-20250930.xsd#bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:to="lab_bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_InterestIncomeMember_c675094b-7bb0-4b83-a7b6-b5735647ae26_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:label id="lab_us-gaap_InterestIncomeMember_label_en-US" xlink:label="lab_us-gaap_InterestIncomeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestIncomeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeMember" xlink:to="lab_us-gaap_InterestIncomeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_8366ef13-d980-432d-b787-15e759f24621_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_4b8a9816-ef15-4f7d-bc14-136cd55aa583_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership Interest</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_VariableRateSpreadAxis_5aa0d5e3-cd85-46c6-83ae-5d71870c28c5_terseLabel_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Axis]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadAxis_label_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate Spread [Axis]</link:label>
    <link:label id="lab_bxmt_VariableRateSpreadAxis_documentation_en-US" xlink:label="lab_bxmt_VariableRateSpreadAxis" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable Rate Spread</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_VariableRateSpreadAxis" xlink:href="bxmt-20250930.xsd#bxmt_VariableRateSpreadAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_VariableRateSpreadAxis" xlink:to="lab_bxmt_VariableRateSpreadAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_b602b1b9-b26c-41d3-892f-d7244cdcc61a_terseLabel_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property Americas IC</link:label>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_label_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property America IC ("Gryphon") [Member]</link:label>
    <link:label id="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember_documentation_en-US" xlink:label="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gryphon Mutual Property America IC ("Gryphon")</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:href="bxmt-20250930.xsd#bxmt_GryphonMutualPropertyAmericaICGryphonMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:to="lab_bxmt_GryphonMutualPropertyAmericaICGryphonMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_37f76783-8b2a-46d9-93f6-b0d58f9199cd_verboseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Hedging adjustments</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_1a314a08-3546-4c15-b993-ccbd12818315_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_terseLabel_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:label id="lab_ecd_PeoActuallyPaidCompAmt_label_en-US" xlink:label="lab_ecd_PeoActuallyPaidCompAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEO Actually Paid Compensation Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PeoActuallyPaidCompAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PeoActuallyPaidCompAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PeoActuallyPaidCompAmt" xlink:to="lab_ecd_PeoActuallyPaidCompAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_2dad9d01-6ef6-40fa-b9df-99e22a4410c3_terseLabel_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying Amount of the Hedged Assets/ Liabilities</link:label>
    <link:label id="lab_us-gaap_HedgedLiabilityFairValueHedge_label_en-US" xlink:label="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged Liability, Fair Value Hedge</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgedLiabilityFairValueHedge"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgedLiabilityFairValueHedge" xlink:to="lab_us-gaap_HedgedLiabilityFairValueHedge" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_6f1e98e0-8436-46a5-ad43-b1ea7b1139a9_terseLabel_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative settlements and accruals</link:label>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_label_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Settlements and Accruals of Fair Value Hedging Instruments</link:label>
    <link:label id="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments_documentation_en-US" xlink:label="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Settlements and Accruals of Fair Value Hedging Instruments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:href="bxmt-20250930.xsd#bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:to="lab_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_49cd50d5-d34d-4b17-a2c1-4c28b671dea7_terseLabel_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buy USD / Sell SEK Forward</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_label_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Contract Buy United States Dollar Sell Swedish Krona [Member]</link:label>
    <link:label id="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember_documentation_en-US" xlink:label="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange contract buy inited states dollar sell swedish krona.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:href="bxmt-20250930.xsd#bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:to="lab_bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_13f2a2b2-5779-437b-88a3-82335dfc743e_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average future funding period (in years)</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Term</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Term</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:href="bxmt-20250930.xsd#bxmt_OffBalanceSheetCreditLossLiabilityTerm"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityTerm" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_89aeb4db-7072-4402-9f75-766972ab69c5_terseLabel_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:label id="lab_us-gaap_HedgingDesignationAxis_label_en-US" xlink:label="lab_us-gaap_HedgingDesignationAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging Designation [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_HedgingDesignationAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_HedgingDesignationAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HedgingDesignationAxis" xlink:to="lab_us-gaap_HedgingDesignationAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_7f573dbf-a956-469e-92f8-e552e671746d_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Derivative Instruments in Statement of Operations</link:label>
    <link:label id="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_ec9eda66-0c78-4cf0-81f1-599efe48cc51_terseLabel_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisition</link:label>
    <link:label id="lab_us-gaap_AssetAcquisitionTableTextBlock_label_en-US" xlink:label="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asset Acquisition [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AssetAcquisitionTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetAcquisitionTableTextBlock" xlink:to="lab_us-gaap_AssetAcquisitionTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsPolicyTextBlock_5b7a70f5-b6fc-4cef-8e7b-04b8ec4c3b3e_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationsPolicyTextBlock_label_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations [Policy Text Block]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsPolicyTextBlock_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan participations.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsPolicyTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsPolicyTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsPolicyTextBlock" xlink:to="lab_bxmt_LoanParticipationsPolicyTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_e358db98-2da9-4a00-81a7-431036ac38e5_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Covenants, minimum cash liquidity amount</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Cash Liquidity, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantCashLiquidityMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantCashLiquidityMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_f3921b97-f45e-4387-bf47-171614733196_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of instruments</link:label>
    <link:label id="lab_us-gaap_DerivativeNumberOfInstrumentsHeld_label_en-US" xlink:label="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative, Number of Instruments Held</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeNumberOfInstrumentsHeld"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:to="lab_us-gaap_DerivativeNumberOfInstrumentsHeld" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetInvestmentHedgingMember_33280adb-e9f0-4a70-83f5-91944df2be01_terseLabel_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Investment Hedges</link:label>
    <link:label id="lab_us-gaap_NetInvestmentHedgingMember_label_en-US" xlink:label="lab_us-gaap_NetInvestmentHedgingMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Investment Hedging [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetInvestmentHedgingMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetInvestmentHedgingMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetInvestmentHedgingMember" xlink:to="lab_us-gaap_NetInvestmentHedgingMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_fca6db4f-4886-4954-a42c-eaeec0265c71_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:label id="lab_us-gaap_DerivativeContractTypeDomain_label_en-US" xlink:label="lab_us-gaap_DerivativeContractTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeContractTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeContractTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeContractTypeDomain" xlink:to="lab_us-gaap_DerivativeContractTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldAbstract_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Abstract]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldAbstract_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldAbstract" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldAbstract" xlink:to="lab_bxmt_LoanParticipationsSoldAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_13cc31ba-642a-4a6e-a730-c187d87d2c14_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:to="lab_us-gaap_ScheduleOfFinancingReceivableAllowanceForCreditLossesTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentsAbstract_289e32f4-87ac-4714-97b0-27ddef1c5b3b_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instruments [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentsAbstract_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentsAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instruments [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentsAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentsAbstract" xlink:to="lab_us-gaap_DebtInstrumentsAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllIndividualsMember_terseLabel_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Individuals</link:label>
    <link:label id="lab_ecd_AllIndividualsMember_label_en-US" xlink:label="lab_ecd_AllIndividualsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Individuals [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllIndividualsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllIndividualsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllIndividualsMember" xlink:to="lab_ecd_AllIndividualsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_d20ba467-388a-4d12-bb42-e271422b3f16_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:label id="lab_us-gaap_LongtermDebtTypeDomain_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-Term Debt, Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongtermDebtTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongtermDebtTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain" xlink:to="lab_us-gaap_LongtermDebtTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_c0d9c44c-7341-4672-ad38-26203e9c692c_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:label id="lab_us-gaap_FairValueDisclosuresAbstract_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Disclosures [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueDisclosuresAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresAbstract" xlink:to="lab_us-gaap_FairValueDisclosuresAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryIndName_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryIndName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery, Individual Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryIndName" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryIndName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryIndName" xlink:to="lab_ecd_ForgoneRecoveryIndName" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_terseLabel_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember_label_en-US" xlink:label="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:to="lab_ecd_ChngInFrValOfOutsdngAndUnvstdEqtyAwrdsGrntdInPrrYrsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RiskRatingThreeMember_b0b717a3-2dff-42ef-b88d-7f6b66d0a954_verboseLabel_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">3</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_e06f4ada-f9ce-4ef5-a0e5-30f038aa9f2c_terseLabel_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_label_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Rating, Three [Member]</link:label>
    <link:label id="lab_bxmt_RiskRatingThreeMember_documentation_en-US" xlink:label="lab_bxmt_RiskRatingThreeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk Rating Three [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RiskRatingThreeMember" xlink:href="bxmt-20250930.xsd#bxmt_RiskRatingThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RiskRatingThreeMember" xlink:to="lab_bxmt_RiskRatingThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_cacc61b0-9af4-4dfa-88b2-3edb5e18805c_terseLabel_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_label_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Four</link:label>
    <link:label id="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Expected Amortization, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:href="bxmt-20250930.xsd#bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:to="lab_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_42c18071-6c89-483e-9af9-f86fb88a79e7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net interest margin (percentage)</link:label>
    <link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Weighted Average Interest Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtWeightedAverageInterestRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_0caafaf6-f2f6-4b32-9400-357380e06b5a_verboseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">U.S. loans</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionDomesticMember_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionDomesticMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution, Domestic [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionDomesticMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionDomesticMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionDomesticMember" xlink:to="lab_us-gaap_GeographicDistributionDomesticMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_46ecd9a4-25d5-48f7-8161-280d9f22fc88_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans Participations Sold, Net</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_label_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participations Sold Disclosure [Text Block]</link:label>
    <link:label id="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participations Sold Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationsSoldDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:to="lab_bxmt_LoanParticipationsSoldDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_2e0ca6a5-59dd-43f8-b07f-627de6f55d55_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year five</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_2dd27b13-ab6a-4bf6-9c30-9809d8e36700_terseLabel_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Building and building improvements</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_label_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:label id="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation_documentation_en-US" xlink:label="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Building And Building Improvements Acquired Through Foreclosure, Purchase Price Allocation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:href="bxmt-20250930.xsd#bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:to="lab_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_terseLabel_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis</link:label>
    <link:label id="lab_ecd_ErrCompAnalysisTextBlock_label_en-US" xlink:label="lab_ecd_ErrCompAnalysisTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Erroneous Compensation Analysis [Text Block]</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ErrCompAnalysisTextBlock" xlink:to="lab_ecd_ErrCompAnalysisTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable_b67ebbfa-97db-4a3e-a514-34ac70ead075_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible Asset, Finite-Lived [Table]</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTable"/>
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    <link:label id="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent_documentation_en-US" xlink:label="lab_bxmt_LineOfCreditFacilityRecourseLimitationPercent" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line Of Credit Facility, Recourse Limitation, Percent</link:label>
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    <link:label id="lab_srt_StatementGeographicalAxis_c4a8f426-c8c8-4ae9-a6bf-f5ff2b7beb47_terseLabel_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
    <link:label id="lab_srt_StatementGeographicalAxis_label_en-US" xlink:label="lab_srt_StatementGeographicalAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical [Axis]</link:label>
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    <link:label id="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock_92a020a5-ac40-4df5-bbf7-196ec6616dcf_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Carrying Amount and Cumulative Basis Adjustments on Hedged Items Designated as Fair Value Hedges</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_5a240195-f272-4494-ac23-06fc46c32efa_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unfunded loan commitments</link:label>
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    <link:label id="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Modified, Off Balance Sheet Liability</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableModifiedOffBalanceSheetLiability"/>
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    <link:label id="lab_ecd_Rule10b51ArrTrmntdFlag_terseLabel_en-US" xlink:label="lab_ecd_Rule10b51ArrTrmntdFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rule 10b5-1 Arrangement Terminated</link:label>
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    <link:label id="lab_bxmt_DebtInstrumentWeightedAverageAllInYield_993b612d-9953-40da-b299-0adf6128b591_totalLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Wtd. avg. all-in yield (percentage)</link:label>
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    <link:label id="lab_bxmt_DebtInstrumentWeightedAverageAllInYield_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentWeightedAverageAllInYield" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt instrument weighted average all in yield.</link:label>
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    <link:label id="lab_ecd_ErrCompRecoveryTable_terseLabel_en-US" xlink:label="lab_ecd_ErrCompRecoveryTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Erroneously Awarded Compensation Recovery</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ecd_ErrCompRecoveryTable" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ErrCompRecoveryTable"/>
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    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_ed4a38c7-7b31-41d9-9c00-b2db15783dd5_terseLabel_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
    <link:label id="lab_us-gaap_ConcentrationRiskBenchmarkDomain_label_en-US" xlink:label="lab_us-gaap_ConcentrationRiskBenchmarkDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentration Risk Benchmark [Domain]</link:label>
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    <link:label id="lab_dei_Security12bTitle_ea6c7950-f14c-49fa-bf49-312dbc88bfb8_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_7122b30a-742d-4c94-a5c5-3e628015fbc3_negatedLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Decrease (increase) in current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_43bc43b4-00bb-4fcb-aa07-b166d48a1509_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Credit Loss Expense (Reversal)</link:label>
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    <link:label id="lab_us-gaap_PaidInKindInterest_fdfd775f-e117-40cb-aaad-9818b6e1fac3_verboseLabel_en-US" xlink:label="lab_us-gaap_PaidInKindInterest" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payment-in-kind interest, net of interest received</link:label>
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    <link:label id="lab_us-gaap_EarningsPerShareAbstract_313ed92d-6ef7-43fa-997b-3d3fe195b2c5_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) per share of common stock</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
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    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_fee24d81-1ce0-4e30-a32b-ef033e7af94f_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff_f4881d8e-bb5c-4073-9ccc-14bc5f5cd0f4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Year three</link:label>
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    <link:label id="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings_d201585d-ee08-4637-9a2e-d0599673f484_totalLabel_en-US" xlink:label="lab_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (Loss) Gain on Fair Value Hedging Relationships</link:label>
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    <link:label id="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember_29fa4eab-01db-478e-bd56-47d4e5f2afc7_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL2SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL2 Senior Collateralized Loan Obligation</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems"/>
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    <link:label id="lab_ecd_AwardTmgDiscLineItems_label_en-US" xlink:label="lab_ecd_AwardTmgDiscLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Timing Disclosures [Line Items]</link:label>
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    <link:label id="lab_us-gaap_FairValueMeasurementFrequencyDomain_label_en-US" xlink:label="lab_us-gaap_FairValueMeasurementFrequencyDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement Frequency [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FairValueMeasurementFrequencyDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FairValueMeasurementFrequencyDomain"/>
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    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [Text Block]</link:label>
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    <link:label id="lab_us-gaap_LoanRestructuringModificationDomain_6af0a932-5ef1-46c4-80e5-6ef18de39c9c_terseLabel_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Restructuring Modification [Domain]</link:label>
    <link:label id="lab_us-gaap_LoanRestructuringModificationDomain_label_en-US" xlink:label="lab_us-gaap_LoanRestructuringModificationDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Restructuring Modification [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LoanRestructuringModificationDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LoanRestructuringModificationDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoanRestructuringModificationDomain" xlink:to="lab_us-gaap_LoanRestructuringModificationDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_73443391-3fd9-4aa5-8854-bac7be523d69_totalLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Loans receivable, net</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_dec4018d-a265-4ac8-b1ba-8e05bdd5ff71_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net book value</link:label>
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    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, after Allowance for Credit Loss</link:label>
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    <link:label id="lab_us-gaap_NetIncomeLoss_86db82c4-c855-43a8-be00-1bd4e14697dd_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLoss" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) attributable to Blackstone Mortgage Trust, Inc.</link:label>
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    <link:label id="lab_bxmt_PerformingLoanMember_7a8f8b9a-065a-4aa3-a6bf-9a43cf1638ba_terseLabel_en-US" xlink:label="lab_bxmt_PerformingLoanMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Performing Loan</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PerformingLoanMember" xlink:href="bxmt-20250930.xsd#bxmt_PerformingLoanMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PerformingLoanMember" xlink:to="lab_bxmt_PerformingLoanMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable_5425fd14-64bc-4abd-87f0-97da210a62e3_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from repayment of loan</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:to="lab_us-gaap_ProceedsFromCollectionOfLoansReceivable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_0ba388a4-010a-4260-abed-8a18deb32635_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted shares, vesting period (in years)</link:label>
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    <link:label id="lab_bxmt_LoanParticipationsSoldTable_6b6dc767-0dc2-45af-88a9-f3e128680574_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationsSoldTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan Participations Sold [Table]</link:label>
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    <link:label id="lab_us-gaap_PreferredStockSharesAuthorized_ef991562-1d12-45ec-8a0f-af6ec8b2c50f_terseLabel_en-US" xlink:label="lab_us-gaap_PreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Preferred stock, shares authorized (in shares)</link:label>
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    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_8b9c795c-2fd4-4a8b-85a4-4aac7e32768c_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Repurchases of class A common stock</link:label>
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    <link:label id="lab_ecd_TrdArrAdoptionDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adoption Date</link:label>
    <link:label id="lab_ecd_TrdArrAdoptionDate_label_en-US" xlink:label="lab_ecd_TrdArrAdoptionDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Adoption Date</link:label>
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    <link:label id="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue_9db09aea-649e-4af9-bc6e-2a499a14a4d3_terseLabel_en-US" xlink:label="lab_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate grant fair value</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue" xlink:href="bxmt-20250930.xsd#bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue"/>
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    <link:label id="lab_us-gaap_ManagementAndServiceFeesIncentiveRate_91eb6cd7-bb66-4a3f-a265-09f2a875f6a2_terseLabel_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management incentive fee percentage</link:label>
    <link:label id="lab_us-gaap_ManagementAndServiceFeesIncentiveRate_label_en-US" xlink:label="lab_us-gaap_ManagementAndServiceFeesIncentiveRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management and Service Fees, Incentive Rate</link:label>
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    <link:label id="lab_us-gaap_LineOfCreditMember_4a1418c1-6bad-46b8-9845-810f3af597c2_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Secured debt, net</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LineOfCreditMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LineOfCreditMember"/>
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    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_05c1d5a4-8ab0-4907-b214-eceb8f1ded7a_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_a1c10484-04b7-4a8c-8ac5-b0b82e1ed82c_terseLabel_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Blackstone internal audit services</link:label>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_label_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Blackstone Internal Audit Services [Member]</link:label>
    <link:label id="lab_bxmt_BlackstoneInternalAuditServicesMember_documentation_en-US" xlink:label="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Blackstone Internal Audit Services</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BlackstoneInternalAuditServicesMember" xlink:href="bxmt-20250930.xsd#bxmt_BlackstoneInternalAuditServicesMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BlackstoneInternalAuditServicesMember" xlink:to="lab_bxmt_BlackstoneInternalAuditServicesMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ConvertibleNotesPayable_e9539d5c-d89a-4301-8e4c-1c23cea1519e_verboseLabel_en-US" xlink:label="lab_us-gaap_ConvertibleNotesPayable" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Convertible notes, net</link:label>
    <link:label id="lab_us-gaap_ConvertibleNotesPayable_label_en-US" xlink:label="lab_us-gaap_ConvertibleNotesPayable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Notes Payable</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ConvertibleNotesPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConvertibleNotesPayable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConvertibleNotesPayable" xlink:to="lab_us-gaap_ConvertibleNotesPayable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax_b0272022-07b4-4ec3-878d-7da3d081035d_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange contracts</link:label>
    <link:label id="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:to="lab_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_terseLabel_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested</link:label>
    <link:label id="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember_label_en-US" xlink:label="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:to="lab_ecd_YrEndFrValOfEqtyAwrdsGrntdInCvrdYrOutsdngAndUnvstdMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_592b6094-8d9d-48bd-87a9-727aa01f9408_terseLabel_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wtd. Avg. Yield/Cost, loan obligation</link:label>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_label_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt, Securitized Obligation, Weighted Average Cost Over Variable Rate</link:label>
    <link:label id="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate_documentation_en-US" xlink:label="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt, Securitized Obligation, Weighted Average Cost Over Variable Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:href="bxmt-20250930.xsd#bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:to="lab_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_69176b88-2ce6-4bae-b265-6ccc890ca325_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementClassOfStockAxis_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementClassOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementClassOfStockAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis" xlink:to="lab_us-gaap_StatementClassOfStockAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_7a3b0367-a27e-41d3-bc9d-3f6ac09a47da_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain" xlink:to="lab_us-gaap_SubsequentEventTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_b797b550-9efd-4e6c-8511-e5d8fe3d4d85_terseLabel_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027</link:label>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_label_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027 [Member]</link:label>
    <link:label id="lab_bxmt_ConvertibleSeniorNotesDue2027Member_documentation_en-US" xlink:label="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Convertible Senior Notes Due 2027</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:href="bxmt-20250930.xsd#bxmt_ConvertibleSeniorNotesDue2027Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:to="lab_bxmt_ConvertibleSeniorNotesDue2027Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_terseLabel_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table</link:label>
    <link:label id="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember_label_en-US" xlink:label="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:to="lab_ecd_EqtyAwrdsInSummryCompstnTblForAplblYrMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_510a7538-05c2-4912-9937-4a02fe1ea911_terseLabel_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares authorized (in shares)</link:label>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_label_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common And Preferred Stock, Shares Authorized</link:label>
    <link:label id="lab_bxmt_CommonAndPreferredStockSharesAuthorized_documentation_en-US" xlink:label="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum number of total shares permitted to be issued by an entity's charter and bylaws.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:href="bxmt-20250930.xsd#bxmt_CommonAndPreferredStockSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:to="lab_bxmt_CommonAndPreferredStockSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StatementTable_10af651a-f895-4d63-8bc7-d1577f0b3d89_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_label_en-US" xlink:label="lab_us-gaap_StatementTable" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StatementTable"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable" xlink:to="lab_us-gaap_StatementTable" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_cd50bcb2-c668-48c8-a2af-f1717e66ff4e_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income (loss) to net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_92b38f9f-6a0c-4adf-b515-c2940e9ca7f7_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember_9ca3ed88-490a-422d-8cbe-343f2967e8e1_terseLabel_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation</link:label>
    <link:label id="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember_label_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation [Member]</link:label>
    <link:label id="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember_documentation_en-US" xlink:label="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2020 FL3 Senior Collateralized Loan Obligation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:href="bxmt-20250930.xsd#bxmt_A2020FL3SeniorCollateralizedLoanObligationMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:to="lab_bxmt_A2020FL3SeniorCollateralizedLoanObligationMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_7733a486-ad76-4712-bc38-e92c41d92be0_terseLabel_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Board of Directors</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_label_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board Of Directors [Member]</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsMember_documentation_en-US" xlink:label="lab_bxmt_BoardOfDirectorsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The board of directors (who collectively have responsibility for determining the overall policy of the entity and appointing officers) generally elected by the shareholders.</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BoardOfDirectorsMember" xlink:href="bxmt-20250930.xsd#bxmt_BoardOfDirectorsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BoardOfDirectorsMember" xlink:to="lab_bxmt_BoardOfDirectorsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateDomain_e6e41c64-110e-4ac5-9aa0-a8fece97b916_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableRateDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain" xlink:to="lab_us-gaap_VariableRateDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_abb9e238-fa52-407a-a033-6c6b1f4a3abe_totalLabel_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Intangible real estate liabilities</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_label_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross</link:label>
    <link:label id="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross_documentation_en-US" xlink:label="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:href="bxmt-20250930.xsd#bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:to="lab_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_954a7c51-3ee9-4225-9f6f-a00b0debbe66_terseLabel_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization</link:label>
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract_label_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure [Abstract]</link:label>
    <link:label id="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract_documentation_en-US" xlink:label="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Assets And Liabilities Disclosure</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:href="bxmt-20250930.xsd#bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:to="lab_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_AllAdjToCompMember_terseLabel_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation</link:label>
    <link:label id="lab_ecd_AllAdjToCompMember_label_en-US" xlink:label="lab_ecd_AllAdjToCompMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Adjustments to Compensation [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_AllAdjToCompMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_AllAdjToCompMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_AllAdjToCompMember" xlink:to="lab_ecd_AllAdjToCompMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_1cc7f1e6-6789-4576-9a3f-1abdd7eb52bf_terseLabel_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate sales price remaining available</link:label>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_label_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Remaining Authorized Amount</link:label>
    <link:label id="lab_bxmt_SaleOfStockRemainingAuthorizedAmount_documentation_en-US" xlink:label="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale Of Stock, Remaining Authorized Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:href="bxmt-20250930.xsd#bxmt_SaleOfStockRemainingAuthorizedAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:to="lab_bxmt_SaleOfStockRemainingAuthorizedAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_AmendmentFlag_e64d8240-32ef-459c-ad77-ff66f7c07e55_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_label_en-US" xlink:label="lab_dei_AmendmentFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_AmendmentFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag" xlink:to="lab_dei_AmendmentFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_e38050e7-a1a0-409a-baa9-ddf1fddc737b_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum number of shares available under plan (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_b2ccc78d-9e24-4403-8c21-001d04639b02_terseLabel_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture</link:label>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_label_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture [Member]</link:label>
    <link:label id="lab_bxmt_MultifamilyJointVentureMember_documentation_en-US" xlink:label="lab_bxmt_MultifamilyJointVentureMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Multifamily Joint Venture</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_MultifamilyJointVentureMember" xlink:href="bxmt-20250930.xsd#bxmt_MultifamilyJointVentureMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_MultifamilyJointVentureMember" xlink:to="lab_bxmt_MultifamilyJointVentureMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_fb446f60-9305-4949-80dd-82d11488f519_terseLabel_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total unencumbered assets to total unsecured debt ratio</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_label_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Unencumbered Assets To Total Unsecured Debt Ratio, Minimum</link:label>
    <link:label id="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum_documentation_en-US" xlink:label="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt Instrument, Covenant, Total Unencumbered Assets To Total Unsecured Debt Ratio, Minimum</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:href="bxmt-20250930.xsd#bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:to="lab_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_TrdArrTerminationDate_terseLabel_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination Date</link:label>
    <link:label id="lab_ecd_TrdArrTerminationDate_label_en-US" xlink:label="lab_ecd_TrdArrTerminationDate" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Arrangement Termination Date</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_TrdArrTerminationDate" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_TrdArrTerminationDate"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_TrdArrTerminationDate" xlink:to="lab_ecd_TrdArrTerminationDate" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A7RealEstateOwnedAssetsMember_9d33d7ad-b78b-4733-9fd5-cee7f2c11a73_terseLabel_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets</link:label>
    <link:label id="lab_bxmt_A7RealEstateOwnedAssetsMember_label_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets [Member]</link:label>
    <link:label id="lab_bxmt_A7RealEstateOwnedAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">7 Real Estate Owned Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A7RealEstateOwnedAssetsMember" xlink:href="bxmt-20250930.xsd#bxmt_A7RealEstateOwnedAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A7RealEstateOwnedAssetsMember" xlink:to="lab_bxmt_A7RealEstateOwnedAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_terseLabel_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted</link:label>
    <link:label id="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag_label_en-US" xlink:label="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Policies and Procedures Adopted [Flag]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTrdPoliciesProcAdoptedFlag"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:to="lab_ecd_InsiderTrdPoliciesProcAdoptedFlag" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_65dee123-9791-4b28-bf36-0fb277468d96_terseLabel_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance costs inclusive of premiums, capital surplus contributions, taxes and pro rata share of expenses</link:label>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_label_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount Contributed To Captive Towards Insurance Premium</link:label>
    <link:label id="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium_documentation_en-US" xlink:label="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount Contributed To Captive Towards Insurance Premium</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:href="bxmt-20250930.xsd#bxmt_AmountContributedToCaptiveTowardsInsurancePremium"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:to="lab_bxmt_AmountContributedToCaptiveTowardsInsurancePremium" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_23f779e9-f5c1-43c4-99f5-5ebf7cb0aaf6_terseLabel_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Details Of Loan Receivable Portfolio Based On Index Floor Rates</link:label>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_label_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Details Of Loan Receivable Portfolio Based On Floor Rate [Table Text Block]</link:label>
    <link:label id="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock_documentation_en-US" xlink:label="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Details Of Loan Receivable Portfolio Based On Floor Rate</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:href="bxmt-20250930.xsd#bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:to="lab_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_678e6c59-feb0-480d-952a-d7dad8a58150_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt instrument, variable interest rate, type [Extensible Enumeration]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:to="lab_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_277e6e78-41ed-43a1-9731-8ef853fe6d6e_negatedLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Current expected credit loss reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_5260f93e-b740-4a5b-91b4-6465b116a029_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CECL reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_e6424d21-04e8-4a13-a797-6fb69209d4cc_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">CECL reserve</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_ca8b0b9e-78f7-42fd-82aa-7257952bfac4_periodStartLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_3352c194-60a9-4d17-906c-8d86fed80dd8_periodEndLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Allowance for Credit Loss, Excluding Accrued Interest</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:to="lab_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_d8c8134b-1fcd-4957-a61a-acf033a325e2_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ReceivableTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ReceivableTypeDomain"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain" xlink:to="lab_us-gaap_ReceivableTypeDomain" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_75fb8b6c-511f-4cf9-95aa-32a74913a8b6_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vest in 2027</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Payment Arrangement, Tranche Three [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_bade3972-921e-495a-b848-d7ff09a6eb19_netLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_6205bf9e-5c7a-4eff-9c24-b8f18b718b91_verboseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Principal Balance, loan participation</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_ba7ce2fc-dea2-4987-9f58-a038793736d0_terseLabel_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loan participations sold, net, face amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_label_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loan Participation Liabilities, Principal Amount</link:label>
    <link:label id="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount_documentation_en-US" xlink:label="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loan Participation Liabilities, Principal Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:href="bxmt-20250930.xsd#bxmt_LoanParticipationLiabilitiesPrincipalAmount"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:to="lab_bxmt_LoanParticipationLiabilitiesPrincipalAmount" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_daa702d9-d59b-4621-8dea-97ba38e66392_terseLabel_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_label_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle [Member]</link:label>
    <link:label id="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember_documentation_en-US" xlink:label="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Senior Loans, Blackstone-Advised Investment Vehicle</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:href="bxmt-20250930.xsd#bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:to="lab_bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_603d196a-c746-4575-b63a-ce07ad1cffd9_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_0d1bbd75-b5b6-4c1b-8404-d49f2c37a810_netLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Weighted-average shares outstanding, basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_02bec922-9d24-4895-9db2-b0b7cb5788e0_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Basic and Diluted Earnings Per Share, or EPS, Based on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_DirectorMember_82c6f39c-16bc-4f66-8101-da5ef88fa13a_terseLabel_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Director</link:label>
    <link:label id="lab_srt_DirectorMember_label_en-US" xlink:label="lab_srt_DirectorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Director [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_DirectorMember" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_DirectorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_DirectorMember" xlink:to="lab_srt_DirectorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_SegmentReportingAbstract_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment Reporting [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_SegmentReportingAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SegmentReportingAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract" xlink:to="lab_us-gaap_SegmentReportingAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_e7a6c56b-b329-4807-940d-9877edbbf3fc_terseLabel_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Director stock-based compensation</link:label>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_label_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Director Share-Based Payment Arrangement, Expense</link:label>
    <link:label id="lab_bxmt_DirectorShareBasedPaymentArrangementExpense_documentation_en-US" xlink:label="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Director Share-Based Payment Arrangement, Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:href="bxmt-20250930.xsd#bxmt_DirectorShareBasedPaymentArrangementExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:to="lab_bxmt_DirectorShareBasedPaymentArrangementExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_a9e09a34-e30c-409d-bc88-285ab312196d_verboseLabel_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Payments under derivative financial instruments, net of adjustments</link:label>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_label_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities, Net Of Adjustments</link:label>
    <link:label id="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments_documentation_en-US" xlink:label="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payments for Derivative Instrument, Investing Activities, Net Of Adjustments</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:href="bxmt-20250930.xsd#bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:to="lab_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_30766e3f-3b45-4939-ae95-4d47e9798285_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DebtDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtDisclosureAbstract"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract" xlink:to="lab_us-gaap_DebtDisclosureAbstract" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_terseLabel_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:label id="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt_label_en-US" xlink:label="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forgone Recovery due to Expense of Enforcement, Amount</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:to="lab_ecd_ForgoneRecoveryDueToExpenseOfEnforcementAmt" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_d1af56f1-52f4-4296-8da3-fdf3dae82635_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_4ae6361a-5f0f-4ca5-80e9-a02f2adcfae2_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_5169ff21-bcc7-4ff9-ad2b-baecbfe6091a_terseLabel_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:label id="lab_srt_ConsolidatedEntitiesAxis_label_en-US" xlink:label="lab_srt_ConsolidatedEntitiesAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated Entities [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_ConsolidatedEntitiesAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_ConsolidatedEntitiesAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_ConsolidatedEntitiesAxis" xlink:to="lab_srt_ConsolidatedEntitiesAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_25e5c5cf-e368-454f-b4ce-7ca72b1bb849_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Instruments and Hedging Activities Disclosures [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_f56e5b20-2f71-4706-b16a-9eda088ca4b0_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1.01% to 2.00% floor</link:label>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_label_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, 1.01% To 2.00% Floor [Member]</link:label>
    <link:label id="lab_bxmt_FinancingReceivable1.01To2.00FloorMember_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, 1.01% To 2.00% Floor</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivable1.01To2.00FloorMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:to="lab_bxmt_FinancingReceivable1.01To2.00FloorMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_GeographicDistributionAxis_ddbb2e05-9cb8-48ca-933e-39bbd1108c83_terseLabel_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Axis]</link:label>
    <link:label id="lab_us-gaap_GeographicDistributionAxis_label_en-US" xlink:label="lab_us-gaap_GeographicDistributionAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographic Distribution [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeographicDistributionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeographicDistributionAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeographicDistributionAxis" xlink:to="lab_us-gaap_GeographicDistributionAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_HospitalityMember_264647ea-3ab2-48fd-b77f-9759273277ba_terseLabel_en-US" xlink:label="lab_bxmt_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hospitality</link:label>
    <link:label id="lab_bxmt_HospitalityMember_label_en-US" xlink:label="lab_bxmt_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hospitality [Member]</link:label>
    <link:label id="lab_bxmt_HospitalityMember_documentation_en-US" xlink:label="lab_bxmt_HospitalityMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hospitality [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_HospitalityMember" xlink:href="bxmt-20250930.xsd#bxmt_HospitalityMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_HospitalityMember" xlink:to="lab_bxmt_HospitalityMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_UseOfEstimates_d698885e-39c7-4b9b-98e3-32496b92af94_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Use of Estimates</link:label>
    <link:label id="lab_us-gaap_UseOfEstimates_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_UseOfEstimates" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_UseOfEstimates"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates" xlink:to="lab_us-gaap_UseOfEstimates" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_c2d7d2ff-186f-40ad-92b6-e6b722ac7841_terseLabel_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net unfunded commitments</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_label_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Net</link:label>
    <link:label id="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet_documentation_en-US" xlink:label="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Off-Balance-Sheet, Credit Loss, Liability, Net</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:href="bxmt-20250930.xsd#bxmt_OffBalanceSheetCreditLossLiabilityNet"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:to="lab_bxmt_OffBalanceSheetCreditLossLiabilityNet" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A3RealEstateOwnedAssetMember_d23fc00c-d165-4a69-8d67-3b8258ffd99b_terseLabel_en-US" xlink:label="lab_bxmt_A3RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3 Real Estate Owned Assets</link:label>
    <link:label id="lab_bxmt_A3RealEstateOwnedAssetMember_label_en-US" xlink:label="lab_bxmt_A3RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">3 Real Estate Owned Asset [Member]</link:label>
    <link:label id="lab_bxmt_A3RealEstateOwnedAssetMember_documentation_en-US" xlink:label="lab_bxmt_A3RealEstateOwnedAssetMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">3 Real Estate Owned Asset</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A3RealEstateOwnedAssetMember" xlink:href="bxmt-20250930.xsd#bxmt_A3RealEstateOwnedAssetMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A3RealEstateOwnedAssetMember" xlink:to="lab_bxmt_A3RealEstateOwnedAssetMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_InsiderTradingArrLineItems_label_en-US" xlink:label="lab_ecd_InsiderTradingArrLineItems" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insider Trading Arrangements [Line Items]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_InsiderTradingArrLineItems" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_InsiderTradingArrLineItems"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_InsiderTradingArrLineItems" xlink:to="lab_ecd_InsiderTradingArrLineItems" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_dde00db8-8c51-49b1-ba79-f8bc70dd0f23_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prior</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:to="lab_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_90436f2f-cb56-4cc6-b442-427b539ce668_negatedTerseLabel_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Thereafter</link:label>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_label_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Four</link:label>
    <link:label id="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour_documentation_en-US" xlink:label="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Below Market Lease, Amortization Income, after Year Four</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:href="bxmt-20250930.xsd#bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:to="lab_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_85598126-c6f4-44e1-8e8c-52b376db9a9b_terseLabel_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted-average risk rating</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_label_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Risk Rating</link:label>
    <link:label id="lab_bxmt_FinancingReceivableWeightedAverageRiskRating_documentation_en-US" xlink:label="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing Receivable, Weighted Average Risk Rating</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:href="bxmt-20250930.xsd#bxmt_FinancingReceivableWeightedAverageRiskRating"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:to="lab_bxmt_FinancingReceivableWeightedAverageRiskRating" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_Liabilities_8850d9b8-6d26-4d04-b507-d5513b013768_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_da9dd5e1-9a8e-46f0-af56-262aaef52ce4_terseLabel_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_label_en-US" xlink:label="lab_us-gaap_Liabilities" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Liabilities"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities" xlink:to="lab_us-gaap_Liabilities" xlink:type="arc" order="1"/>
    <link:label id="lab_srt_CurrencyAxis_002df05a-5140-45f0-92d5-951ae01fb7a6_terseLabel_en-US" xlink:label="lab_srt_CurrencyAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:label id="lab_srt_CurrencyAxis_label_en-US" xlink:label="lab_srt_CurrencyAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_srt_CurrencyAxis" xlink:href="https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd#srt_CurrencyAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_srt_CurrencyAxis" xlink:to="lab_srt_CurrencyAxis" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_ed426cd5-5525-45a8-a48f-70b17c450730_terseLabel_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage to aggregate loans receivable portfolio</link:label>
    <link:label id="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent_label_en-US" xlink:label="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Excluding Accrued Interest, Modified in Period, to Total Financing Receivables, Percentage</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:to="lab_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_84711d97-33ee-4aed-8220-cd9362d7236c_terseLabel_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of non-employee directors eligible for annual compensation</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_label_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Directors Eligible For Compensation</link:label>
    <link:label id="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation_documentation_en-US" xlink:label="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Board Of Directors, Number Of Directors Eligible For Compensation</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:href="bxmt-20250930.xsd#bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:to="lab_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_terseLabel_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost</link:label>
    <link:label id="lab_ecd_PnsnAdjsPrrSvcCstMember_label_en-US" xlink:label="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension Adjustments Prior Service Cost [Member]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_PnsnAdjsPrrSvcCstMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_PnsnAdjsPrrSvcCstMember" xlink:to="lab_ecd_PnsnAdjsPrrSvcCstMember" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_e286502e-1d1d-4e0c-b41c-1b2b20807635_terseLabel_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_label_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Depreciation And Amortization Expense</link:label>
    <link:label id="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense_documentation_en-US" xlink:label="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Owned, Depreciation And Amortization Expense</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:href="bxmt-20250930.xsd#bxmt_RealEstateOwnedDepreciationAndAmortizationExpense"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:to="lab_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense" xlink:type="arc" order="1"/>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_terseLabel_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement</link:label>
    <link:label id="lab_ecd_MtrlTermsOfTrdArrTextBlock_label_en-US" xlink:label="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material Terms of Trading Arrangement [Text Block]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:href="https://xbrl.sec.gov/ecd/2025/ecd-2025.xsd#ecd_MtrlTermsOfTrdArrTextBlock"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ecd_MtrlTermsOfTrdArrTextBlock" xlink:to="lab_ecd_MtrlTermsOfTrdArrTextBlock" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_dde85e7d-b9d7-4d4b-886d-ba214e137991_terseLabel_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets</link:label>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_label_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets [Member]</link:label>
    <link:label id="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember_documentation_en-US" xlink:label="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2025 FL5 Underlying Collateral Assets</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:href="bxmt-20250930.xsd#bxmt_A2025FL5UnderlyingCollateralAssetsMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:to="lab_bxmt_A2025FL5UnderlyingCollateralAssetsMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_659e7fbb-9404-4476-b264-4a1cb2f32ca9_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares of class A common stock issued, net</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, New Issues</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:type="arc" order="1"/>
    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_09fdede6-030a-4282-9424-dc524a66fe26_terseLabel_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment risk management committee</link:label>
    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_label_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Risk Management Committee [Member]</link:label>
    <link:label id="lab_bxmt_InvestmentRiskManagementCommitteeMember_documentation_en-US" xlink:label="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investment Risk Management Committee</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_bxmt_InvestmentRiskManagementCommitteeMember" xlink:href="bxmt-20250930.xsd#bxmt_InvestmentRiskManagementCommitteeMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_bxmt_InvestmentRiskManagementCommitteeMember" xlink:to="lab_bxmt_InvestmentRiskManagementCommitteeMember" xlink:type="arc" order="1"/>
    <link:label id="lab_us-gaap_VariableRateAxis_337173ac-0888-4cab-a351-91d0cff8aa06_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_VariableRateAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_VariableRateAxis"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis" xlink:to="lab_us-gaap_VariableRateAxis" xlink:type="arc" order="1"/>
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<FILENAME>bxmt-20250930_pre.xml
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Cover Page - shares<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Oct. 22, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentQuarterlyReport', window );">Document Quarterly Report</a></td>
<td class="text">true<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Sep. 30,  2025<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentTransitionReport', window );">Document Transition Report</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-14788<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">Blackstone Mortgage Trust, Inc.<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">94-6181186<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">345 Park Avenue<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">24th Floor<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">New York<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">NY<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">10154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">655-0220<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Class A common stock, par value $0.01 per share<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">BXMT<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityInteractiveDataCurrent', window );">Entity Interactive Data Current</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntitySmallBusiness', window );">Entity Small Business</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityShellCompany', window );">Entity Shell Company</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">167,723,732<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001061630<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2025<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentQuarterlyReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as an quarterly report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Form 10-Q<br> -Number 240<br> -Section 308<br> -Subsection a<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentQuarterlyReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentTransitionReport">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true only for a form used as a transition report.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Forms 10-K, 10-Q, 20-F<br> -Number 240<br> -Section 13<br> -Subsection a-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentTransitionReport</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityInteractiveDataCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-T<br> -Number 232<br> -Section 405<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityInteractiveDataCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityShellCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityShellCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntitySmallBusiness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates that the company is a Smaller Reporting Company (SRC).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntitySmallBusiness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Unaudited) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 377,921<span></span>
</td>
<td class="nump">$ 323,483<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">18,066,919<span></span>
</td>
<td class="nump">19,047,518<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Current expected credit loss reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Investments in unconsolidated entities (includes $104,867 and $0 at fair value as of September&#160;30, 2025 and December&#160;31, 2024, respectively)</a></td>
<td class="nump">182,598<span></span>
</td>
<td class="nump">4,452<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">834,219<span></span>
</td>
<td class="nump">572,253<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">19,699,573<span></span>
</td>
<td class="nump">19,801,955<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLiabilityAmount', window );">Loan participations sold, net</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SeniorNotes', window );">Senior secured notes, net</a></td>
<td class="nump">785,215<span></span>
</td>
<td class="nump">771,035<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConvertibleNotesPayable', window );">Convertible notes, net</a></td>
<td class="nump">264,463<span></span>
</td>
<td class="nump">263,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="nump">639,372<span></span>
</td>
<td class="nump">282,847<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
<td class="nump">16,102,170<span></span>
</td>
<td class="nump">16,007,766<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies (Note 22)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract', window );"><strong>Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Class A common stock, $0.01 par value, 400,000,000 shares authorized, 170,720,119 and 172,792,094 shares issued and outstanding as of September&#160;30, 2025 and December&#160;31, 2024, respectively</a></td>
<td class="nump">1,707<span></span>
</td>
<td class="nump">1,728<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">5,485,421<span></span>
</td>
<td class="nump">5,511,053<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="nump">9,320<span></span>
</td>
<td class="nump">8,268<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(1,905,746)<span></span>
</td>
<td class="num">(1,733,741)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Blackstone Mortgage Trust, Inc. stockholders&#8217; equity</a></td>
<td class="nump">3,590,702<span></span>
</td>
<td class="nump">3,787,308<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Non-controlling interests</a></td>
<td class="nump">6,701<span></span>
</td>
<td class="nump">6,881<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total Equity</a></td>
<td class="nump">3,597,403<span></span>
</td>
<td class="nump">3,794,189<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total Liabilities and Equity</a></td>
<td class="nump">19,699,573<span></span>
</td>
<td class="nump">19,801,955<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">9,540,224<span></span>
</td>
<td class="nump">9,696,334<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">2,470,067<span></span>
</td>
<td class="nump">1,936,956<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">627,916<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">$ 1,774,913<span></span>
</td>
<td class="nump">$ 1,732,073<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldLiabilityAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Liability, Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldLiabilityAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480870/815-30-50-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalent. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(25))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479887/480-10-S45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (01)(iii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of a written promise to pay a note, initially due after one year or beyond the operating cycle if longer, which can be exchanged for a specified amount of one or more securities (typically common stock), at the option of the issuer or the holder.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConvertibleNotesPayable</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
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<tr>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquityAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 15: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 64<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481620/480-10-55-64<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated undistributed earnings (deficit).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-11<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SeniorNotes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SeniorNotes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 16: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsFairValueDisclosure', window );">Investments in unconsolidated entities</a></td>
<td class="nump">$ 104,867,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">400,000,000<span></span>
</td>
<td class="nump">400,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued (in shares)</a></td>
<td class="nump">170,720,119<span></span>
</td>
<td class="nump">172,792,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">170,720,119<span></span>
</td>
<td class="nump">172,792,094<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">$ 19,699,573,000<span></span>
</td>
<td class="nump">$ 19,801,955,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">16,102,170,000<span></span>
</td>
<td class="nump">16,007,766,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember', window );">VIE</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">3,612,866,000<span></span>
</td>
<td class="nump">2,448,786,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 2,511,244,000<span></span>
</td>
<td class="nump">$ 1,950,233,000<span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of investments accounted under the equity method.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Operations (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestIncomeExpenseNetAbstract', window );"><strong>Income from loans and other investments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestAndFeeIncomeLoansAndLeases', window );">Interest and related income</a></td>
<td class="nump">$ 345,959,000<span></span>
</td>
<td class="nump">$ 430,092,000<span></span>
</td>
<td class="nump">$ 1,037,553,000<span></span>
</td>
<td class="nump">$ 1,382,367,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseOperating', window );">Less: Interest and related expenses</a></td>
<td class="nump">247,055,000<span></span>
</td>
<td class="nump">321,744,000<span></span>
</td>
<td class="nump">754,015,000<span></span>
</td>
<td class="nump">1,004,854,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating', window );">Income from loans and other investments, net</a></td>
<td class="nump">98,904,000<span></span>
</td>
<td class="nump">108,348,000<span></span>
</td>
<td class="nump">283,538,000<span></span>
</td>
<td class="nump">377,513,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedIncome', window );">Revenue from real estate owned</a></td>
<td class="nump">33,733,000<span></span>
</td>
<td class="nump">1,214,000<span></span>
</td>
<td class="nump">109,578,000<span></span>
</td>
<td class="nump">1,214,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,389,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">5,352,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoninterestIncomeOther', window );">Other income</a></td>
<td class="nump">74,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">395,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoninterestIncome', window );">Total net revenues</a></td>
<td class="nump">132,711,000<span></span>
</td>
<td class="nump">111,951,000<span></span>
</td>
<td class="nump">393,511,000<span></span>
</td>
<td class="nump">384,079,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoninterestExpenseAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementFeeExpense', window );">Management and incentive fees</a></td>
<td class="nump">16,849,000<span></span>
</td>
<td class="nump">18,605,000<span></span>
</td>
<td class="nump">51,120,000<span></span>
</td>
<td class="nump">56,258,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">12,747,000<span></span>
</td>
<td class="nump">13,423,000<span></span>
</td>
<td class="nump">38,937,000<span></span>
</td>
<td class="nump">40,811,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedExpenses', window );">Expenses from real estate owned</a></td>
<td class="nump">43,100,000<span></span>
</td>
<td class="nump">2,684,000<span></span>
</td>
<td class="nump">137,198,000<span></span>
</td>
<td class="nump">3,647,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherNoninterestExpense', window );">Other expenses</a></td>
<td class="nump">6,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">6,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoninterestExpense', window );">Total expenses</a></td>
<td class="nump">72,702,000<span></span>
</td>
<td class="nump">34,712,000<span></span>
</td>
<td class="nump">227,261,000<span></span>
</td>
<td class="nump">100,716,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal', window );">Decrease (increase) in current expected credit loss reserve</a></td>
<td class="nump">987,000<span></span>
</td>
<td class="num">(132,470,000)<span></span>
</td>
<td class="num">(94,111,000)<span></span>
</td>
<td class="num">(519,747,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Income from unconsolidated entities</a></td>
<td class="nump">3,924,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,035,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">Income (loss) before income taxes</a></td>
<td class="nump">64,920,000<span></span>
</td>
<td class="num">(55,231,000)<span></span>
</td>
<td class="nump">73,174,000<span></span>
</td>
<td class="num">(236,384,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax provision</a></td>
<td class="nump">1,512,000<span></span>
</td>
<td class="nump">613,000<span></span>
</td>
<td class="nump">3,133,000<span></span>
</td>
<td class="nump">2,832,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="nump">63,408,000<span></span>
</td>
<td class="num">(55,844,000)<span></span>
</td>
<td class="nump">70,041,000<span></span>
</td>
<td class="num">(239,216,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income attributable to non-controlling interests</a></td>
<td class="num">(11,000)<span></span>
</td>
<td class="num">(540,000)<span></span>
</td>
<td class="num">(32,000)<span></span>
</td>
<td class="num">(2,063,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income (loss) attributable to Blackstone Mortgage Trust, Inc.</a></td>
<td class="nump">$ 63,397,000<span></span>
</td>
<td class="num">$ (56,384,000)<span></span>
</td>
<td class="nump">$ 70,009,000<span></span>
</td>
<td class="num">$ (241,279,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net income (loss) per share of common stock</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in dollars per share)</a></td>
<td class="nump">$ 0.37<span></span>
</td>
<td class="num">$ (0.32)<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="num">$ (1.39)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in dollars per share)</a></td>
<td class="nump">$ 0.37<span></span>
</td>
<td class="num">$ (0.32)<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="num">$ (1.39)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted Average Number of Shares Outstanding</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in shares)</a></td>
<td class="nump">171,812,685<span></span>
</td>
<td class="nump">173,637,101<span></span>
</td>
<td class="nump">171,903,127<span></span>
</td>
<td class="nump">173,881,116<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in shares)</a></td>
<td class="nump">171,812,685<span></span>
</td>
<td class="nump">173,637,101<span></span>
</td>
<td class="nump">171,903,127<span></span>
</td>
<td class="nump">173,881,116<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest And Fee Income, Loans And Leases, Net Of Interest Expense, Operating</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_InterestAndFeeIncomeLoansAndLeasesNetOfInterestExpenseOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Expenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 4: 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https://asc.fasb.org/1943274/2147481538/470-20-65-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of credit loss expense (reversal of expense) on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476148/220-40-50-22<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndFeeIncomeLoansAndLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate interest and fee income generated by: (1) loans the Entity has positive intent and ability to hold for the foreseeable future, or until maturity or payoff, including commercial and consumer loans, whether domestic or foreign, which may consist of: (a) industrial and agricultural; (b) real estate; and (c) real estate construction loans; (d) trade financing; (e) lease financing; (f) home equity lines-of-credit; (g) automobile and other vehicle loans; and (h) credit card and other revolving-type loans and (2) loans and leases held-for-sale which may include mortgage loans, direct financing, and sales-type leases.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndFeeIncomeLoansAndLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense classified as operating.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(9))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeExpenseNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeExpenseNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 850<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total aggregate amount of all noninterest expense.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoninterestIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoninterestIncomeOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the total of noninterest income derived from certain activities and assets including (for example): (1) venture capital investments; (2) bank owned life insurance; (3) foreign currency transactions; and (4) mortgage servicing rights.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoninterestIncomeOther</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoninterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noninterest expense classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(14))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNoninterestExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 16<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-16<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-10<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementOfIncomeAndComprehensiveIncomeAbstract', window );"><strong>Statement of Comprehensive Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income (loss)</a></td>
<td class="nump">$ 63,408<span></span>
</td>
<td class="num">$ (55,844)<span></span>
</td>
<td class="nump">$ 70,041<span></span>
</td>
<td class="num">$ (239,216)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive (loss) income</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax', window );">Unrealized (loss) gain on foreign currency translation</a></td>
<td class="num">(25,288)<span></span>
</td>
<td class="nump">91,072<span></span>
</td>
<td class="nump">181,093<span></span>
</td>
<td class="nump">49,009<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax', window );">Realized and unrealized gain (loss) on derivative financial instruments</a></td>
<td class="nump">25,174<span></span>
</td>
<td class="num">(90,309)<span></span>
</td>
<td class="num">(178,488)<span></span>
</td>
<td class="num">(47,372)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OciEquityMethodInvestmentAfterTax', window );">Unrealized loss on derivative financial instruments from unconsolidated entities</a></td>
<td class="num">(364)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(1,553)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive (loss) income</a></td>
<td class="num">(478)<span></span>
</td>
<td class="nump">763<span></span>
</td>
<td class="nump">1,052<span></span>
</td>
<td class="nump">1,637<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest', window );">Comprehensive income (loss)</a></td>
<td class="nump">62,930<span></span>
</td>
<td class="num">(55,081)<span></span>
</td>
<td class="nump">71,093<span></span>
</td>
<td class="num">(237,579)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest', window );">Comprehensive income attributable to non-controlling interests</a></td>
<td class="num">(11)<span></span>
</td>
<td class="num">(540)<span></span>
</td>
<td class="num">(32)<span></span>
</td>
<td class="num">(2,063)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income (loss) attributable to Blackstone Mortgage Trust, Inc.</a></td>
<td class="nump">$ 62,919<span></span>
</td>
<td class="num">$ (55,621)<span></span>
</td>
<td class="nump">$ 71,061<span></span>
</td>
<td class="num">$ (239,642)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(26))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 20<br> -SubTopic 10<br> -Topic 810<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-20<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(23))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(25))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(21))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-21<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 19<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-19<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481175/810-10-55-4K<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OciEquityMethodInvestmentAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of other comprehensive income (loss) (OCI) for proportionate share of equity method investee's OCI.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481725/323-10-35-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OciEquityMethodInvestmentAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 220<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481839/830-10-45-9<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482014/830-20-35-3<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481694/830-30-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossBeforeTaxPeriodIncreaseDecreaseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax and before reclassification, of gain (loss) from derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> 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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity (Unaudited) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Stockholders' Equity</div></th>
<th class="th"><div>Class A Common Stock</div></th>
<th class="th"><div>Additional Paid-In Capital</div></th>
<th class="th"><div>Accumulated Other Comprehensive Income (Loss)</div></th>
<th class="th"><div>Accumulated Deficit</div></th>
<th class="th"><div>Non-Controlling Interests</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Dec. 31, 2023</a></td>
<td class="nump">$ 4,387,504<span></span>
</td>
<td class="nump">$ 4,367,711<span></span>
</td>
<td class="nump">$ 1,732<span></span>
</td>
<td class="nump">$ 5,507,459<span></span>
</td>
<td class="nump">$ 9,454<span></span>
</td>
<td class="num">$ (1,150,934)<span></span>
</td>
<td class="nump">$ 19,793<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,911<span></span>
</td>
<td class="nump">7,911<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">7,907<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">253<span></span>
</td>
<td class="nump">253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">201<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(123,170)<span></span>
</td>
<td class="num">(123,838)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(123,838)<span></span>
</td>
<td class="nump">668<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">416<span></span>
</td>
<td class="nump">416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(107,901)<span></span>
</td>
<td class="num">(107,901)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(107,901)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(627)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(627)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Mar. 31, 2024</a></td>
<td class="nump">$ 4,164,587<span></span>
</td>
<td class="nump">4,144,753<span></span>
</td>
<td class="nump">1,736<span></span>
</td>
<td class="nump">5,515,820<span></span>
</td>
<td class="nump">9,870<span></span>
</td>
<td class="num">(1,382,673)<span></span>
</td>
<td class="nump">19,834<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Dec. 31, 2023</a></td>
<td class="nump">$ 4,387,504<span></span>
</td>
<td class="nump">4,367,711<span></span>
</td>
<td class="nump">1,732<span></span>
</td>
<td class="nump">5,507,459<span></span>
</td>
<td class="nump">9,454<span></span>
</td>
<td class="num">(1,150,934)<span></span>
</td>
<td class="nump">19,793<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">(11,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(239,216)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">1,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(297,318)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Sep. 30, 2024</a></td>
<td class="nump">$ 3,860,397<span></span>
</td>
<td class="nump">3,844,592<span></span>
</td>
<td class="nump">1,730<span></span>
</td>
<td class="nump">5,521,305<span></span>
</td>
<td class="nump">11,091<span></span>
</td>
<td class="num">(1,689,534)<span></span>
</td>
<td class="nump">15,805<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 1.71<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Mar. 31, 2024</a></td>
<td class="nump">$ 4,164,587<span></span>
</td>
<td class="nump">4,144,753<span></span>
</td>
<td class="nump">1,736<span></span>
</td>
<td class="nump">5,515,820<span></span>
</td>
<td class="nump">9,870<span></span>
</td>
<td class="num">(1,382,673)<span></span>
</td>
<td class="nump">19,834<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,761<span></span>
</td>
<td class="nump">7,761<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,761<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">261<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">261<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">201<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(60,202)<span></span>
</td>
<td class="num">(61,057)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(61,057)<span></span>
</td>
<td class="nump">855<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">458<span></span>
</td>
<td class="nump">458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(107,873)<span></span>
</td>
<td class="num">(107,873)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(107,873)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Contributions from non-controlling interests</a></td>
<td class="nump">1,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,245<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(1,840)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,840)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Jun. 30, 2024</a></td>
<td class="nump">$ 4,004,598<span></span>
</td>
<td class="nump">3,984,504<span></span>
</td>
<td class="nump">1,736<span></span>
</td>
<td class="nump">5,524,043<span></span>
</td>
<td class="nump">10,328<span></span>
</td>
<td class="num">(1,551,603)<span></span>
</td>
<td class="nump">20,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">$ (10,998)<span></span>
</td>
<td class="num">(10,998)<span></span>
</td>
<td class="num">(6)<span></span>
</td>
<td class="num">(10,992)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,728<span></span>
</td>
<td class="nump">7,728<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,728<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">270<span></span>
</td>
<td class="nump">270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">256<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(55,844)<span></span>
</td>
<td class="num">(56,384)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(56,384)<span></span>
</td>
<td class="nump">540<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">763<span></span>
</td>
<td class="nump">763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(81,547)<span></span>
</td>
<td class="num">(81,547)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(81,547)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(4,829)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4,829)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Sep. 30, 2024</a></td>
<td class="nump">$ 3,860,397<span></span>
</td>
<td class="nump">3,844,592<span></span>
</td>
<td class="nump">1,730<span></span>
</td>
<td class="nump">5,521,305<span></span>
</td>
<td class="nump">11,091<span></span>
</td>
<td class="num">(1,689,534)<span></span>
</td>
<td class="nump">15,805<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Dec. 31, 2024</a></td>
<td class="nump">$ 3,794,189<span></span>
</td>
<td class="nump">3,787,308<span></span>
</td>
<td class="nump">1,728<span></span>
</td>
<td class="nump">5,511,053<span></span>
</td>
<td class="nump">8,268<span></span>
</td>
<td class="num">(1,733,741)<span></span>
</td>
<td class="nump">6,881<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Shares of class A common stock issued, net</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="num">(1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">(31,647)<span></span>
</td>
<td class="num">(31,647)<span></span>
</td>
<td class="num">(18)<span></span>
</td>
<td class="num">(31,629)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">6,792<span></span>
</td>
<td class="nump">6,792<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">6,787<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">213<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">173<span></span>
</td>
<td class="nump">173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="num">(351)<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(357)<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">323<span></span>
</td>
<td class="nump">323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(80,837)<span></span>
</td>
<td class="num">(80,837)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80,837)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(137)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(137)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Mar. 31, 2025</a></td>
<td class="nump">$ 3,688,718<span></span>
</td>
<td class="nump">3,681,968<span></span>
</td>
<td class="nump">1,716<span></span>
</td>
<td class="nump">5,486,596<span></span>
</td>
<td class="nump">8,591<span></span>
</td>
<td class="num">(1,814,935)<span></span>
</td>
<td class="nump">6,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Dec. 31, 2024</a></td>
<td class="nump">$ 3,794,189<span></span>
</td>
<td class="nump">3,787,308<span></span>
</td>
<td class="nump">1,728<span></span>
</td>
<td class="nump">5,511,053<span></span>
</td>
<td class="nump">8,268<span></span>
</td>
<td class="num">(1,733,741)<span></span>
</td>
<td class="nump">6,881<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">(47,700)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">70,041<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">1,052<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(242,014)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Sep. 30, 2025</a></td>
<td class="nump">$ 3,597,403<span></span>
</td>
<td class="nump">3,590,702<span></span>
</td>
<td class="nump">1,707<span></span>
</td>
<td class="nump">5,485,421<span></span>
</td>
<td class="nump">9,320<span></span>
</td>
<td class="num">(1,905,746)<span></span>
</td>
<td class="nump">6,701<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 1.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Beginning balance at Mar. 31, 2025</a></td>
<td class="nump">$ 3,688,718<span></span>
</td>
<td class="nump">3,681,968<span></span>
</td>
<td class="nump">1,716<span></span>
</td>
<td class="nump">5,486,596<span></span>
</td>
<td class="nump">8,591<span></span>
</td>
<td class="num">(1,814,935)<span></span>
</td>
<td class="nump">6,750<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">(39)<span></span>
</td>
<td class="num">(39)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(39)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,131<span></span>
</td>
<td class="nump">7,131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,131<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">160<span></span>
</td>
<td class="nump">160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">172<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">6,984<span></span>
</td>
<td class="nump">6,969<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,969<span></span>
</td>
<td class="nump">15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="nump">1,207<span></span>
</td>
<td class="nump">1,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,207<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(80,796)<span></span>
</td>
<td class="num">(80,796)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80,796)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Jun. 30, 2025</a></td>
<td class="nump">$ 3,623,537<span></span>
</td>
<td class="nump">3,616,772<span></span>
</td>
<td class="nump">1,716<span></span>
</td>
<td class="nump">5,494,020<span></span>
</td>
<td class="nump">9,798<span></span>
</td>
<td class="num">(1,888,762)<span></span>
</td>
<td class="nump">6,765<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="num">$ (16,066)<span></span>
</td>
<td class="num">(16,066)<span></span>
</td>
<td class="num">(9)<span></span>
</td>
<td class="num">(16,057)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockGrantedDuringPeriodValueSharebasedCompensation', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,130<span></span>
</td>
<td class="nump">7,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan', window );">Dividends reinvested</a></td>
<td class="nump">156<span></span>
</td>
<td class="nump">156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation', window );">Deferred directors&#8217; compensation</a></td>
<td class="nump">172<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">63,408<span></span>
</td>
<td class="nump">63,397<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,397<span></span>
</td>
<td class="nump">11<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive income (loss)</a></td>
<td class="num">(478)<span></span>
</td>
<td class="num">(478)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(478)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends declared on common stock and deferred stock units</a></td>
<td class="num">(80,381)<span></span>
</td>
<td class="num">(80,381)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(80,381)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(75)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(75)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Ending balance at Sep. 30, 2025</a></td>
<td class="nump">$ 3,597,403<span></span>
</td>
<td class="nump">$ 3,590,702<span></span>
</td>
<td class="nump">$ 1,707<span></span>
</td>
<td class="nump">$ 5,485,421<span></span>
</td>
<td class="nump">$ 9,320<span></span>
</td>
<td class="num">$ (1,905,746)<span></span>
</td>
<td class="nump">$ 6,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Adjustments To Additional Paid In Capital, Deferred Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AdjustmentsToAdditionalPaidInCapitalDeferredCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Dividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -SubTopic 405<br> -Topic 942<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477787/942-405-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Dividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 23<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-23<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(2)<br> -SubTopic 10<br> -Topic 810<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481694/830-30-45-17<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-4<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-5<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 20<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(21))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(23))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 15<br> -SubTopic 10<br> -Topic 220<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482739/220-10-55-15<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
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<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value, after forfeiture, of shares granted under share-based payment arrangement. Excludes employee stock ownership plan (ESOP).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 30<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480513/718-10-30-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued during the period from a dividend reinvestment plan (DRIP). A dividend reinvestment plan allows the holder of the stock to reinvest dividends paid to them by the entity on new issues of stock by the entity.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478009/946-205-45-4<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478009/946-205-45-4<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementOfStockholdersEquityAbstract', window );"><strong>Statement of Stockholders' Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 1.41<span></span>
</td>
<td class="nump">$ 1.71<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
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<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfStockholdersEquityAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfStockholdersEquityAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<td>duration</td>
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<html>
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<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Cash Flows (Unaudited) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Provided by (Used in) Operating Activity, Including Discontinued Operation [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net (loss) income</a></td>
<td class="nump">$ 70,041,000<span></span>
</td>
<td class="num">$ (239,216,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Non-cash compensation expense</a></td>
<td class="nump">21,570,000<span></span>
</td>
<td class="nump">24,058,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet', window );">Amortization of deferred fees on loans</a></td>
<td class="num">(45,390,000)<span></span>
</td>
<td class="num">(50,568,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of deferred financing costs and premiums/discounts on debt obligations</a></td>
<td class="nump">27,331,000<span></span>
</td>
<td class="nump">32,185,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PaymentInKindInterestNetOfInterestReceived', window );">Payment-in-kind interest</a></td>
<td class="num">(13,448,000)<span></span>
</td>
<td class="num">(9,612,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal', window );">Increase in current expected credit loss reserve</a></td>
<td class="nump">94,111,000<span></span>
</td>
<td class="nump">519,747,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StraightLineRent', window );">Straight-line rental income</a></td>
<td class="nump">1,791,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(5,352,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization of real estate owned</a></td>
<td class="nump">47,960,000<span></span>
</td>
<td class="nump">1,214,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Income from unconsolidated entities</a></td>
<td class="num">(1,035,000)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Unrealized loss (gain) on derivative financial instruments, net</a></td>
<td class="nump">3,059,000<span></span>
</td>
<td class="num">(6,346,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet', window );">Realized gain on derivative financial instruments, net</a></td>
<td class="num">(16,846,000)<span></span>
</td>
<td class="num">(6,923,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract', window );"><strong>Changes in assets and liabilities, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="num">(37,181,000)<span></span>
</td>
<td class="nump">52,699,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities', window );">Other liabilities</a></td>
<td class="num">(12,398,000)<span></span>
</td>
<td class="num">(29,978,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">139,565,000<span></span>
</td>
<td class="nump">281,908,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromLoansReceivable', window );">Principal fundings of loans receivable</a></td>
<td class="num">(3,931,823,000)<span></span>
</td>
<td class="num">(982,229,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable', window );">Principal collections, sales proceeds, and cost-recovery proceeds from loans receivable</a></td>
<td class="nump">4,771,001,000<span></span>
</td>
<td class="nump">3,135,968,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees', window );">Origination and other fees received on loans receivable</a></td>
<td class="nump">46,882,000<span></span>
</td>
<td class="nump">26,140,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities', window );">Payments under derivative financial instruments</a></td>
<td class="num">(198,264,000)<span></span>
</td>
<td class="num">(140,566,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities', window );">Receipts under derivative financial instruments</a></td>
<td class="nump">96,102,000<span></span>
</td>
<td class="nump">56,767,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities', window );">Collateral deposited under derivative agreements</a></td>
<td class="num">(391,380,000)<span></span>
</td>
<td class="num">(184,220,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities', window );">Return of collateral deposited under derivative agreements</a></td>
<td class="nump">396,190,000<span></span>
</td>
<td class="nump">238,640,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireEquityMethodInvestments', window );">Investment in unconsolidated entities</a></td>
<td class="num">(178,664,000)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CapitalExpenditureRealEstateOwned', window );">Capital expenditures on real estate owned</a></td>
<td class="num">(8,480,000)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by investing activities</a></td>
<td class="nump">601,564,000<span></span>
</td>
<td class="nump">2,150,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations', window );">Proceeds from issuance of securitized debt obligations</a></td>
<td class="nump">831,250,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RepaymentsOfLoanParticipations', window );">Repayments of loan participations</a></td>
<td class="num">(104,028,000)<span></span>
</td>
<td class="num">(235,960,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Payment of deferred financing costs</a></td>
<td class="num">(36,541,000)<span></span>
</td>
<td class="num">(18,126,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromMinorityShareholders', window );">Contributions from non-controlling interests</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,245,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToMinorityShareholders', window );">Distributions to non-controlling interests</a></td>
<td class="num">(212,000)<span></span>
</td>
<td class="num">(7,296,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsCommonStock', window );">Dividends paid on class A common stock</a></td>
<td class="num">(242,492,000)<span></span>
</td>
<td class="num">(322,712,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Repurchases of class A common stock</a></td>
<td class="num">(47,752,000)<span></span>
</td>
<td class="num">(10,998,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash used in financing activities</a></td>
<td class="num">(694,160,000)<span></span>
</td>
<td class="num">(2,458,947,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect', window );">Net increase (decrease) in cash and cash equivalents</a></td>
<td class="nump">46,969,000<span></span>
</td>
<td class="num">(26,539,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">323,483,000<span></span>
</td>
<td class="nump">350,014,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Effects of currency translation on cash and cash equivalents</a></td>
<td class="nump">7,469,000<span></span>
</td>
<td class="num">(1,371,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash and cash equivalents at end of period</a></td>
<td class="nump">377,921,000<span></span>
</td>
<td class="nump">322,104,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosure of cash flows information</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Payments of interest</a></td>
<td class="num">(736,904,000)<span></span>
</td>
<td class="num">(993,434,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Payments of income taxes</a></td>
<td class="num">(3,424,000)<span></span>
</td>
<td class="num">(4,653,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NoncashInvestingAndFinancingItemsAbstract', window );"><strong>Supplemental disclosure of non-cash investing and financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrentAndNoncurrent', window );">Dividends declared, not paid</a></td>
<td class="num">(80,238,000)<span></span>
</td>
<td class="num">(81,306,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanPrincipalPaymentsHeldByServicer', window );">Loan principal payments held by servicer, net</a></td>
<td class="nump">199,492,000<span></span>
</td>
<td class="nump">26,269,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TransferToOtherRealEstate', window );">Transfer of senior loan to real estate owned</a></td>
<td class="nump">358,088,000<span></span>
</td>
<td class="nump">139,239,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities', window );">Assumption of other assets and liabilities related to real estate owned</a></td>
<td class="nump">48,184,000<span></span>
</td>
<td class="nump">16,256,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid', window );">Accrued capital expenditures on real estate owned</a></td>
<td class="nump">19,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Borrowings under long-term debt</a></td>
<td class="nump">2,956,828,000<span></span>
</td>
<td class="nump">1,016,974,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="num">(3,299,746,000)<span></span>
</td>
<td class="num">(2,742,691,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="num">(193,342,000)<span></span>
</td>
<td class="num">(259,081,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Borrowings under long-term debt</a></td>
<td class="nump">334,460,000<span></span>
</td>
<td class="nump">197,141,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="num">(936,275,000)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of deferred financing costs and premiums/discounts on debt obligations</a></td>
<td class="nump">8,381,000<span></span>
</td>
<td class="nump">6,848,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt', window );">Borrowings under long-term debt</a></td>
<td class="nump">50,000,000<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="num">(6,310,000)<span></span>
</td>
<td class="num">(18,797,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of deferred financing costs and premiums/discounts on debt obligations</a></td>
<td class="nump">2,003,000<span></span>
</td>
<td class="nump">775,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(27,222,000)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income (loss) to net cash provided by operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Amortization of deferred financing costs and premiums/discounts on debt obligations</a></td>
<td class="nump">847,000<span></span>
</td>
<td class="nump">944,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,000,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayments and repurchases of long-term debt</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (31,424,000)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CapitalExpenditureRealEstateOwned">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Capital Expenditure, Real Estate Owned</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CapitalExpenditureRealEstateOwned</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanPrincipalPaymentsHeldByServicer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan principal payments held by servicer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanPrincipalPaymentsHeldByServicer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_PaymentInKindInterestNetOfInterestReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payment-In-Kind Interest, Net Of Interest Received</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_PaymentInKindInterestNetOfInterestReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments For Collateral Deposit On Derivative Instrument, Investing Activities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_PaymentsForCollateralDepositOnDerivativeInstrumentInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Collateral Deposit On Derivative Instrument, Investing Activities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ProceedsFromCollateralDepositOnDerivativeInstrumentInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Issuance of Collateralized Loan Obligations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ProceedsFromIssuanceOfCollateralizedLoanObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Loan Origination And Other Loan Receivable Fees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Assumption Of Other Assets And Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedAssumptionOfOtherAssetsAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Capital Expenditures Incurred But Not Yet Paid</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedCapitalExpendituresIncurredButNotYetPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Realized Gains Losses On Derivative Financial Instruments Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealizedGainsLossesOnDerivativeFinancialInstrumentsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RepaymentsOfLoanParticipations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents repayments of loan participants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RepaymentsOfLoanParticipations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net increase(decrease) in interest income during the period representing the allocation of deferred loan origination fees less deferred loan origination costs using the effective interest method over the term of the debt arrangement to which they pertain taking into account the effect of prepayments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481655/310-20-35-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDeferredLoanOriginationFeesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCostsAndDiscounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; attributable to continuing operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding effect from change in exchange rate, of increase (decrease) in cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; including, but not limited to, discontinued operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -SubTopic 230<br> -Topic 830<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477401/830-230-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeGainLossOnDerivativeNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainLossOnDerivativeNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 405<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478790/946-405-45-2<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from effect of exchange rate change on cash and cash equivalent, and cash and cash equivalent restricted to withdrawal or usage; held in foreign currency; attributable to continuing operation. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 230<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477401/830-230-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of credit loss expense (reversal of expense) on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476148/220-40-50-22<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestCreditLossExpenseReversal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after refund, of cash paid to foreign, federal, state, and local jurisdictions as income tax.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 23<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-22<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in operating liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-17<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-25<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activity, including, but not limited to, discontinued operation. Financing activity includes, but is not limited to, obtaining resource from owner and providing return on, and return of, their investment; borrowing money and repaying amount borrowed, or settling obligation; and obtaining and paying for other resource obtained from creditor on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activity, including, but not limited to, discontinued operation. Investing activity includes, but is not limited to, making and collecting loan, acquiring and disposing of debt and equity instruments, property, plant, and equipment, and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activity, including, but not limited to, discontinued operation. Operating activity includes, but is not limited to, transaction, adjustment, and change in value not defined as investing or financing activity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashInvestingAndFinancingItemsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashInvestingAndFinancingItemsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for derivative instruments during the period, which are classified as investing activities, excluding those designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForDerivativeInstrumentInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromLoansReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net amount paid or received by the reporting entity associated with purchase (sale or collection) of loans receivable arising from the financing of goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-8<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 9<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-9<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForProceedsFromLoansReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDividendsCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToMinorityShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Excludes dividends paid to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToMinorityShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow provided by derivative instruments during the period, which are classified as investing activities, excluding those designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 12<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDerivativeInstrumentInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromMinorityShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from a noncontrolling interest. Includes, but is not limited to, purchase of additional shares or other increase in noncontrolling interest ownership.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromMinorityShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the sale and collection of loans receivables arising from the financing of goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleAndCollectionOfLoansReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StraightLineRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between actual rental income due and rental income recognized on a straight-line basis.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StraightLineRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransferToOtherRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value transferred from mortgage loans to real estate owned (REO) in noncash transactions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-4<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-3<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransferToOtherRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock', window );">Organization</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ORGANIZATION<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 95pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">References herein to &#8220;Blackstone Mortgage Trust,&#8221; &#8220;Company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; or &#8220;our&#8221; refer to Blackstone Mortgage Trust,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 396.75pt">Inc., a Maryland corporation, and its subsidiaries unless the context specifically requires otherwise.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 455.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 130pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Blackstone Mortgage Trust is a real estate finance company that originates, acquires, and manages senior loans and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">debt or credit-oriented investments collateralized by or relating to commercial real estate in North America, Europe, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Australia. Our portfolio is composed primarily of senior loans secured by high-quality, institutional assets located in major<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">markets, and sponsored by experienced, well-capitalized real estate investment owners and operators. We finance our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">investments in a variety of ways, including borrowing under our credit facilities, issuing collateralized loan obligations, or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">CLOs, or single-asset securitizations, asset-specific financings, syndicating senior loan participations, and corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financing, depending on our view of the most prudent financing option available for each of our investments. We are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">externally managed by BXMT Advisors L.L.C., or our Manager, a subsidiary of Blackstone Inc., or Blackstone, and are a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 476.71pt">real estate investment trust, or REIT, traded on the New York Stock Exchange, or NYSE, under the symbol &#8220;BXMT.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.28pt"> Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 404.33pt">principal executive offices are located at 345 Park Avenue, 24th Floor, New York, New York 10154.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">We conduct our operations as a REIT for U.S. federal income tax purposes. We generally will not be subject to U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">income taxes on our taxable income to the extent that we annually distribute all of our net taxable income to stockholders<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">and maintain our qualification as a REIT. We also operate our business in a manner that permits us to maintain an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">exclusion from registration under the Investment Company Act of 1940, as amended. We are organized as a holding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.08pt">company and conduct our business primarily through our various subsidiaries.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480424/946-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480424/946-10-50-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 810<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/810/tableOfContent<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480922/205-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481034/205-10-S45-5<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/205/tableOfContent<br></p></div>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.97pt">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 329.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 350pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 361.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">principles generally accepted in the United States of America, or GAAP, for interim financial information and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">instructions to Form 10-Q and Rule 10-01 of Regulation S-X. The consolidated financial statements, including the notes<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">thereto, are unaudited and exclude some of the disclosures required in audited financial statements. We believe we have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">made all necessary adjustments, consisting of only normal recurring items, so that the consolidated financial statements are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">presented fairly and that estimates made in preparing our consolidated financial statements are reasonable and prudent. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">operating results presented for interim periods are not necessarily indicative of the results that may be expected for any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">other interim period or for the entire year. The accompanying unaudited consolidated interim financial statements should<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.87pt">the fiscal year ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.83pt"> filed with the Securities and Exchange Commission, or the SEC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.37pt">Basis of Presentation<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The accompanying consolidated financial statements include, on a consolidated basis, our accounts, the accounts of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">wholly-owned subsidiaries, majority-owned subsidiaries, and variable interest entities, or VIEs, of which we are the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 414.72pt">primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.47pt">Principles of Consolidation<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 173.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We consolidate all entities that we control through either majority ownership or voting rights. In addition, we consolidate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">all VIEs of which we are considered the primary beneficiary. VIEs are defined as entities in which equity investors (i) do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">not have an interest with the characteristics of a controlling financial interest and/or (ii) do not have sufficient equity at risk<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for the entity to finance its activities without additional subordinated financial support from other parties. The entity that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">consolidates a VIE is known as its primary beneficiary and is generally the entity with (i) the power to direct the activities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">that most significantly affect the VIE&#8217;s economic performance and (ii) the right to receive benefits from the VIE or the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">obligation to absorb losses of the VIE that could be significant to the VIE. Entities that do not qualify as VIEs are generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">considered voting interest entities, or VOEs, and are evaluated for consolidation under the voting interest model. VOEs are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 662.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.71pt">consolidated when we control the entity through a majority voting interest or other means.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">For consolidated entities, the non-controlling partner&#8217;s share of the assets, liabilities, and operations of each joint venture is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">included in non-controlling interests as a component of total equity. The non-controlling partner&#8217;s interest is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.59pt">computed as the joint venture partner&#8217;s ownership percentage.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">When the requirements for consolidation are not met and we have significant influence over the operations of the entity, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.89pt">investment is accounted for under the equity method of accounting.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.97pt"> Investments in unconsolidated entities for which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not elected the fair value option, or FVO, are initially recorded at cost and subsequently adjusted for our pro-rata<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">share of net income, contributions and distributions. When we elect the FVO, we record our share of the net asset value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 214.44pt">the entity and any related unrealized gains and losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We review our investments in unconsolidated entities for impairment each quarter or when there is an event or change in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">circumstances that indicates a decrease in value. If there is a decrease in value due to a series of operating losses or other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 492.2pt">factors, the investment is evaluated to determine if the loss in value is considered other than temporary. Although a curren<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">t<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">fair value below the carrying value of the investment is an indicator of impairment, we will only recognize an impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">if the loss in value is determined to be an other than temporary impairment. If an impairment is determined to be other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">temporary, we will record an impairment charge sufficient to reduce the investment&#8217;s carrying value to its fair value, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">would result in a new cost basis. This new cost basis will be used for future periods when recording subsequent income or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.82pt">loss and cannot be written up to a higher value as a result of increases in fair value.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In 2017, we entered into a joint venture with Walker &amp; Dunlop Inc., or Walker &amp; Dunlop, to originate, hold, and finance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">multifamily bridge loans, which we refer to as our Multifamily Joint Venture. Pursuant to the terms of the agreements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.83pt">governing the joint venture, Walker &amp; Dunlop contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.33000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">15%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 212pt"> of the venture&#8217;s equity capital and we contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">We consolidate our Multifamily Joint Venture as we have a controlling financial interest. The non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">included on our consolidated balance sheets represent the equity interests in our Multifamily Joint Venture that are owned<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">by Walker &amp; Dunlop. A portion of our Multifamily Joint Venture&#8217;s consolidated equity and results of operations are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">allocated to these non-controlling interests based on Walker &amp; Dunlop&#8217;s pro rata ownership of our Multifamily Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">Venture.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">In 2024, we entered into a joint venture with a Blackstone-advised investment vehicle to invest in triple net lease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.6pt">properties, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.8pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.81pt">. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.79pt">Net Lease Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.14pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.05pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.3pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.86pt">We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.59pt"> do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.71pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.83pt"> as we do not have a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.11pt">controlling financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.44pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.32pt"> is accounted for under the equity method, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.13pt">is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.67pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.16pt"> on our consolidated balance sheets, and our pro-rata share of income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.59pt">(loss) is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In the second quarter of 2025, we entered into a joint venture with a Blackstone-advised investment vehicle to acquire<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.46pt">portfolios of performing commercial mortgage loans, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.6pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.78pt">. During<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.19pt">the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.81pt">, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.72pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.37pt"> acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.12pt"> portfolios of performing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 287.08pt">commercial mortgage loans. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.04pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.68pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.79pt"> as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.17pt">. We do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.24pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.46pt"> as we do not have a controlling<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.36pt">financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.8pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.8pt"> is accounted for using the FVO, and is recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.83pt">as an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.54pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.51pt"> on our consolidated balance sheets, and our pro-rata share of any unrealized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.77pt">gains and losses is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">Use of Estimates<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 551.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.74pt">period. Actual results may ultimately differ materially from those estimates.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 604pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.2pt">Revenue Recognition<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 148.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Interest income from our loans receivable portfolio is recognized over the life of each loan using the effective interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">method and is recorded on the accrual basis. Recognition of fees, premiums, and discounts associated with these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.05pt">investments is deferred and recorded over the term of the loan as an adjustment to yield.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.08pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.84pt">Income accrual is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">suspended for loans at the earlier of the date at which payments become 90 days past due or when, in our opinion, recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.48pt">of income and principal becomes doubtful<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 229.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 321.01pt"> Interest received is then recorded as income or as a reduction in the amortized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">cost basis, based on the specific facts and circumstances, until accrual is resumed when the loan becomes contractually<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.79pt">current <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.94pt">and performance is demonstrated to be resumed.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.24pt"> In addition, for loans we originate, the related origination expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">are deferred and recognized as a reduction to interest income, however expenses related to loans we acquire are included in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.63pt">general and administrative expenses as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">The sources of revenue from our REO assets, which is included in revenue from real estate owned on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 337.33pt">statements of operations, and the related revenue recognition policies are as follows:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Rental income primarily consists of base rent income arising from tenant leases at our office and multifamily properties.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">We begin to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.68pt">space.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Other operating income primarily consists of income from our hospitality properties and tenant reimbursement income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Revenue from our hospitality properties consists primarily of room revenue and food and beverage revenue. Room revenue<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.78pt">maintenance, real estate taxes, and other recoverable costs included in lease agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">We evaluate the collectibility of receivables related to rental revenue on an individual lease basis and exercise judgment in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">assessing collectability considering the length of time a receivable has been outstanding, tenant credit-worthiness, payment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">history, available information about the financial condition of the tenant, and current economic trends, among other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.04pt">Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.49pt">Cash and Cash Equivalents<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Cash and cash equivalents represent cash held in banks and liquid investments with original maturities of three months or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.98pt">less<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.4pt"> We may have bank balances in excess of federally insured amounts; however, we deposit our cash and cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">equivalents with high credit-quality institutions to minimize credit risk exposure. We have not experienced, and do not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.69pt">expect, any losses on our cash or cash equivalents. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.77pt">As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.58pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.02pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.6pt">we had<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.52pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 543.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.15pt">restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.06pt"> cash on our consolidated balance <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.41pt">sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.65pt">Loans Receivable<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">We originate and purchase commercial real estate debt and related instruments generally to be held as long-term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.94pt">investments at amortized cost.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 173.69pt">Current Expected Credit Losses Reserve<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The current expected credit loss, or CECL, reserve required under the Financial Accounting Standards Board, or FASB,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Accounting Standards Codification, or ASC, Topic 326 &#8220;Financial Instruments &#8211; Credit Losses,&#8221; or ASC 326, reflects our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">current estimate of potential credit losses related to our loans and notes receivable included in our consolidated balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">sheets. Changes to the CECL reserves are recognized through net income on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">While ASC 326 does not require any particular method for determining the CECL reserves, it does specify the reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">should be based on relevant information about past events, including historical loss experience, current portfolio and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">market conditions, and reasonable and supportable forecasts for the duration of each respective loan. In addition, other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">a few narrow exceptions, ASC 326 requires that all financial instruments subject to the CECL model have some amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">loss reserve to reflect the principle underlying the CECL model that all loans and similar assets have some inherent risk of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.16pt">loss, regardless of credit quality, subordinate capital, or other mitigating factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We estimate our CECL reserves primarily using the Weighted-Average Remaining Maturity, or WARM method, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">has been identified as an acceptable loss-rate method for estimating CECL reserves in FASB Staff Q&amp;A Topic 326, No. 1.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The WARM method requires us to reference historic loan loss data across a comparable data set and apply such loss rate to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">each of our loans over their expected remaining term, taking into consideration expected economic conditions over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">relevant time frame. We apply the WARM method for the majority of our loan portfolio, which consists of loans that share<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">similar risk characteristics. In certain instances, for loans with unique risk characteristics, we may instead use a probability-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 469.45pt">weighted model that considers the likelihood of default and expected loss given default for each such individual loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 663pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Application of the WARM method to estimate CECL reserves requires judgment, including (i) the appropriate historical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">loan loss reference data, (ii) the expected timing and amount of future loan fundings and repayments, and (iii) the current<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit quality of our portfolio and our expectations of performance and market conditions over the relevant time period. To<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">estimate the historic loan losses relevant to our portfolio, we have augmented our historical loan performance, with market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">loan loss data licensed from Trepp LLC. This database includes commercial mortgage-backed securities, or CMBS, issued<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.35pt">since January 1, 1999 through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.04pt">August&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.45pt">. Within this database, we focused our historical loss reference calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">on the most relevant subset of available CMBS data, which we determined based on loan metrics that are most comparable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">to our loan portfolio including asset type, geography, and origination loan-to-value, or LTV. We believe this CMBS data,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">which includes month-over-month loan and property performance, is the most relevant, available, and comparable dataset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.57pt">to our portfolio.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Our loans typically include commitments to fund incremental proceeds to our borrowers over the life of the loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">future funding commitments are also subject to the CECL model. The CECL reserve related to future loan fundings is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">recorded as a component of other liabilities on our consolidated balance sheets. This CECL reserve is estimated using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same process outlined above for our outstanding loan balances, and changes in this component of the CECL reserve will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">similarly impact our consolidated net income. For both the funded and unfunded portions of our loans, we consider our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.25pt">internal risk rating of each loan as the primary credit quality indicator underlying our assessment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The CECL reserves are measured on a collective basis wherever similar risk characteristics exist within a pool of similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.37pt">assets. We have identified the following pools and measure the reserve for credit losses using the following methods:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 526.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.25pt">U.S. Loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.68pt">: WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.02pt">Non-U.S. Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.87pt"> WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.04pt">Unique Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.98pt"> a probability of default and loss given default model, assessed on an individual basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.58pt">Impaired Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.07999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 381.21pt">impairment is indicated when it is deemed probable that we will not be able to collect all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">amounts due to us pursuant to the contractual terms of the loan. Determining that a loan is impaired requires<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">significant judgment from management and is based on several factors including (i) the underlying collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">performance, (ii) discussions with the borrower, (iii) borrower events of default, and (iv) other facts that impact<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">the borrower&#8217;s ability to pay the contractual amounts due under the terms of the loan. If a loan is determined to be<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">impaired, we record the impairment as a component of our CECL reserves by applying the practical expedient for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">collateral dependent loans. The CECL reserves are assessed on an individual basis for these loans by comparing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">the estimated fair value of the underlying collateral, less costs to sell, to the book value of the respective loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">These valuations require significant judgments, which include assumptions regarding capitalization rates, discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">rates, leasing, creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">sponsorship, actions of other lenders, and other factors deemed relevant by us. Actual losses, if any, could<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">ultimately differ materially from these estimates. We only expect to charge off the impairment losses in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.87pt">consolidated financial statements prepared in accordance with GAAP if and when such amounts are deemed non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">recoverable. This is generally at the time a loan is repaid or foreclosed, or the underlying collateral assets are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">otherwise consolidated. However, non-recoverability may also be concluded if, in our determination, it is nearly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.65pt">certain that all amounts due will not be collected.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 499.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.82pt">Contractual Term and Unfunded Loan Commitments<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 270.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Expected credit losses are estimated over the contractual term of each loan, adjusted for expected repayments. As part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">our quarterly review of our loan portfolio, we assess the expected repayment date of each loan, which is used to determine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.71pt">the contractual term for purposes of computing our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Additionally, the expected credit losses over the contractual period of our loans are subject to the obligation to extend<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">credit through our unfunded loan commitments. The CECL reserve for unfunded loan commitments is adjusted quarterly,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">as we consider the expected timing of future funding obligations over the estimated life of the loan. The considerations in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">estimating our CECL reserve for unfunded loan commitments are similar to those used for the related outstanding loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.52pt">receivable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.02000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.67pt">Credit Quality Indicator<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 156.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Our risk rating is our primary credit quality indicator in assessing our current expected credit loss reserve. We perform a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">quarterly risk review of our portfolio of loans, and assign each loan a risk rating based on a variety of factors, including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">without limitation, origination LTV, debt yield, property type, geographic and local market dynamics, physical condition,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">cash flow volatility, leasing and tenant profile, loan structure and exit plan, and project sponsorship. Based on a 5-point<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">scale, our loans are rated &#8220;l&#8221; through &#8220;5,&#8221; from less risk to greater risk, relative to our loan portfolio in the aggregate, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.41pt">ratings are defined as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">1 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.4pt">Very Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 158.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">2 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.82pt">Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">3 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.02pt">Medium Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 152.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">4 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.63pt">High Risk/Potential for Loss:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.87pt"> A loan that has a risk of realizing a principal loss.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">5 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.94pt">Impaired/Loss Likely:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.93pt"> A loan that has a very high risk of realizing a principal loss or has otherwise incurred a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.05pt">principal loss.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 194pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.37pt">Estimation of Economic Conditions<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 200.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 211.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">In addition to the WARM method computations and probability-weighted models described above, our CECL reserves are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">also adjusted to reflect our estimation of the current and future economic conditions that impact the performance of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">commercial real estate assets securing our loans. These estimations include unemployment rates, interest rates, expectations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">of inflation and/or recession, and other macroeconomic factors impacting the likelihood and magnitude of potential credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">losses for our loans during their anticipated term. In addition to the CMBS data we have licensed from Trepp LLC, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">have also licensed certain macroeconomic financial forecasts to inform our view of the potential future impact that broader<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">economic conditions may have on our loan portfolio&#8217;s performance. We generally also incorporate information from other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sources, including information and opinions available to our Manager, to further inform these estimations. This process<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">requires significant judgments about future events that, while based on the information available to us as of the balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sheet date, are ultimately indeterminate and the actual economic condition impacting our portfolio could vary significantly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">from the estimates we made as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">Real Estate Owned<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">We may assume legal title, physical possession, or control of the collateral underlying a loan through a foreclosure, a deed-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">in-lieu of foreclosure transaction, or a loan modification in which we receive an equity interest in and/or control over<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.16pt">decision-making at the property, resulting in us consolidating the real estate assets as VIEs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.24pt"> Th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.57pt">ese real estate acquisitions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">are classified as real estate owned, or REO, on our consolidated balance sheet and are initially recognized at fair value on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 398.76pt">the acquisition date in accordance with the ASC Topic 805, &#8220;Business Combinations,&#8221; or ASC 805.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Upon acquisition of REO assets, we assess the fair value of acquired tangible and intangible assets, which may include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">land, buildings, tenant improvements, &#8220;above-market&#8221; and &#8220;below-market&#8221; leases, acquired in-place leases, other identified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">intangible assets and assumed liabilities, as applicable, and allocate the fair value to the acquired assets and assumed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.79pt">liabilities. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.07pt"><span style="background-color: inherit">We assess and consider fair value based on estimated cash flow projections that utilize discount and/or</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt"><span style="background-color: inherit">capitalization rates that we deem appropriate, as well as other available market information. Estimates of future cash flows</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt"><span style="background-color: inherit">are based on a number of factors including the historical operating results, known and anticipated trends, and market and</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.96pt"><span style="background-color: inherit">economic conditions. </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.32pt">We capitalize acquisition-related costs associated with asset acquisitions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Real estate assets held for investment, except for land, are depreciated using the straight-line method over the assets&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.62pt">estimated useful lives of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">40<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.61pt"> for buildings and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.85pt"> for tenant improvements. Renovations and/or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">replacements that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Lease intangibles are amortized over the remaining term of applicable leases on a straight-line basis. The cost of ordinary<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.55pt">repairs and maintenance are expensed as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">Real estate assets held for investment are assessed for impairment on a quarterly basis. If the depreciated cost basis of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.61pt">asset exceeds the undiscounted cash <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 164.09pt">flows over the remaining holding period<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.13pt">, the asset is considered for <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.04pt">impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.07pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.84pt">impairment loss is recognized when the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.39pt">carrying value of the real estate assets exceed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.57pt"> their fair value. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.1pt"><span style="background-color: inherit">The evaluation of</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 422.46pt"><span style="background-color: inherit">rates, capital requirements and anticipated holding periods that could differ materially from actual results.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Real estate assets are classified as held for sale in the period when they meet the criteria under ASC Topic 360 &#8220;Property,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Plant, and Equipment.&#8221; Once a real estate asset is classified as held for sale, depreciation is suspended and the asset is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 288.18pt">reported at the lower of its carrying value or fair value less cost to sell<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.65pt">. If circumstances arise and we decide not to sell a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">real estate asset previously classified as held for sale, the real estate asset is reclassified as held for investment. Upon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">reclassification, the real estate asset is measured at the lower of (i) its carrying amount prior to classification as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">sale, adjusted for depreciation expense that would have been recognized had the real estate been classified as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.05pt">investment, and (ii) its estimated fair value at the time of reclassification.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.08pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.85pt">REO assets that were all classified as held for investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.8pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 136pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">In the second quarter of 2024, we entered into an agreement with M&amp;T Realty Capital Corporation, or MTRCC, a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">subsidiary of M&amp;T Bank, that allows our borrowers to access multifamily agency financing through MTRCC&#8217;s Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 159pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.2pt">Mae DUS and Freddie Mac Optigo lending platforms, or the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.37pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.42pt">. We will receive a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">portion of origination, servicing, and other fees for loans that we refer to MTRCC for origination under both the Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Mae and Freddie Mac programs. Additionally, we will share in losses with MTRCC and Fannie Mae on loans that we refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.5pt">to MTRCC for origination under the Fannie Mae program.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.59pt">Revenue Recognition<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">For loans that we refer to MTRCC for origination under both the Fannie Mae and Freddie Mac programs, we recognize our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 252pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">allocable portion of origination, servicing, and other fees in other income when we have satisfied our performance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">obligations in accordance with the &#8220;Revenue from Contracts with Customers&#8221; Topic of the FASB, or ASC 606. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">performance obligations are generally satisfied when the loan is referred by us to MTRCC and subsequently originated and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">sold under the Fannie Mae and Freddie Mac programs. A portion of the fees recognized, such as servicing fees, are variable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.21pt">and will be reevaluated for collectability on a recurring basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 327.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.02pt">Loss-sharing Obligation<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Pursuant to our agreement with MTRCC, we are subject to a loss-sharing obligation with respect to MTRCC&#8217;s obligation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">to partially guarantee the performance of loans that they originate and sell under the Fannie Mae program. This loss-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 368pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sharing agreement requires us to fund a fixed amount of cash into a segregated account based on the amount MTRCC is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.55pt">required to fund under the Fannie Mae program, with respect to loans we referred to MTRCC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">In addition, we will recognize a liability for these loss-sharing obligations. This liability will be initially recognized at fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value with a corresponding expense at inception, and it will subsequently be amortized on a straight-line basis over the life<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 471.82pt">of the loss-sharing obligation. This liability is included within other liabilities in our consolidated balance sheets. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.06pt">As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.59pt">both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 79.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.07pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.18pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.23pt">, our maximum loss-sharing obligation associated with the loans referred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 225.53pt">by us to MTRCC under the Fannie Mae program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.81pt">$5.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.69pt">, and we have recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.81pt">a related liability of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$32,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.51pt">There have been <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.33pt"> losses incurred as a result of the loss-sharing obligations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.54pt">Derivative Financial Instruments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 200.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">We classify all derivative financial instruments as either other assets or other liabilities on our consolidated balance sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 519pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.19pt">at fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">On the date we enter into a derivative contract, we designate each contract as (i) a hedge of a net investment in a foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">operation, or net investment hedge, (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">or paid related to a recognized asset or liability, or cash flow hedge, (iii) a hedge of a recognized asset or liability, or fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value hedge, or (iv) a derivative instrument not to be designated as a hedging derivative, or non-designated hedge. For all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">derivatives other than those designated as non-designated hedges, we formally document our hedge relationships and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">designation at the contract&#8217;s inception. This documentation includes the identification of the hedging instruments and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 611.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">hedged items, its risk management objectives, strategy for undertaking the hedge transaction and our evaluation of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.07pt">effectiveness of its hedged transaction.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">On a quarterly basis, we also formally assess whether the derivative we designated in each hedging relationship is expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">to be, and has been, highly effective in offsetting changes in the value or cash flows of the hedged items. If it is determined<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">changes in fair value of the instrument are included in net income prospectively. Our net investment hedges are assessed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">using a method based on changes in spot exchange rates. Gains and losses, representing hedge components excluded from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">the assessment of effectiveness, are recognized in interest income on our consolidated statements of operations over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">contractual term of our net investment hedges on a systematic and rational basis, as documented at hedge inception in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 727pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">accordance with our accounting policy election. All other changes in the fair value of our derivative instruments that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">qualify as hedges are reported as a component of accumulated other comprehensive income (loss) on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">financial statements. Deferred gains and losses are reclassified out of accumulated other comprehensive income (loss) and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">into net income in the same period or periods during which the hedged transaction affects earnings, and are presented in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same line item as the earnings effect of the hedged item. For cash flow hedges, this is typically when the periodic swap<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">settlements are made, while for net investment hedges, this occurs when the hedged item is sold or substantially liquidated.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">To the extent a derivative does not qualify for hedge accounting and is deemed a non-designated hedge, the changes in its<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.94pt">fair value are included in net income concurrently.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Proceeds or payments from periodic settlements of derivative instruments are classified on our consolidated statement of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.66pt">cash flows in the same section as the underlying hedged item.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 305.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.97pt">Secured Debt and Asset-Specific Debt<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">We record investments financed with secured debt or asset-specific debt as separate assets and the related borrowings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">under any secured debt or asset-specific debt are recorded as separate liabilities on our consolidated balance sheets. Interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">income earned on the investments and interest expense incurred on the secured debt or asset-specific debt are reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.9pt">separately on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 106.05pt">Loan Participations Sold<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In certain instances, we have executed a syndication of a non-recourse loan interest to a third party. Depending on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">particular structure of the syndication, the loan interest may remain on our GAAP balance sheet or, in other cases, the sale<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">will be recognized and the loan interest will no longer be included in our consolidated financial statements. When these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">sales are not recognized under GAAP we reflect the transaction by recording a loan participation sold liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">consolidated balance sheet, however this gross presentation does not impact stockholders&#8217; equity or net income. When the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 344pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">sales are recognized, our balance sheet only includes our remaining loan interest, and excludes the interest in the loan that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.31pt">we sold.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.46pt">Term Loans<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 110.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 402.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We record our term loans as liabilities on our consolidated balance sheets. Where applicable, any issue discount or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">transaction expenses are deferred and amortized through the maturity date of the term loans as additional non-cash interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.02pt">Senior Secured Notes<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">We record our senior secured notes as liabilities on our consolidated balance sheets. Where applicable, any issue discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 484pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">or transaction expenses are deferred and amortized through the maturity date of the senior secured notes as additional non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.82pt">cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 525pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.87pt">Convertible Notes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Convertible note proceeds, unless issued with a substantial premium or an embedded conversion feature, are classified as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">debt. Additionally, shares issuable under our convertible notes are included in diluted earnings per share in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">consolidated financial statements, if the effect is dilutive, using the if-converted method, regardless of settlement intent.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Where applicable, any issue discount or transaction expenses are deferred and amortized through the maturity date of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.43pt">convertible notes as additional non-cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.34pt">Deferred Financing Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 167.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The deferred financing costs that are included as a reduction in the net book value of the related liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 647pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">consolidated balance sheets include issuance and other costs related to our debt obligations. These costs are amortized as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.06pt">interest expense using the effective interest method over the life of the related obligations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201pt">Underwriting Commissions and Offering Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 259.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 705.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Underwriting commissions and offering costs incurred in connection with common stock offerings are reflected as a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 717pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">reduction of additional paid-in capital. Costs incurred that are not directly associated with the completion of a common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 728.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.59pt">stock offering are expensed when incurred.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.99pt">Fair Value Measurements<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.91pt">The &#8220;Fair Value Measurements and Disclosures&#8221; Topic o<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.94pt"><span style="background-color: inherit">f the FASB, or ASC 820, defines fair value, establishes a</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">framework for measuring fair value, and requires certain disclosures about fair value measurements under GAAP.</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt"><span style="background-color: inherit">Specifically, this guidance defines fair value based on exit price, or the price that would be received upon the sale of an</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 446.02pt"><span style="background-color: inherit">asset or the transfer of a liability in an orderly transaction between market participants at the measurement date.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">ASC 820 also establishes a fair value hierarchy that prioritizes and ranks the level of market price observability used in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">measuring financial instruments. Market price observability is affected by a number of factors, including the type of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financial instrument, the characteristics specific to the financial instrument, and the state of the marketplace, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">existence and transparency of transactions between market participants. Financial instruments with readily available quoted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.7pt">used in measuring fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 174.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.83pt">used in the determination, as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Level 1: Generally includes only unadjusted quoted prices that are available in active markets for identical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.16pt">financial instruments as of the reporting date.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Level 2: Pricing inputs include quoted prices in active markets for similar instruments, quoted prices in less active<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">or inactive markets for identical or similar instruments where multiple price quotes can be obtained, and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 333.76pt">observable inputs, such as interest rates, yield curves, credit risks, and default rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">Level 3: Pricing inputs are unobservable for the financial instruments and include situations where there is little, if<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">any, market activity for the financial instrument. These inputs require significant judgment or estimation by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.93pt">management of third parties when determining fair value and generally represent anything that does not meet the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 102.64pt">criteria of Levels 1 and 2.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Certain of our other assets are reported at fair value, as of quarter-end, either (i) on a recurring basis or (ii) on a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">nonrecurring basis, as a result of impairment or other events. Our assets that are recorded at fair value are discussed further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 390pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.34pt">in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.99pt">Note 19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.67pt">. We generally value our assets recorded at fair value by either (i) discounting expected cash flows based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">assumptions regarding the collection of principal and interest and estimated market rates, or (ii) obtaining assessments from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">third parties. For collateral-dependent loans that are identified as impaired, we measure impairment by comparing our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">estimation of the fair value of the underlying collateral, less costs to sell, to the book value of the respective loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">valuations require significant judgments, which include assumptions regarding capitalization rates, discount rates, leasing,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.35pt">of other lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.26pt">We have elected the FVO for one of our investments in an unconsolidated entity, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.12pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 494pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">and therefore report this investment at fair value. Given the fair value of this investment is not readily determinable, the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 222.73pt">asset value of the entity is used as a practical expedient.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.2pt">receivable with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.06pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.68pt">, net of cost-recovery proceeds. The CECL reserve was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 552pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.01pt">recorded based on our estimation of the fair value of the loans' aggregate underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">These loans receivable are therefore measured at fair value on a nonrecurring basis using significant unobservable inputs,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">and are classified as Level 3 assets in the fair value hierarchy. We estimated the fair value of the collateral underlying the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">loans receivable by considering a variety of inputs including property performance, market data, and comparable sales, as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">applicable. The significant unobservable inputs employed include the exit capitalization rate assumption used to forecast<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 317.52pt">the future sale price of the underlying real estate collateral, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">6.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.97pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">8.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.78pt">, and the unlevered discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.52pt">rate assumption, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">7.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">15.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.08pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.78pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.35pt">, we acquired legal title or otherwise consolidated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.84pt"> REO assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.89pt">through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.47pt">deed-in-lieu of foreclosure transactions or loan modifications that resulted in us consolidating the collateral assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">At the time of each acquisition, we determined the fair value of each real estate asset based on a variety of inputs including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">but not limited to, estimated cash flow projections, leasing assumptions, required capital expenditures, market data, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">comparable sales. The REO assets were measured at fair value on a nonrecurring basis using significant unobservable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">inputs and are classified as Level 3 assets in the fair value hierarchy. The significant unobservable inputs employed include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.07pt">(i) the exit capitalization rate assumption used to forecast the future sale price of the assets, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.5699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">6.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.96pt"> to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">8.55%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.96pt">, and (ii) the unlevered discount rate assumptions, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">7.75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.31pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">10.55%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.76pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 478.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.08pt">Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.97pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"> for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.36pt">further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">We are also required by GAAP to disclose fair value information about financial instruments, which are not otherwise<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reported at fair value in our consolidated balance sheet, to the extent it is practicable to estimate a fair value for those<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459.68pt">instruments. These disclosure requirements exclude certain financial instruments and all non-financial instruments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.1800000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The following methods and assumptions are used to estimate the fair value of each class of financial instruments, for which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.39pt">it is practicable to estimate that value:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.77pt">Cash and cash equivalents: The carrying amount of cash and cash equivalents approximates fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Loans receivable, net: The fair values of these loans were estimated using a discounted cash flow methodology,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">taking into consideration various factors including capitalization rates, discount rates, leasing, credit worthiness of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.89pt">major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions of other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.49pt">lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Derivative financial instruments: The fair value of our foreign currency and interest rate contracts was estimated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">using advice from a third-party derivative specialist, based on contractual cash flows and observable inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.25pt">comprising foreign currency rates and credit spreads.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Secured debt, net: The fair value of these instruments was estimated based on the rate at which a similar credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">facility would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">Securitized debt obligations, net: The fair value of these instruments was estimated by utilizing third-party pricing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">service providers. In determining the value of a particular investment, pricing service providers may use broker-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">dealer quotations, reported trades, or valuation estimates from their internal pricing models to determine the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.25pt">reported price.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.95pt">Asset-specific debt, net: The fair value of these instruments was estimated based on the rate at which a similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.53pt">agreement would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.84pt">Loan participations sold, net: The fair value of these instruments was estimated based on the value of the related<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.13pt">loan receivable asset.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Term loans, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 448pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">Senior secured notes, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.85pt">Convertible notes, net: Each series of the convertible notes is actively traded and their fair values were obtained<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.44pt">using quoted market prices.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.12pt">Income Taxes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 117.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Our financial results generally do not reflect provisions for current or deferred income taxes on our REIT taxable income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">We believe that we operate in a manner that will continue to allow us to be taxed as a REIT and, as a result, we generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">do not expect to pay substantial corporate level taxes other than those payable by our taxable REIT subsidiaries. If we were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">to fail to meet these requirements, we may be subject to federal, state, and local income tax on current and past income, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.44pt">penalties. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 17<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.9pt">Stock-Based Compensation<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 175.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Our stock-based compensation consists of awards issued to our Manager, certain individuals employed by an affiliate of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">our Manager, and certain members of our board of directors that vest over the life of the awards, as well as deferred stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">units issued to certain members of our board of directors. Stock-based compensation expense is recognized for these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">awards in net income on a variable basis over the applicable vesting period of the awards, based on the value of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.51pt">common stock. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.27pt">Earnings per Share<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 141.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Basic earnings per share, or Basic EPS, is computed in accordance with the two-class method and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">earnings allocable to our class A common stock, including restricted class A common stock and deferred stock units,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">divided by (ii) the weighted-average number of shares of our class A common stock, including restricted class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">stock and deferred stock units outstanding during the period. Our restricted class A common stock is considered a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">participating security, as defined by GAAP, and has been included in our Basic EPS under the two-class method as these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">restricted shares have the same rights as our other shares of class A common stock, including participating in any gains or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.37pt">losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">Diluted earnings per share, or Diluted EPS, is determined using the if-converted method, and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">earnings, adjusted for interest expense incurred on our convertible notes during the relevant period, net of incentive fees,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">allocable to our class A common stock, including restricted class A common stock and deferred stock units, divided by (ii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">the weighted-average number of shares of our class A common stock, including restricted class A common stock, deferred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.98pt">stock units, and shares of class A common stock issuable under our convertible notes. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.97pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.95pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 221.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.16pt">discussion of earnings per share.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.85pt">Foreign Currency<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In the normal course of business, we enter into transactions not denominated in United States, or U.S., dollars. Foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">exchange gains and losses arising on such transactions are recorded as a gain or loss in our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">operations. In addition, we consolidate entities that have a non-U.S. dollar functional currency. Non-U.S. dollar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">income, expenses, gains, and losses are translated at the average exchange rate over the applicable period. Cumulative<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">translation adjustments arising from the translation of non-U.S. dollar denominated subsidiaries are recorded in other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 119.59pt">comprehensive income (loss).<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.87pt">Recent Accounting Pronouncements<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 213.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">In July 2025, the FASB issued Accounting Standards Update, or ASU, 2025-05, which amends the guidance in ASC 326,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Financial Instruments&#8212;Credit Losses. This update provides a practical expedient related to the estimation of expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">ASC 606. The amendment notes that in developing reasonable and supportable forecasts as part of estimating expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">2025, including interim periods within those annual periods, and early adoption is permitted. We have not early adopted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">ASU 2025-05 and do not expect the adoption of ASU 2025-05 to have a material impact on our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 275.87pt">statements. We recognize revenue under ASC 606 pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.42pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.67pt"> and income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.71pt">from our hospitality REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">In May 2025, the FASB issued ASU 2025-03, which amends the guidance in ASC 805, Business Combinations. This<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">update clarifies the determination of the accounting acquirer in business combinations that are primarily effected through<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">the exchange of equity interests and involve the acquisition of a VIE. Specifically, entities are now required to consider the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">factors outlined in ASC 805-10-55-12 through 55-15 when determining the accounting acquirer, rather than defaulting to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">the primary beneficiary of the VIE as the accounting acquirer. ASU 2025-03 is effective for annual periods beginning after<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">December 15, 2026, including interim periods within those annual periods, and early adoption is permitted. We have not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 580.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">early adopted ASU 2025-03 and do not expect the adoption of ASU 2025-03 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">In November 2024, the FASB issued ASU 2024-04 &#8220;Debt with Conversion and Other Options (Subtopic 470-20): Induced<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Conversions of Convertible Debt Instruments,&#8221; or ASU 2024-04. ASU 2024-04 clarifies the accounting treatment for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">settlement of a convertible debt instrument as an induced conversion. ASU 2024-04 is effective on a prospective basis,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">with the option for retrospective application, for fiscal years beginning after December 15, 2025. We have not early<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">adopted ASU 2024-04 and do not expect the adoption of ASU 2024-04 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">In November 2024, the FASB issued ASU 2024-03 &#8220;Expense Disaggregation Disclosures (Subtopic 220-40):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Disaggregation of Income Statement Expenses,&#8221; or ASU 2024-03. ASU 2024-03 requires disclosures in the notes to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 719.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">financial statements on specified information about certain costs and expenses for each interim and annual reporting period.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">ASU 2024-03 is effective on either a prospective basis, with the option for retrospective application, for annual periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">early adoption is permitted. We have not early adopted ASU 2024-03 and do not expect the adoption of ASU 2024-03 to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 256.56pt">have a material impact on our consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">In December 2023, the FASB issued ASU 2023-09 &#8220;Income Taxes (Topic 740): Improvements to Income Tax<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Disclosures,&#8221; or ASU 2023-09. ASU 2023-09 requires additional disaggregated disclosures on an entity&#8217;s effective tax rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reconciliation and additional details on income taxes paid. ASU 2023-09 is effective on a prospective basis, with the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for retrospective application, for annual periods beginning after December 15, 2024 and early adoption is permitted. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not early adopted ASU 2023-09 and do not expect the adoption of ASU 2023-09 to have a material impact on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.07pt">consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-1<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivablesTextBlock', window );">Loans Receivable, Net</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">LOANS RECEIVABLE, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 378.71pt">The following table details overall statistics for our loans receivable portfolio ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 234pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 333.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Number of loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)">137<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)">130<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Principal balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 119.17999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)">1,532,429<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)">1,263,068<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average cash coupon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 128.02pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.24<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.46<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average all-in yield<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 121.88pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.46<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.78<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average maximum maturity (years)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre">2.4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre">2.1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 356.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Unfunded commitments will primarily be funded to finance our borrowers&#8217; construction or development of real<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">estate-related assets, capital improvements of existing assets, or lease-related expenditures. These commitments will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 370.05pt">generally be funded over the term of each loan, subject in certain cases to an expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.04pt">rates, which include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt"><span style="-sec-ix-hidden:f-600"><span style="-sec-ix-hidden:f-601">SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.16pt">, SONIA, EURIBOR, CORRA, and other indices, as applicable to each loan. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.73pt">As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.79pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 361.96pt"> of our loans by principal balance earned a floating rate of interest, primarily indexed to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt">SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.03pt">. The remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">2%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.44pt"> of our loans by principal balance earned a fixed rate of interest. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.16pt">substantially all of our loans by principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.28pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.5pt">earned a floating rate of interest, primarily indexed to SOFR. In<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.48pt">origination costs, and purchase discounts, as well as the accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.67pt">Excludes loans accounted for under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.01pt">cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 504.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.41pt">prior to such date. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.67pt">Excludes loans accounted for under the cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.82pt">. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.51pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">31%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.8pt"> of our loans by principal balance were subject to yield maintenance or other prepayment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 527.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.33pt">restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">69%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.26pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.34pt">were open to repayment by the borrower without penalty. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.06pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.8199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.76pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">10%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.9100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.59pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 426.49pt">our loans by principal balance were subject to yield maintenance or other prepayment restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">90%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.1pt"> were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.13pt">open to repayment by the borrower without penalty.<span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 384.15pt">The following table details the index rate floors for our loans receivable portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.5899999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.82pt"> ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 261.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 261.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 0pt; width: 229.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 229.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.58pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Index Rate Floors<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 13.54pt; position: var(--position); white-space: pre">Non-USD<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 54.65pt; position: var(--position); top: -2.3694999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.4005pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">180,857<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">137,149<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">318,006<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">0.00% or no floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 73.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,796,816<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">4,966,038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">6,762,854<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">0.01% to 1.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">2,628,392<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">972,584<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,600,976<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">1.01% to 2.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">676,479<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,371,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">2,048,164<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2.01% to 3.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,791,304<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">139,838<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,931,142<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">3.01% or more floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,313,773<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">213,619<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,527,392<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 23.7pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)">10,387,621<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.54pt"></span></span><span style="left: 30.169999999999998pt; position: var(--position)">7,800,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 226pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 235.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 424.85pt">Includes Euro, British Pound Sterling, Swedish Krona, Australian Dollar, and Canadian Dollar currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 247pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.41pt">Includes all impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.76pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 356.68pt">, the weighted-average index rate floor of our floating-rate loans receivable principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 270pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.47pt">balance was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.68pt">. Excluding 0.0% index rate floors and loans with no floor, the weighted-average index rate floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 281.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.04pt">was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.90%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 305pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 327.43pt">Activity relating to our loans receivable portfolio was as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 278.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 278.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.11pt; position: var(--position); white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.33pt; position: var(--position); white-space: pre">Balance<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 48.42pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.91pt; position: var(--position); white-space: pre">Deferred Fees /<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.09pt; position: var(--position); white-space: pre">Other Items<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 52.599999999999994pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.88pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 44.86pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(155,608)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan fundings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">3,931,823<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">3,931,823<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan repayments, sales, and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(5,048,125)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(39,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(5,087,549)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(208,010)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">79,018<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(128,992)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Transfer to real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(358,088)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(358,088)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Transfer to other assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 130.14pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(49,158)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(49,158)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Payment-in-kind interest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">13,448<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">13,448<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized gain (loss) on foreign currency translation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">703,518<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.96pt; position: var(--position); text-decoration: none; white-space: pre">(2,275)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">701,243<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Deferred fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(48,716)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(48,716)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Amortization of fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">45,390<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">45,390<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(121,615)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 186.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 186.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 201.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, net, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.75pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 201.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 550.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 133.33pt">Other items primarily consist of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.64pt">purchase and sale discounts or premiums, exit fees, deferred origination expenses,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.31pt">and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">This amount relates to intangible and other assets recorded in connection with loans that were transferred to REO,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.39pt">net of liabilities recorded upon acquisition, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 8.84pt">if <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.66pt">any, and proceeds from loan repayments that are held in escrow, all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.78pt">which are included within other assets in our consolidated balance sheets. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 482.25pt">The tables below detail the property type and geographic distribution of the properties securing the loans in our portfolio<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"></td></tr><tr style="height: 13.5pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.87pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 13.5pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 13.5pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 13.5pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 35.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 35.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">42<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">5,489,331<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,845,825<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 35.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">29%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 49.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">47<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,432,183<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,289,958<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">25<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 63.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,561,323<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,524,478<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 63.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 78pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,096,519<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,994,080<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 78pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 92.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">769,377<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">676,140<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 92.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 106.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-storage<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 106.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">653,016<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">488,715<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 106.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences / Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">341,730<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">290,881<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 121.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 135.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 135.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">723,440<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">683,661<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 135.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 150pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 150pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 164.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 164.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 178.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 178.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 11.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 204pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 204pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 69.61pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 204pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 225.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 225.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 225.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 225.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 240pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 240pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">45<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,203,737<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">3,727,255<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 240pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">22%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 254.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 254.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,768,431<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,431,400<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 254.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 268.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 268.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,957,019<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,873,533<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 268.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 282.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 282.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">855,704<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">713,354<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 282.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 297pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 297pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">448,599<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">446,752<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 297pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 311.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 311.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">10,233,490<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">9,192,294<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 311.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 339.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,128,895<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,114,230<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 339.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">19<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 354pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,197,444<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,190,045<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 354pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 368.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 368.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,107,136<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,114,282<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 368.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 382.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 382.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">643,117<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">595,013<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 382.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 396.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">505,298<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">504,853<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Canada<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 411pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">448,994<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">284,952<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 425.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 425.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">741,582<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">737,162<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 425.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 439.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 439.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,907<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 439.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 454.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 454.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">7,833,429<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">7,601,444<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 454.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 468.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 468.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 468.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 483pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 483pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 497.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 497.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 61pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 297.83pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.95pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 104pt">Our asset-specific debt is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 636.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.42pt">structurally non-recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 66.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 12.75pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">41<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">7,386,333<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">5,729,418<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 34.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">33%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 49.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">5,091,767<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,934,364<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 64.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,768,374<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,663,349<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 64.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 79.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,030,627<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,000,831<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 79.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 94.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">555,553<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">532,069<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 94.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences/Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 109.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">342,817<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">337,687<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 109.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 124.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">872,047<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">836,585<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 124.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 139.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 139.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 154.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(733,936)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 169.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 9.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 194.25pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 194.25pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 194.25pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 216pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 216pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 216pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 216pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 231pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 231pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">44<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,520,632<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,084,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 231pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">24%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 246pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 246pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,614,582<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,452,961<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 246pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 261pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,865,382<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,746,309<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 261pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 276pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 276pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">997,156<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">820,858<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 276pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 291pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 291pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">432,644<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">432,794<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 291pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 306pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 306pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">12,430,396<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">10,537,164<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 306pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 321pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 336pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 336pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,916,145<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,839,096<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 336pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 351pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,050,276<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,048,329<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 351pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 366pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">920,182<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">923,507<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 366pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 381pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 381pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">785,368<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">744,287<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 381pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 396pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">429,084<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">429,724<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 411pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">455,417<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">451,245<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 426pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 426pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,650<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,951<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 426pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 441pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">30<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">6,617,122<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">6,497,139<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 441pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">38<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 456pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 456pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 471pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 471pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.71pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 486pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 486pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 560pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.22pt">N<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.63pt">et loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">December&#160;31,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 583pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.07pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.27pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.47pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.04pt">$106.7 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.08pt"> of cost-recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 594.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">p<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.59pt">roceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$733.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.94pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$100.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">of junior loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 606pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.51pt">interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.62pt">. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.27pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.55pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">discussion of loan participations sold. Our asset-specific debt and loan participations sold are structurally non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.1pt">recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; text-decoration: none; white-space: pre"><span style="left: 58.5pt; position: var(--position); width: 81.93pt">Loan Risk Ratings <span style="display: inline-block; height: 6.77pt; width: 26.07pt"></span></span><span style="left: 166.5pt; position: var(--position); width: 0pt"><span style="display: inline-block; height: 6.77pt; width: 36pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.43pt">As further described in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.44pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.01pt">, we evaluate our loan portfoli<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 305.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.57pt">o on a quarterly <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.45pt">basis. In conjunction with our quarterly loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 82.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">portfolio review, we assess the risk factors of each loan, and assign a risk rating based on several factors. Factors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">considered in the assessment include, but are not limited to, risk of loss, origination LTV, debt yield, collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 105.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">performance, structure, exit plan, and sponsorship. Loans are rated &#8220;1&#8221; (less risk) through &#8220;5&#8221; (greater risk), which ratings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.42pt">are defined in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table allocates the net book value and net loan exposure balances based on our internal risk ratings ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 163.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 140.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 25.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">408,355<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,173,245<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,007,691<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">80<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre">10,578,120<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre">10,087,715<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 68.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,732,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,619,771<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 82.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 97.87pt; position: var(--position); text-decoration: none; white-space: pre">670,206<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 96.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 111pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 125.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 125.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 6pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 145.5pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 141.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 158.25pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 158.25pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 171pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 82.88pt"></span></span><span style="left: 90.00999999999999pt; position: var(--position)">1,919,280<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">994,056<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 185.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,346,881<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,349,347<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 199.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">65<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">9,246,692<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">8,818,346<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 213.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,707,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,622,877<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 228pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,249,677<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 242.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 256.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 270.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 453.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 290.68pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.3pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.88pt">. Our net loan exposure as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.52pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.86pt"> is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.97pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.34pt">$106.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.73pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 272pt">recovery proceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$733.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.82pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$100.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.82pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.02pt">of junior<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.76pt">loan interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.14pt">. Our asset-specific<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">debt and loan participations sold are structurally non-recourse and term-matched to the corresponding collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 544.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 567.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.7pt">Our loan portfolio had a weighted-average risk rating of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">3.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.92pt">as of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 441.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Current Expected Credit Loss Reserve <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">The CECL reserves required under GAAP reflect our current estimate of potential credit losses related to the loans included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 188.06pt">in our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.58pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.18pt"> for further discussion of our CECL reserves. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.11pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 415.26pt">presents the activity in our loans receivable CECL reserve by investment pool for the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.61pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 216.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 216.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.05pt; position: var(--position); white-space: pre">U.S. Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.08pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.19pt; position: var(--position); text-decoration: none; white-space: pre">Unique<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.64pt; position: var(--position); text-decoration: none; white-space: pre">Impaired<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.52pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable, Net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">80,057<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">26,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">47,087<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">580,651<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">733,936<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">17,604<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">13,796<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">1,477<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">16,552<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">49,429<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(41,824)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(41,824)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">97,661<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">39,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">48,564<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">555,379<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">741,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(6,759)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(1,568)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">4,249<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">48,445<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">44,367<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(45,057)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(45,057)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">90,902<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">38,369<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,813<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">558,767<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">740,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase (decrease) in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">5,134<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">3,302<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.96pt; position: var(--position); text-decoration: none; white-space: pre">(207)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(11,250)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(3,021)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(42,111)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(42,111)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">96,036<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">41,671<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,606<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">505,406<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">695,719<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 202.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2023<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">78,335<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">31,560<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">49,371<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">417,670<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">576,936<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 217.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(3,807)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(770)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(5,918)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">245,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">235,447<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 232.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(61,013)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(61,013)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 247.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">74,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">30,790<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">43,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">602,599<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">751,370<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 262.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(11,997)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(2,639)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">423<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">169,318<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">155,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 277.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(12,537)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(12,537)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 292.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">62,531<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">28,151<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">43,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">759,380<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">893,938<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 307.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.63pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(9,584)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(1,916)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 24.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">4,424<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">141,186<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">134,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 322.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(16,989)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(16,989)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,947<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">26,235<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">48,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">883,577<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.54pt"></span></span><span style="left: 9.17pt; position: var(--position)">1,011,059<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); top: 475pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 112.5pt; position: var(--position)"><span style="display: inline-block; height: 8.32pt; width: 18pt"></span></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 5.32pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.35pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.56pt"> U.S. dollar-denominated loan that is located in Bermuda.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.66pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.39pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.58pt">, we recorded a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.9pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.92pt">$45.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.57pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.93pt">in the CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.38pt">against our loans receivable portfolio, primarily driven by a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.8pt">$53.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.37pt">decrease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.89pt"> in our asset-specific CECL reserves,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 537.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 195.28pt">including charge-offs of our CECL reserves of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 253.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.75pt">$42.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.9pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 314.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.48pt">This was offset by an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.75pt">$8.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.69pt"> in our general<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.03pt">CECL reserves, bringing our total loans receivable CECL reserve to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.06pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.78pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.74pt">.The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.71pt">increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.97pt">in our general CECL reserves was primarily as a result of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.9pt">an increase in the historical loss rate used in reserve calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.73pt">as a result of additional CECL charge-offs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.23pt">The charge-offs primarily related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.77pt"> previously impaired loans secured by a hospitality asset in New York, NY and an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.88pt">office asset in Atlanta, GA, that were resolved and transferred to REO during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.05pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.9pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.02pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.59pt">pursuant to loan modifications that resulted in us consolidating the collateral assets. Refer to Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.89pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 630.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.67pt">information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.54pt">receivable, with a total amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.3pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.09pt">, net of cost-recovery proceeds, and a concentration in the office<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.53pt">sector with <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$382.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.44pt"> of reserves, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 335.62pt">generally driven by reduced tenant and capital markets demand in the office sector<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">in recent years. Impairments are each determined individually as a result of changes in the specific credit quality factors for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">such loans. These factors included, among others, (i) the underlying collateral performance, (ii) discussions with the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 711.04pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">borrower, (iii) borrower events of default, and (iv) other facts that impact the borrower&#8217;s ability to pay the contractual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 722.54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.59pt">amounts due under the terms of the loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.33pt"> This CECL reserve was recorded based on our estimation of the fair value of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 134pt">loan&#8217;s underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.22pt">No<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 70.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 482.74pt"> income was recorded on our impaired loans subsequent to determining that they were impaired. During the three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.88pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.37pt">, we received an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.18pt">$9.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.45pt"> of cash proceeds from such loans that were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.65pt">applied as a reduction to the amortized cost basis of each respective loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 124pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.06pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.09pt">, all borrowers under performing loans were in compliance with the applicable contractual terms<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.56pt">of each respective loan, including any required payment of interest.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.51pt"> Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.85pt"> for further discussion of our policies on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.13pt">revenue recognition and our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Our primary credit quality indicator is our risk ratings, which are further discussed above. The following tables present the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.8pt">net book value of our loan portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.65pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 326.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.76pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.16pt">, respectively, by year of origination,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.5pt">investment pool, and risk rating ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 12.75pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 160.06pt; position: var(--position); text-decoration: none; white-space: pre">As of September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">203,721<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">53,901<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">33,314<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">197,274<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">724,262<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">262,235<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,278,048<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,147,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">273,014<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,630,283<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,883,767<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,837<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">5,626,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,098<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">338,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,115,549<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,820,751<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,180,517<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">333,977<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,346,232<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,149,854<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,123,522<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">9,134,102<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 152.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 166.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">645,481<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">592,528<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">657,188<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,895,197<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 180.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,752,443<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">936,536<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,102,590<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,791,569<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 195pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">363,689<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">363,689<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 209.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 40.13pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,397,924<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">592,528<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,593,724<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,466,279<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">6,050,455<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 237.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 252pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 266.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; 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position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 280.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">869,443<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">291,004<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,160,447<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">547,763<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">547,763<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 323.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">869,443<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">838,767<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,708,210<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; 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position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 380.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; 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height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 394.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 408.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">168,985<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">433,385<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">571,782<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 423pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">168,985<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">433,385<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">571,782<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,174,152<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 437.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 451.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">203,721<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">53,901<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 465.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">678,795<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">789,802<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,381,450<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">262,235<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,173,245<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 480pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,899,646<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">273,014<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,499,726<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,820,303<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,085,431<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 12.37pt; position: var(--position); text-decoration: none; white-space: pre">10,578,120<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 494.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,098<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">338,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,027,001<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,732,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 508.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">168,985<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">433,385<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">571,782<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 522.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,578,441<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">333,977<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,977,188<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,176,963<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,000,350<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 537pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 537pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 551.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 551.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 579.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.39pt; position: var(--position); text-decoration: none; white-space: pre">(168)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(71,853)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(56,971)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(128,992)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 693.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.99pt">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 14.25pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 161.17pt; position: var(--position); text-decoration: none; white-space: pre">As of December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2020<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,674<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">245,289<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">60,240<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,381,858<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,839,061<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,651<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">197,153<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,611,856<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,869,660<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">268,408<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,599,604<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,160,837<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,097<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">392,470<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">5,112,416<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">236,780<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,019,672<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">726,513<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,982,965<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 128.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">329,059<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,185,211<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,037,654<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">751,337<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,500,841<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">10,804,102<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 142.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">80,219<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">80,219<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">500,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">787,660<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">87,629<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">101,828<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,477,221<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">594,740<span style="display: inline-block; 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position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,332,805<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,054,243<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">198,389<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">198,389<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,094,844<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,994,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">87,629<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,633,022<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">4,810,072<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 285pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">814,225<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">265,808<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,080,033<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 299.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">525,750<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">525,750<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 313.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 327.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">814,225<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">791,558<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,605,783<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 342pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 356.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 370.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 384.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 399pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 413.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">170,388<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,030<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">34,214<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,255,929<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 427.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">170,388<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">367,030<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">34,214<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,255,929<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,827,561<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,674<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">325,508<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">60,240<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,381,858<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,919,280<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 470.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,651<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">697,257<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,399,516<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">87,629<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">101,828<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,346,881<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 484.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">268,408<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,008,569<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,287,535<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,097<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,991,083<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">9,246,692<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 498.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">236,780<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,019,672<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,450,652<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,707,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 513pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">170,388<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,030<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">34,214<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,255,929<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 527.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">329,059<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">4,264,668<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">7,399,261<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">873,180<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">6,181,350<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 541.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 541.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 555.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 555.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 584.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(52,045)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(255,005)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(77,553)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(384,603)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.04pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.54pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.08pt; position: var(--position); text-decoration: none; white-space: pre">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Loan Modifications Pursuant to ASC 326<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.12pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.51pt">twelve months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.3pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt">, we entered into <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.4pt"> loan modifications that require disclosure<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.37pt">pursuant to ASC 326. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.89pt">Four<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.23pt"> of these loans were collateralized by office assets and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.9pt"> was collateralized by a mixed-use<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.91pt">asset.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Loans with a risk rating of &#8220;3&#8221; and &#8220;4&#8221; are included in the determination of our general CECL reserve and loans with a risk<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">rating of &#8220;5&#8221; have an asset-specific CECL reserve. Loan modifications that allow the option to pay interest in-kind increase<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">our potential economics and the size of our secured claim, as interest is capitalized and added to the outstanding principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.93pt">balance for applicable loans. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.62pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 252.84pt"> income was recorded on our loans subsequent to determining<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.39pt">that they were impaired and risk rated &#8220;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 221.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.93pt">.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.32pt">Two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 476.6pt"> of the loan modifications included term extensions combined with other-than-insignificant payment delays. The first<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.34pt">loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.66pt">five years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.5pt">, the borrower repaid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 380pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.4pt">$6.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 124pt"> of principal, and the loan was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">bifurcated into a separate senior loan and subordinate loan. We are accruing interest on the senior loan, which is paying<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">interest current, and deferring interest on the subordinate loan that is paying interest in-kind. The second loan modification<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.78pt">had a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.98pt">3.8 years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.21pt">, the loan was bifurcated into a separate senior loan and subordinate loan, and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.47pt">borrower paid a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.75pt">$1.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.52pt"> fee upon closing of the modification.<span style="display: inline-block; height: 6.93pt"></span></span><span style="color: #ee2724; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.4pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.83pt">We are accruing interest on the senior loan, which is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 436.59pt">paying interest current, and deferring interest on the subordinate loan that is paying interest in-kind. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.38pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 233.5pt">, the aggregate amortized cost basis of these loans was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.2pt">$367.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.53pt">, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">2.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.84pt"> of our aggregate loans receivable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.44pt">portfolio, with an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 174.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$4.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 328.88pt"> of unfunded commitments. These loans were in compliance with their modified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.2pt">contractual terms as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.14pt">The other <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.21pt"> loan modifications<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.57pt"> included term extensions combined with other-than-insignificant payment delays and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.64pt">interest rate reductions. The first loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.96pt">4.8 years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.32pt">, the interest rate decreased by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.10%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 469.06pt">, and the loan was bifurcated into a separate senior loan and subordinate loan. The senior loan is paying interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">partially current, and partially in-kind, while the subordinate loan is paying interest in-kind. We are accruing interest on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">portion of the senior loan that is paying current and a portion that is paid in-kind, and deferring interest income recognition<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">on the remaining portion, including the entire subordinate loan. The second loan modification included a term extension of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.03pt">one year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.34pt">, the interest rate on the senior loan decreased by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.43%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.94pt">, the borrower repaid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$25.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.03pt"> upon closing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">modification, and the loan was bifurcated into a separate senior loan and subordinate loan. The senior loan is paying<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 406.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">interest partially current, and partially in-kind, while the subordinate loan is paying interest in-kind. We are accruing all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">the interest on the senior loan that is paying partially current and partially in-kind, and deferring interest on the subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.78pt">loan that is paying interest in-kind. The third loan modification included a term extension of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.22pt">4.3 years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.97pt">, the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.73pt">decreased by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.22999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.56%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 413.39pt">, and the loan was bifurcated into a separate senior loan and subordinate loan. We are accruing all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 452.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">the interest on the senior loan that is paying current, and deferring interest income on the subordinate loan, which is paid-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 464pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.44pt">in-kind. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.1pt">, the aggregate amortized cost basis of these loans was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.56pt">$506.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.25pt">, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">2.8%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 525.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.08pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.3pt">aggregate loans receivable portfolio, with an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">$32.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.97pt"> of unfunded commitments. These loans were in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.36pt">compliance with their modified contractual terms as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.56pt">All <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 145.05pt"> of these loans had a risk rating of &#8220;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 239.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.73pt">&#8221; at the time of modification. In aggregate, these modifications resulted in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.78pt">bifurcation of all <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 128.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.68pt"> loans into separate senior and subordinate loans, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.2pt">ten<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.92pt"> loans in aggregate. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.32pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.9300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.65pt">of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 99.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.72pt"> newly bifurcated senior loans, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.41pt"> loans had a risk rating of &#8220;4,&#8221; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.51pt"> loan had a risk rating of &#8220;3,&#8221; and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.65pt"> loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 545pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.87pt">had a risk rating of &#8220;2.&#8221; The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 251.93pt"> newly bifurcated subordinate loans all had a risk rating of &#8220;5.&#8221;<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.68pt">Multifamily Joint Venture<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 171.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.15pt">As discussed in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.41pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.72pt">, we entered into our Multifamily Joint Venture in April 2017. As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.42pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.21pt">, our Multifamily Joint Venture held<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.75pt"> a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.01pt">$43.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.03pt"> loan, which is included in the loan disclosures<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.66pt">above. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 88.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.04pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.03pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.14pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 297.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 256.31pt">, our Multifamily Joint Venture also held an REO asset with a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.86pt">carrying value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 130.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.22pt">$32.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.17pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.22pt">$32.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 239.55pt">, respectively, which is included in the REO disclosures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.29pt">Note 4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 525.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.55pt">. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 224.53pt"> for further discussion of our Multifamily Joint Venture.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Real Estate Owned, Net<br></strong></div></th>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateOwnedTextBlock', window );">Real Estate Owned, Net</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">REAL ESTATE OWNED, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.72pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.71pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.5pt">, we had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.71pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt">seven<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.89pt"> REO assets, respectively. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.27pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.21pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.64pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.71pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.46pt">we acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.19pt"> REO<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.03pt"> assets through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.82pt">deed-in-lieu of foreclosure transactions or loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 714pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.2pt">modifications that resulted in us consolidating the collateral assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.94pt">, for a total acquisition price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.42pt">$406.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.43pt">. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 725.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.96pt">allocated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 98.46000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.28pt">$221.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.84pt"> to land and land improvements, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.28pt">$137.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.06pt"> to building and building improvements, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$49.2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.85pt">million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.55pt"> to acquired intangible assets, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.38pt">$(1.0) million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 260.09pt"> to other components of the purchase price. In aggregate, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">charged off <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.57pt">$83.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.68pt"> of CECL reserves relating to the loans that had previously been secured by these assets, as the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.99pt">loans&#8217; aggregate carrying value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.85pt">$490.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 262.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 291.04pt"> at the time of the REO acquisitions exceeded the acquisition date fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.61pt">value noted above. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.08pt"> for further discussion of RE<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 294.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.52pt">O assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.13pt">The acquisition of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.98pt"> REO assets during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.45pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.48pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.18pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.69pt"> were accounted for as asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 414.53pt">acquisitions under ASC 805, and we recognized these properties as REO assets held for investment. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.45pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.79pt">presents the REO assets that were acquired during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.1pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 47.52pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.65pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.28pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date Fair Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">February 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Chicago, IL<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 12.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">45,045<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Atlanta, GA<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 27.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">132,974<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York, NY<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 42.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">228,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 57.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">406,272<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 242.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 479.15pt">The following table presents the REO assets and liabilities included in our consolidated balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 259.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 334.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Building and building improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">555,879<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">410,546<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Land and land improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">402,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">181,083<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">958,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">591,629<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated depreciation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.96pt; position: var(--position); text-decoration: none; white-space: pre">(24,492)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.96pt; position: var(--position); text-decoration: none; white-space: pre">(3,444)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">933,635<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">588,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">130,099<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">83,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.21pt"></span></span><span style="left: 43.84pt; position: var(--position)">(33,427)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.21pt"></span></span><span style="left: 48.84pt; position: var(--position)">(5,964)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 146.81pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">96,672<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">77,289<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 192pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">4,545<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">1,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 207pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.71pt"></span></span><span style="left: 56.34pt; position: var(--position)">(317)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 63.71pt"></span></span><span style="left: 66.34pt; position: var(--position)">(1)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 222pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate liabilities, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 160.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">4,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">1,421<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.99pt">Included within other assets on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.83pt">Included within other liabilities on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.46pt">Revenue and expenses from real estate owned consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 225pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.92pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Rental income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,263<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,037<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">45,803<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,037<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other operating income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">18,470<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">63,775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">33,733<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">109,578<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">28,061<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">89,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,432<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 101.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Depreciation and amortization expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,039<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,030<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">47,960<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 116.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">43,100<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,684<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">137,198<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,647<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Net loss from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(9,367)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(1,470)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(27,620)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(2,433)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table presents the undiscounted future minimum rents we expect to receive for our office properties as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.5pt">. Leases at our multifamily assets are short term, generally 12 months or less, and are therefore not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.4pt">included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.91pt"> ($ in thousands)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 363.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 0pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25pt; position: var(--position); text-decoration: none; white-space: pre">Future Minimum Rents<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 92.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">17,836<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 27.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">61,740<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 42.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">50,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 57.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">41,736<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 72.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">34,329<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 87.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">72,948<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 102.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 87.04pt"></span></span><span style="left: 94.67pt; position: var(--position)">278,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 235.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 486.05pt">The following table presents the amortization of lease intangibles for each of the succeeding fiscal years ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 158.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.27pt; position: var(--position); text-decoration: none; white-space: pre">In-place lease intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">Above-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.71pt; position: var(--position); text-decoration: none; white-space: pre">Below-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">9,561<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,427<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 80.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(292)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">26,096<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">4,121<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 77.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(1,140)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">3,077<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(995)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,225<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(872)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">7,765<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,708<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(498)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,748<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(431)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">81,086<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,586<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 72.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(4,228)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br></p></div>
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Entities<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock', window );">Investments in Unconsolidated Entities</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">INVESTMENTS IN UNCONSOLIDATED ENTITIES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.78pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.51pt">, we hold certain investments in unconsolidated entities that are accounted for under the equity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">method of accounting or the FVO, as our ownership interest in each entity does not meet the requirements for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.78pt">consolidation. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.91pt"> for further details.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.67pt">The following tables detail our investments in unconsolidated entities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 64.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre">75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre">571<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 33.51pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 93.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 108.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">571<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 108.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 123.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">686<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 123.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 633.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 641.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.08pt">The number of assets represents the number of real estate properties held.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.7pt">The number of assets represents the number of commercial mortgage loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 664.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 220.94pt">Represents our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.52pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.5pt">, which owns an initial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">portfolio of commercial mortgage loans acquired during the three months ended June 30, 2025, in which we hold a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 687.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">29%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 312.96pt"> interest, and an additional portfolio acquired during the three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.43pt">, in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.2pt">hold a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.39pt"> interest.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 65.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre">75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 51.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 78.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 78.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.79pt">The following tables detail the activity related to our investments in unconsolidated entities during the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 61.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 0pt; width: 61.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.66pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.2pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.33pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.62pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.81pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">52,181<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">26,281<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 39.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.46pt"></span></span><span style="left: 39.09pt; position: var(--position)">(367)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(364)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">55,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">44,670<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 54.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.29pt"></span></span><span style="left: 34.92pt; position: var(--position)">4,291<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">108,087<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">70,951<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 69.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.29pt"></span></span><span style="left: 34.92pt; position: var(--position)">3,924<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(364)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 62.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.19pt; position: var(--position); text-decoration: none; white-space: pre">December <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.5pt; position: var(--position); text-decoration: none; white-space: pre">31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 0pt; width: 62.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.03pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.58pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.7pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 41.19pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">76,391<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 39.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.71pt"></span></span><span style="left: 32.34pt; position: var(--position)">(1,559)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(1,553)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">102,273<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 54.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">2,594<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">178,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 69.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">1,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(1,553)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 391.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 399.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Includes our share of non-cash items such as (i) depreciation and amortization, and (ii) unrealized gains recorded by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.32pt">unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 434.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.83pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.78pt"> income or loss from unconsolidated entities for the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 457.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.32pt">During<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 86.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.9pt"> the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.53pt">, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.36pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.16pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">each entered into derivative agreements where we would be required to make payment for periodic or final settlement of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 480.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.59pt">derivative contracts if either our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.98pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.11pt"> or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.32pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.86pt">, as applicable, is unable to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.05pt">fulfill its respective obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef<br> -Topic 740<br> -SubTopic 323<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Topic 323<br> -Publisher FASB<br> -URI https://asc.fasb.org/323/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Assets and Liabilities<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract', window );"><strong>Other Assets And Liabilities Disclosure [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherAssetsAndLiabilitiesDisclosureTextBlock', window );">Other Assets and Liabilities</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">OTHER ASSETS AND LIABILITIES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Other Assets <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.01pt">The following table details the components of our other assets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan portfolio payments held by servicer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 167.73pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">429,747<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">113,199<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">138,130<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">160,131<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Accounts receivable and other assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 149.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">114,172<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">134,030<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate intangible assets, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">96,672<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">77,289<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">35,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">9,338<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Prepaid expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.04pt"></span></span><span style="left: 59.67pt; position: var(--position)">126<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">1,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral deposited under derivative agreements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 62.04pt"></span></span><span style="left: 64.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">4,810<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">834,219<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">572,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 259.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 267.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">Primarily represents loan principal repayments held by our third-party loan servicers as of the balance sheet date that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 237.74pt">were remitted to us during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 290.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.95pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.45pt">$105.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.45pt">$95.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.95pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.63pt">, respectively, of cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">collateral held by our CLOs that was subsequently remitted by the trustee to repay a portion of the outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 313.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 437.84pt">senior CLO securities, or that was subsequently reinvested by purchasing additional collateral into our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 348.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.74pt">Other Liabilities<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 129.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.85pt">The following table details the components of our other liabilities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Debt repayments pending servicer remittance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 184.04pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">335,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">3,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">114,413<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">72,018<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued dividends payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">80,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">81,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">64,911<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">77,855<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued management fees payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">16,849<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">18,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Current expected credit loss reserves for unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 280.64pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">13,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">10,412<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accounts payable and other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">11,230<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">13,834<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">639,372<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">282,847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 543.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents pending transfers from our third-party loan servicer that were remitted to our banking counterparties or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.89pt">CLO trustees during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 322.19pt">Represents the CECL reserve related to our unfunded loan commitments. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.81pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.97pt"> for further discussion of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.25pt">CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 617.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Current Expected Credit Loss Reserves for Unfunded Loan Commitments <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.52pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.64pt">, we had aggregate unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.12pt">$1.5&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.55pt"> related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">57<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.76pt"> loans receivable. The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">expected credit losses over the contractual period of our loans are impacted by our obligations to extend further credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 188.86pt">through our unfunded loan commitments. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.45pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.62pt"> for further discussion of the CECL reserves related to our unfunded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.01pt">loan commitments, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.59pt">Note 22<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 251.51pt"> for further discussion of our unfunded loan commitments. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 444.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.86pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.93pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.57pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.02pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.6pt">increases<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.21pt"> in the CECL reserves related to our unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.32pt">of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 72.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.34pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 151.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.34pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.05pt"> respectively, bringing our total unfunded loan commitments CECL reserve to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.77pt">$13.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.27000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.91pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.06pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.14pt">. D<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.14pt">uring the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.43pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.55pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.06pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.94pt">, we recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.26pt">decreases<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 96.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.98pt"> in the CECL reserves related to our unfunded loan commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.42pt">$1.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.57pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.42pt">$7.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.32pt">, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 258.9pt">bringing our total unfunded loan commitments CECL reserve to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 317.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt">$8.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.15pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Secured Debt, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Securitized Debt Obligations, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Asset-Specific Debt, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loan Participations Sold, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAbstract', window );"><strong>Loan Participations Sold [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldDisclosureTextBlock', window );">Loans Participations Sold, Net</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">LOAN PARTICIPATIONS SOLD, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The sale of a non-recourse interest in a loan through a participation agreement generally does not qualify for sale<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">accounting under GAAP. For such transactions, we therefore present the whole loan as an asset and the loan participation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">sold as a liability on our consolidated balance sheet until the loan is repaid. We generally have no obligation to pay<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">principal and interest under these liabilities, and the gross presentation of loan participations sold does not impact our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.24pt">stockholders&#8217; equity or net income.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">We did not have any loan participations sold as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261.06pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.28pt; position: var(--position); text-decoration: none; white-space: pre">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.28pt; position: var(--position); text-decoration: none; white-space: pre">The following table details our loan participations <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">sold as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 99.31pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.85pt; position: var(--position); text-decoration: none; white-space: pre"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 164pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loan Participations Sold<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.12pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.55pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 43.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Junior Participations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Loan Participation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 94.06pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 9.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">442,142<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">442,008<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 6.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 64.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 248.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">The weighted-average all-in yield and cost are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">SOFR and SONIA, as applicable. This non-debt participation sold structure is inherently matched in terms of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">currency and interest rate. In addition to cash coupon, yield/cost includes the amortization of deferred fees and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 302.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.71pt">financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">The term is determined based on the maximum maturity of the loan, assuming all extension options are exercised by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 325.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.71pt">the borrower. Our loan participations sold are inherently non-recourse and term-matched to the corresponding loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.6pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.67pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.91pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.72pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$1.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.51pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$6.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 348.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 338.19pt">respectively, of interest expense related to our loan participations sold. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.22pt">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.88pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">we recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$22.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.88pt"> of interest expense related to our loan participations sold<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loans, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Senior Secured Notes, Net<br></strong></div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Convertible Notes, Net<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURED DEBT, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.97pt">Our secured debt represents borrowings under our secured credit facilities. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.55pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.58pt">, we c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">losed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.31pt"> of new borrowings against <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">$2.9&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.26pt">of collateral assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 237.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.61pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 267pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Secured Credit Facilities<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 284.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.79pt">Our secured credit facilities are bilateral agreements we use to f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.24pt">inance diversified pools of senior loan collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 531.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.88pt"> with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sufficient flexibility to accommodate our investment and asset management strategy. The facilities are uniformly structured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 307.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">to provide currency, index, and term-matched financing without capital markets based mark-to-market provisions. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.42pt">credit facilities are diversified across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.55pt"> counterparties, primarily consisting of top global financial institutions to minimize<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 330.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.89pt">our counterparty risk exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The availability of funding under our secured credit facilities is based on the amount of approved collateral, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">collateral is proposed by us in our discretion and approved by the respective counterparty in its discretion, resulting in a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">mutually agreed collateral portfolio construction. Certain structural elements of our secured credit facilities, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">limitation on recourse to us and facility economics, are influenced by the specific collateral portfolio construction of each<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.23pt">facility, and therefore vary within and among the facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Our secured credit facilities generally permit us to increase or decrease the amount advanced against the pledged collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.44pt">in our discretion within certain maximum/minimum amounts and frequency limitations. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.76pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.73pt">, there<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.29pt">was an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$844.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.31pt"> available to be drawn at our discretion under our credit facilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 562.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Financial Covenants <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.82pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.6pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.49pt">, we are subject to the following financial covenants related to our secured debt and secured debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">of our unconsolidated entities: (i) our ratio of earnings before interest, taxes, depreciation, and amortization, or EBITDA, to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.81pt">fixed charges, as defined in the agreements, shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.66pt"> to 1.0; (ii) our tangible net worth, as defined in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.3pt">agreements, shall not be less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$3.6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 173pt"> billion as of each measurement date plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.13pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.4pt"> of the net cash proceeds of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 152.74pt">future equity issuances subsequent to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.89pt">; (iii) cash liquidity shall not be less than the greater of (x) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$10.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 637.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.39pt">million or (y) no more than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 304.67pt"> of our recourse indebtedness; and (iv) our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 493.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 524.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.6pt"> of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 648.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.98pt">total assets. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.48000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.59pt">, we were in compliance with these covenants.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.54pt">During 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.3pt">, the financial covenant under each applicable secured debt agreement related to the ratio of our EBITDA to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.54pt">fixed charges, as noted above, was amended so that the ratio shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 398.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.25<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.86pt"> to 1.0 with respect to each of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.39pt">four fiscal quarters beginning with the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.37pt">quarter ended September 30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.67pt">, and shall be not less than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.3<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.52pt"> to 1.0 thereafter.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">SECURITIZED DEBT OBLIGATIONS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We have financed certain pools of our loans through CLOs. The CLOs are consolidated in our financial statements and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 314.93pt">have issued securitized debt obligations that are non-recourse to us. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.57pt">Note 20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.42pt"> for further discussion of our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 68.5pt; position: var(--position); text-decoration: none; white-space: pre">ASSET-SPECIFIC DEBT, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 445pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">TERM LOANS, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.5pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.78pt">, we borrowed an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 382.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.48pt"> under the B-6 Term Loan and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.91pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.02pt"> under the B-7 Term Loan. The B-6 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.06pt"> and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 512.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.04pt">December<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 429.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2030<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.21pt">. The proceeds from the B-6 Term Loan were used to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$400.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.51pt"> of the outstanding B-4 Term Loan and all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.31pt">$648.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.8pt"> in principal outstanding under the B-5 Term Loan. The B-7 Term Loan bears interest at SOFR plus <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">2.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">and matures in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.88pt">May 2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 380.54pt">. The proceeds from the B-7 Term Loan were used, among other things, to repay all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$403.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.51pt"> in principal outstanding under the B-4 Term Loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.77pt">The Term Loans are partially a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.46pt">mortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.91pt"> per annum of the aggregate initial principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.97pt">balance due in quarterly installments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 210.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.55pt">. There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 263.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.49pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.99000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.2pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.62pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.89pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 468.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.45pt">, we repurchased an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.82pt">aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.15pt">$2.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 231.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.4pt"> of the B-1 Term Loan at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 450.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">99%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.17pt"> of par. This resulted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.86pt">in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$25,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.8pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.54pt">The Term Loans contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.46pt"> of our total assets. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.68pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.89pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 82pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 247.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.36pt">, we were in compliance with this covenant. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.65pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.6pt">discussion of our accounting policies for the Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SENIOR SECURED NOTES, NET<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 304.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.31pt">There was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.24pt"> repurchase activity or gain on debt extinguishment during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.97pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.24pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 670.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.24000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.81pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.12pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.44pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.74pt">, we repurchased an aggregate principal amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.91pt">$4.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.55pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.91pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">, respectively, of the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 264.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.74pt">October 2021<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.54pt"> Senior Secured Notes at a weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.1700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">92%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 693.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.78pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">88%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.74pt"> of par, respectively. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.74pt">This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$330,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 458.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.7pt">$3.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt"> during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 115.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.29pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 387.74pt">The Senior Secured Notes contain the financial covenant that our indebtedness shall not exceed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">83.33%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.28pt"> of our total assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.44pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 289.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 264.25pt">, we were in compliance with this covenant. Under certain<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">circumstances, we may, at our option, release all of the collateral securing our Senior Secured Notes, in which case we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 431.7pt">would also be required to maintain a total unencumbered assets to total unsecured indebtedness ratio of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">1.20<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 507.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.63pt"> or greater.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.37pt">This covenant is not currently in effect as the collateral securing our Senior Secured Notes has not been released.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">CONVERTIBLE NOTES, NET <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 364.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Other than as provided by the optional redemption provisions with respect to our Convertible Notes, we may not redeem<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the Convertible Notes prior to maturity. The Convertible Notes are convertible at the holders&#8217; option into shares of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 387.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock, only under specific circumstances, prior to the close of business on December 14, 2026 at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">applicable conversion rate in effect on the conversion date. Thereafter, the Convertible Notes are convertible at the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 410.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">of the holder at any time until the second scheduled trading day immediately preceding the maturity date. The last reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 421.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.68pt">sale price of our class A common stock of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.41<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.56pt"> on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 362.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.22pt">, the last trading day in the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.18pt">, was less than the per share conversion price of the Convertible Note<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.39pt">s.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.54pt">There was no repurchase activity during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.69pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 321.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.6pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.82pt">. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 520.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.03pt"> months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 468.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.05pt">ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.99pt">, we repurchased an aggregate principal amount of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.54pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.77pt"> of the Convertible Notes at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.01pt">weighted-average price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">93%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.95pt"> of par. This resulted in a gain on extinguishment of debt of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.59pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.02pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 533.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 491.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.13pt">and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 514.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.88pt">Accrued interest payable for the Convertible Notes was <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$649,000<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 338.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 28pt"> and <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.19pt">$4.3&#160;million<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.17pt"> as of <span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.9pt">September&#160;30, 2025<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.27pt"> and<span style="display: inline-block; height: 8.32pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 640.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.26pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.61pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.03pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.28pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.66pt"> for further discussion of our accounting policies for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.81pt">Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentsAbstract">
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<td style="white-space:nowrap;">us-gaap_DebtInstrumentsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/470/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract', window );"><strong>Derivative Instruments and Hedging Activities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock', window );">Derivative Financial Instruments</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">DERIVATIVE FINANCIAL INSTRUMENTS <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 698.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The objective of our use of derivative financial instruments is to minimize the risks and/or costs associated with our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 710.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">investments and/or financing transactions. These derivatives may or may not qualify as net investment, cash flow, or fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 721.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">value hedges under the hedge accounting requirements of ASC 815 &#8211; &#8220;Derivatives and Hedging.&#8221; Derivatives not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">designated as hedges are not speculative and are used to manage our exposure to interest rate movements and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.6pt">identified risks. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 332.46pt"> for further discussion of the accounting for designated and non-designated hedges.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The use of derivative financial instruments involves certain risks, including the risk that the counterparties to these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">contractual arrangements do not perform as agreed. To mitigate this risk, we only enter into derivative financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">instruments with counterparties that have appropriate credit ratings and are major financial institutions with which we and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 207.21pt">our affiliates also have other financial relationships.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Net Investment Hedges of Foreign Currency Risk<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Certain of our international investments expose us to fluctuations in foreign interest rates and currency exchange rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">These fluctuations may impact the value of our cash receipts and payments in terms of our functional currency, the U.S.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">dollar. We use foreign currency forward contracts to protect the value or fix the amount of certain investments or cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.28pt">flows in terms of the U.S. dollar.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges of Foreign Currency Risk <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 252pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">The following table details our outstanding foreign exchange derivatives that were designated as net investment hedges of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.58pt">foreign currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 288.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 89.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">970,798<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">971,180<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">700,195<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">604,739<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">657,309<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">603,910<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">383,504<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">355,703<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CAD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">C$<span style="display: inline-block; height: 6.93pt; width: 7.63pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">120,877<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 9.85pt"></span></span><span style="left: 31.919999999999998pt; position: var(--position)">6,752<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 108.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 22.35pt"></span></span><span style="left: 44.42pt; position: var(--position)">52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 429.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges of Foreign Currency Risk<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 446.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details our outstanding foreign exchange derivatives that were non-designated hedges of foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 186.22pt">currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 469.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 483.35pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 493.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 132pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 244.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 244.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 88.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 0pt; width: 246pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 132pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.97pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.55pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 12.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.47pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.14pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">109,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 33.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 33.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)">54,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">109,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 48.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 48.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)">54,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy EUR / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">35,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">35,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy CHF / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">6,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">6,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 628.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Fair Value Hedges of Interest Rate Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 228.9pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.1pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Certain of our corporate financings expose us to fluctuations in the fair value of our outstanding fixed rate debt. We use<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">derivative financial instruments, which include interest rate swaps, to hedge interest rate risk associated with changes in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.1pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.79pt">fair value of our fixed rate debt. The changes in the value of the interest rate swap is recognized in earnings and offset the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.6pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 205.05pt">corresponding changes in the fair value of the debt.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges of Interest Rate Risk&#160; <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">The following tables detail our outstanding interest rate derivatives that were designated as fair value hedges of interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.88pt">risk (notional amount in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre">3.81%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre">4.2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 184.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre">3.81%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre">4.9<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">The following tables detail the carrying amount and cumulative basis adjustments on hedged items designated as fair value<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.43pt">hedges ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 297pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)">451,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 134.54pt"></span></span><span style="left: 142.17pt; position: var(--position)">7,834<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 366.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)">437,759<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 131.21pt"></span></span><span style="left: 138.84pt; position: var(--position)">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 356.11pt">Financial Statement Impact of Hedges of Foreign Currency and Interest Rate Risks<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.42pt">The following table presents th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 369.57pt">e effect of our derivative financial instruments on our consolidated statements of operations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 471pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.18pt">($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 122.25pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 111pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 0pt; width: 264.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 264.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.39pt; position: var(--position); text-decoration: none; white-space: pre">Increase (Decrease) to Net Interest Income Recognized from Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 12.75pt; width: 130.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 130.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 25.5pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.41pt; position: var(--position); text-decoration: none; white-space: pre">Location of Income<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.09pt; position: var(--position); text-decoration: none; white-space: pre"> (Expense) Recognized<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 47.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">6,174<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">4,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">13,820<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">13,309<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 62.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.71pt"></span></span><span style="left: 41.34pt; position: var(--position)">(674)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)">399<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(1,884)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">1,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 77.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(46)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(22)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(96)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(32)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 92.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(14)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(2,129)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.71pt"></span></span><span style="left: 51.34pt; position: var(--position)">(7)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 107.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">5,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">4,805<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">9,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">14,514<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 609.32pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Represents the forward points earned on our foreign currency forward contracts, which reflect the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 632.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">differentials between the applicable base rate for our foreign currency investments and prevailing U.S. interest rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.21pt">These forward contracts effectively convert the foreign currency rate exposure for such investments to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 655.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.67pt">USD-equivalent interest rates.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Represents the financial statement impact of proceeds (payments) from periodic settlements related to our interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 678.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.5pt">rate swap.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 689.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.35pt">Represents the realized loss on an interest rate swap related to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.96pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.61pt"> that was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 701.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.64pt">entered into and subsequently terminated during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.65pt"> three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.52pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.17pt">, and the spot rate movement<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 712.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.37pt">in our non-designated foreign currency hedges, which are marked to market and recognized in interest expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.03pt">Fair Value Hedges<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.68pt">The following table presents the net gains <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.91pt">(losses) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.36pt">on derivatives and the related hedged items in fair value hedging<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.88pt">relationships fo<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.53pt">r the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.83pt"> (<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.85pt">$ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 490.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 320.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.71pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest and related expenses presented in the consolidated statements of <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">operations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 21pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">247,055<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 21pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">754,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Gains (losses) on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Total gain on derivative instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 62.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)">486<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 62.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">12,774<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Fair value basis adjustment on hedged items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 77.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 61.96pt; position: var(--position); text-decoration: none; white-space: pre">(494)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 77.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,834)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Derivative settlements and accruals<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 92.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.62pt; position: var(--position); text-decoration: none; white-space: pre">674<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 92.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.87pt; position: var(--position); text-decoration: none; white-space: pre">2,116<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); white-space: pre">Net gain on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 194.99pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 107.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)">666<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 107.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 54.42pt; position: var(--position)">7,056<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 249.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.96pt">Included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.46000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.92pt"> within interest and related expenses presented in the consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 272.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.37pt">There were no fair value hedges outstanding during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 281.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.28pt">Valuation and Other Comprehensive Income<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.51pt">The following table summarizes the fair value of our derivative financial instruments ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 336.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 222pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 222pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.14pt; position: var(--position); white-space: pre">Fair Value of Derivatives in an Asset<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 40.07pt; position: var(--position); white-space: pre"> Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 69.6pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 75.66pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.46pt; position: var(--position); white-space: pre">Fair Value of Derivatives in a <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.41pt; position: var(--position); white-space: pre">Liability Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 84.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">9,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">69,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,296<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">7,885<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">4,386<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">17,752<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">69,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,296<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">4,386<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives not designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,021<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">261<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">852<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives not designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,021<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">261<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">852<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 542pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.55pt">Included in other assets in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.39pt">Included in other liabilities in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table presents the effect of our derivative financial instruments on our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.11pt">comprehensive income and operations ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 281.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 114.75pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 126.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 93pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 60.75pt"></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 126.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.3pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.19pt; position: var(--position); white-space: pre">Amount of Gain (Loss) Recognized in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.49pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.16pt; position: var(--position); white-space: pre">OCI on Derivatives<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 104.33pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 0pt; width: 93pt"><div><div style="line-height: 8pt; position: var(--position); top: 35.8pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.19pt; position: var(--position); text-decoration: none; white-space: pre">Location of Gain (Loss) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 44.99pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.3pt; position: var(--position); text-decoration: none; white-space: pre">Reclassified<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.87pt; position: var(--position); text-decoration: none; white-space: pre">from Accumulated OCI <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.18pt; position: var(--position); text-decoration: none; white-space: pre">into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 0pt; width: 120.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre">Amount of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.86pt; position: var(--position); text-decoration: none; white-space: pre">Gain (Loss) Reclassified from<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.87pt; position: var(--position); text-decoration: none; white-space: pre"> Accumulated OCI into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 32.25pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.81pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.02pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 32.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.53pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.52pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 32.25pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.94pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.15pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.25pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 32.25pt; width: 60.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.27pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Net Investment Hedges<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 72pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 116.9pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 86.25pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">25,174<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(178,488)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 86.25pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 30.69pt; position: var(--position); text-decoration: none; white-space: pre">Interest Expense<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 86.25pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 86.25pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 100.5pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">25,174<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(178,488)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 100.5pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 100.5pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 100.5pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 195.86pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.01pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.38pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.91pt">, we <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.1pt"> net cash settlements of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.73pt">$68.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.33pt"> on our foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 217.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.06pt">currency forward contracts. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 250.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.25pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.88pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 415.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.91pt">, we <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.72pt"> net cash settlements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.94pt">$102.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.87pt"> on our foreign currency forward contracts.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.07pt"> Those amounts are included as a component of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 312.09pt">accumulated other comprehensive income on our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.95pt">There were no cash flow hedges outstanding during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 293.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 177.35pt">Credit&#8211;Risk Related Contingent Features<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 235.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">We have entered into agreements with certain of our derivative counterparties that contain provisions where if we were to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 322.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 333.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">lender, we may also be declared in default on our derivative obligations. In addition, certain of our agreements with our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.29pt">derivative counterparties require that we post collateral to secure net liability positions. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.6pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.72pt">, we were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.05pt">in a net <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.41pt">asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.53pt"> position with one of our counterparties and in a net liability position with our other counterparty related to our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 368.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.54pt">foreign exchange hedges and had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 206.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 195.79pt"> collateral posted with our counterparties. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.28pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.31pt">, we were in a net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 345.83pt">asset position with our counterparties related to our foreign exchange hedges and had <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.05pt">$4.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.11pt"> of collateral posted with<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.07pt">one counterparty related to our interest rate swap.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 185<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-185<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 184<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-184<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards 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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Equity</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">EQUITY<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 112.92pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 438.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Stock and Stock Equivalents <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 455.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Authorized Capital <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 473.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.3pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.08pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.24pt"> we had the authority to issue up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt">500,000,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 129.32pt"> shares of stock, consisting of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt">400,000,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 484.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.32pt">shares of class A common stock and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 50pt">100,000,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 278.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.63pt"> shares of preferred stock. Subject to applicable NYSE listing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 496.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">requirements, our board of directors is authorized to cause us to issue additional shares of authorized stock without<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">stockholder approval. In addition, to the extent not issued, currently authorized stock may be reclassified between class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 519.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.82pt">common stock and preferred stock. As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.91pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.02pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.14pt">, we did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 463.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.55pt"> have any shares of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 156.24pt">preferred stock issued and outstanding.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 214.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 560.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Share Repurchase Program<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.3pt">In July 2024, our board of directors authorized the repurchase of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.02pt">$150.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.52pt"> of our class A common stock. Under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 589.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">the repurchase program, repurchases may be made from time to time in open market transactions, in privately negotiated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">transactions, in agreements and arrangements structured in a manner consistent with Rules 10b-18 and 10b5-1 under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 612.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Exchange Act or otherwise. The timing and the actual amounts repurchased will depend on a variety of factors, including<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">legal requirements, price and economic and market conditions. The repurchase program may be changed, suspended or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.42pt">discontinued at any time and does not have a specified expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.26pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.23pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.37pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.53pt">, we repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">2,653,583<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.58pt"> shares of class A common stock at a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.18pt">weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$17.97<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.61pt">, for a total cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.78999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$47.7 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.95pt"> During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.11pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.03pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.62pt"> we repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">628,884<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 179.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 301.35pt"> shares of class A common stock at a weighted-average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 480.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$17.49<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.03pt">, for a total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.82pt">cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.55pt">$11.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.54pt">. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 296.38pt">, the amount remaining available for repurchases under the program was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.75pt">$73.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.9pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 119.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.1pt">In October 2025, we repurchased an additional <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">3,336,416<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.17pt"> shares of class A common stock at a weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 118.43pt">average price per share of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$18.38<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 204.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.05pt">, for a total cost of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.4pt">$61.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.5pt">, such that the amount remaining available for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.07pt">repurchases under the program was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.06pt">$11.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.79pt">. Following these repurchases, our board of directors amended the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 134.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 369.55pt">program, such that, as of the date of this filing, we are authorized to repurchase up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.48pt">$150.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.81pt"> of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 189.26pt">common stock under the program, as amended.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.88pt">Class A Common Stock and Deferred Stock Units<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 256.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Holders of shares of our class A common stock are entitled to vote on all matters submitted to a vote of stockholders and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">are entitled to receive dividends authorized by our board of directors and declared by us, in all cases subject to the rights of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.61pt">the holders of shares of outstanding preferred stock, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.77pt">We also issue restricted class A common stock under our stock-based incentive plans. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.06pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.13pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">discussion of these long-term incentive plans. In addition to our class A common stock, we also issue deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">to certain members of our board of directors for services rendered. These deferred stock units are non-voting, but carry the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">right to receive dividends in the form of additional deferred stock units in an amount equivalent to the cash dividends paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">to holders of shares of class A common stock. Each vested deferred stock unit is settled by delivery of one share of class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.96pt">common stock upon the non-employee director&#8217;s separation from service.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 353.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The following table details the movement in our outstanding shares of class A common stock, including restricted class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 159.56pt">common stock and deferred stock units:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 343.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 348pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Common Stock Outstanding<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 99.88pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Beginning balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,204,190<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,569,397<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 140.54999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">1,778<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">4,647<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 58.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Repurchase of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(2,653,583)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(628,884)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 73.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of restricted class A common stock, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 197.4pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">467,180<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">401,901<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 88.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Issuance of deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">32,165<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">42,338<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 103.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Ending balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,051,730<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,389,399<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 467pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.04pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">331,611<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.81pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">401,802<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.63pt"> deferred stock units held by members of our board of directors as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.41pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.66pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.23pt">shares issued under our dividend reinvestment program during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.83pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.24pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.74000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">29,140<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.21pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">41,282<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 354.41pt"> shares of restricted class A common stock issued to our board of directors during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.25pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.67pt">Net of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">43,832<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.39pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.96pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">102,484<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.93pt"> shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.98pt"> of restricted class A common stock forfeited under our stock-based incentive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.89pt">plans during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 587pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Dividend Reinvestment and Direct Stock Purchase Plan <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 604.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.5pt">We have adopted a dividend reinvestment and direct stock purchase plan under which an aggregate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt">10,000,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.48pt"> shares of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">class A common stock are available for sale. Under the dividend reinvestment component of the plan, our class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">stockholders can designate all or a portion of their cash dividends to be reinvested in additional shares of class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">stock. Such shares may, at our option, be newly issued shares from us, shares purchased by the plan administrator on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">open market, or a combination thereof. The direct stock purchase component of the plan allows stockholders and new<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 662pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 445.04pt">investors, subject to our approval, to purchase shares of class A common stock directly from us. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 503.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.88pt">nine months<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 82.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.54pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.75pt">, we issued <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 211.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">1,778<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.74pt"> shares of class A common stock and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 15pt">652<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.18pt"> shares of class A common stock were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 685pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">purchased on the open market by the plan administrator under the dividend reinvestment component of the plan. During the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.78pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.78pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.47pt">, we issued <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">4,647<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.31pt"> shares of class A common stock under the dividend reinvestment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.09pt">component of the plan. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.68pt">, a total of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.83000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">9,966,682<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.54pt"> shares of class A common stock remained available<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 719.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 254.98pt">under the dividend reinvestment and direct stock purchase plan.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">At the Market Stock Offering Program <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.66pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.19pt">, we are party to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.75pt">seven<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.93pt"> equity distribution agreements, or ATM Agreements, pursuant to which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 271.71pt">we may sell, from time to time, up to an aggregate sales price of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.75pt">$699.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 163.46pt"> of our class A common stock. Sales of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">class A common stock made pursuant to our ATM Agreements may be made in negotiated transactions or transactions that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">are deemed to be &#8220;at the market&#8221; offerings as defined in Rule 415 under the Securities Act of 1933, as amended. Actual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sales depend on a variety of factors including market conditions, the trading price of our class A common stock, our capital<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 368.54pt">needs, and our determination of the appropriate sources of funding to meet such needs. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 427.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.22pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.11pt"> or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 84pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.09pt">, we did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.76pt">t issue any shares of our class A common stock under ATM<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.55pt">Agreements. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.67pt">, shares of our class A common stock with an aggregate sales price of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 163.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.85pt">$480.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.71pt"> remained available for issuance and sale under our ATM Agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; text-decoration: none; white-space: pre"><span style="left: 58.5pt; position: var(--position); width: 45.26pt">Dividends <span style="display: inline-block; height: 6.77pt; width: 26.74pt"></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">We generally intend to distribute substantially all of our taxable income, which does not necessarily equal net income as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">calculated in accordance with GAAP, to our stockholders each year to comply with the REIT provisions of the Internal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Revenue Code of 1986, as amended, or the Internal Revenue Code. Our dividend policy remains subject to revision at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">discretion of our board of directors. All distributions will be made at the discretion of our board of directors and will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">depend upon our taxable income, our financial condition, our maintenance of REIT status, applicable law, and other factors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.87pt">as our board of directors deems relevant.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.8pt">On <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.8pt">September 15,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.58pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.18pt">, we declared a dividend of $<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">0.47<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.99pt"> per share, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 342.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$80.2 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.86pt"> in aggregate, that was paid on <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 521.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">October<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35pt">15, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 126.28pt"> to stockholders of record as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.59pt">The following ta<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.21pt">ble details our dividend activity ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 349.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared per share of common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)">1.41<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)">1.71<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Class A common stock dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">80,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">81,306<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">241,531<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">296,624<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred stock unit dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">143<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">241<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">483<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">694<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Total dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">80,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">81,547<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">242,014<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">297,318<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 458pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Earnings Per Share<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">We calculate our basic and diluted earnings per share using the two-class method for all periods presented as the unvested<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">shares of our restricted class A common stock qualify as participating securities, as defined by GAAP. These restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">shares have the same rights as our other shares of class A common stock, including participating in any dividends, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">therefore have been included in our basic and diluted net income per share calculation. The shares issuable under our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Convertible Notes are included in dilutive earnings per share using the if-converted method when the effect is not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.98pt">antidilutive.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 126.58pt"> following table sets forth the c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.8pt">alculation of basic and diluted net income per share of class A common stock based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">the weighted-average of both restricted and unrestricted class A common stock outstanding ($ in thousands, except per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.31pt">share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Basic and Diluted Earnings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 81.66pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">63,397<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.21pt"></span></span><span style="left: 34.84pt; position: var(--position)">(56,384)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">70,009<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(241,279)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Weighted-average shares outstanding, basic and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">diluted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,812,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,637,101<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,903,127<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,881,116<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Per share amount, basic and diluted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.37<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(0.32)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.41<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(1.39)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 196.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 206.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.33pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.81pt">net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.32pt"> attributable to Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 218pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.96pt">For both the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.39pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 255.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.46000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.51pt">, our Convertible Notes were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 229.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.17pt">t included in the calculation of diluted earnings per share, as the impact is antidilutive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.98pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.93pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.87pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 241pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.82pt">discussion of our convertible notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 270.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Other Balance Sheet Items<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 288pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 174.52pt">Accumulated Other Comprehensive Income<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 233.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 305.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.16pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.67pt">, total accumulated other comprehensive income was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.21pt">$9.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.6pt">, representing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.21pt">$93.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.19pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 428.68pt">net realized and unrealized gains related to changes in the fair value of derivative instruments, offset by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.59pt">$82.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.57pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">cumulative unrealized currency translation adjustments on assets and liabilities denominated in foreign currencies and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.54pt">$1.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 445.36pt"> of unrealized losses related to the changes in the fair value of derivative instruments held by unconsolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 351.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.48pt">entities. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.97999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.68pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 214.64pt">, total accumulated other comprehensive income was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.92pt">$8.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.19pt">, primarily representing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.46pt">$272.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 435.41pt"> of net realized and unrealized gains related to changes in the fair value of derivative instruments offset by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 374.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.66pt">$263.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 435.25pt"> of cumulative unrealized currency translation adjustments on assets and liabilities denominated in foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.54pt">currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 415.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.52pt">Non-Controlling Interests<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 162.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 433pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">The non-controlling interests included on our consolidated balance sheets represent the equity interests in our Multifamily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 444.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Joint Venture that are not owned by us. A portion of our Multifamily Joint Venture&#8217;s consolidated equity and results of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 456pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">operations are allocated to these non-controlling interests based on their pro rata ownership of our Multifamily Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 467.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.86pt">Venture. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.82pt">, our Multifamily Joint Venture&#8217;s total equity was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$44.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.99pt">, of which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.93pt">$38.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 479pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.61pt">was owned by us, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.47pt">$6.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 201.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.69pt"> was allocated to non-controlling interests. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.78pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.34pt">, our Multifamily<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.13pt">Joint Venture&#8217;s total equity was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$45.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.68pt">, of which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">$39.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 341.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.06pt">was owned by us, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.16pt">$6.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.81pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.96pt">was allocated to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 502pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.45pt">non-controlling interests.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Expenses<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherIncomeAndExpensesAbstract', window );"><strong>Other Income and Expenses [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock', window );">Other Expenses</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">OTHER EXPENSES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Our other expenses consist of the management and incentive fees we pay to our Manager and our general and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 560.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.2pt">administrative expenses.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 590pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Management and Incentive Fees<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 191.5pt">Pursuant to a management agreement between <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 250pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.47pt">our Manager and us, or our Management Agreement, our Manager earns a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 619pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 186.02pt">base management fee in an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 270.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.04pt"> per annum multiplied by our Equity, as defined in the Management<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 630.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.14pt">Agreement. In addition, our Manager is entitled to an incentive fee in an amount equal to the product of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">20%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.51pt"> and (ii)&#160;the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">excess of (a)&#160;our Core Earnings (as defined in our Management Agreement) for the previous 12-month period over (b)&#160;an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.65pt">amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">7.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.98000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 358.04pt"> per annum multiplied by our Equity, provided that our Core Earnings over the prior <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 513.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.52pt">-year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.95pt">period is greater than <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 147.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">zero<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.72pt">. Core Earnings, as defined in our Management Agreement, is generally equal to our GAAP net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">income (loss), including realized gains and losses not otherwise recognized in current period GAAP net income (loss), and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">excluding (i)&#160;non-cash equity compensation expense, (ii)&#160;depreciation and amortization, (iii)&#160;unrealized gains (losses), (iv)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.01pt">net income (loss) attributable to our legacy portfolio, (v)&#160;certain non-cash items, and (vi)&#160;incentive management fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.86pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.93pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 161.29000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.3pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 222.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.45pt">, we incurred <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.02pt">$16.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.1pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.67pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.02pt">$51.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.92pt">, respectively, of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 233.86pt">management fees payable to our Manager compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.34pt">$18.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.41pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.34pt">$56.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.03pt">, respectively, during the same<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.42pt">periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.81pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.72999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.72999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.02pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.56pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.63pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.85pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.78999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.67pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.81pt"> did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 455.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.72pt"> incu<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 78pt">r any incentive fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.67pt">payable to our Manager.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 156.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.38pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 272.44pt">, we had accrued management fees payable to our Manager of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$16.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$18.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">General and Administrative Expenses<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.01pt">General and admin<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.98pt">istrative expenses consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 182pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Professional services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,351<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,543<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,709<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating and other costs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,094<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">1,686<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,824<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,044<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 53.3pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,445<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,439<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">17,367<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">16,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-cash compensation expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock earned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,130<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,728<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">21,053<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">23,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Director stock-based compensation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">172<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">256<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">517<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">658<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 115.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,302<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,984<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">21,570<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">24,058<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 130.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total general and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,747<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,423<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">38,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">40,811<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 332.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.35pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.43pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.12pt">, we recognized an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$66,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.19pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 513.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$259,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.16pt">respectively, of expense related to our Multifamily Joint V<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.96pt">enture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.84pt">, compared to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.59pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$125,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.61pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$668,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.84pt">, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.51pt">during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 720<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/720/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name Accounting Standards Codification<br> -Topic 610<br> -Publisher FASB<br> -URI https://asc.fasb.org/610/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">INCOME TAXES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">We have elected to be taxed as a REIT under the Internal Revenue Code for U.S. federal income tax purposes. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">generally must distribute annually at least 90% of our net taxable income, subject to certain adjustments and excluding any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">net capital gain, in order for U.S. federal income tax not to apply to our earnings. To the extent that we satisfy this<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">distribution requirement, but distribute less than 100% of our net taxable income, we will be subject to U.S. federal income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">tax on our undistributed taxable income. In addition, we will be subject to a 4% nondeductible excise tax if the actual<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">amount that we pay out to our stockholders in a calendar year is less than a minimum amount specified under U.S. federal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.51pt">tax laws.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">Our qualification as a REIT also depends on our ability to meet various other requirements imposed by the Internal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Revenue Code, which relate to organizational structure, diversity of stock ownership, and certain restrictions with regard to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.78pt">the nature of our assets and the sources of our income. Even if we qualify as a REIT, we may be subject to certain U.S.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">federal income and excise taxes and state and local taxes on our income and assets. If we fail to maintain our qualification<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 551pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">as a REIT for any taxable year, we may be subject to material penalties as well as federal, state, and local income tax on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 562.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">our taxable income at regular corporate rates and we would not be able to qualify as a REIT for the subsequent four full<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.91pt">taxable years.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt"> As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.93pt">, we were in compliance with all REIT requirements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 597.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Securitization transactions could result in the creation of taxable mortgage pools for federal income tax purposes. As a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">REIT, so long as we own 100% of the equity interests in a taxable mortgage pool, we generally would not be adversely<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">affected by the characterization of the securitization as a taxable mortgage pool. Certain categories of stockholders,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 632pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">however, such as foreign stockholders eligible for treaty or other benefits, stockholders with net operating losses, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">certain tax-exempt stockholders that are subject to unrelated business income tax, or UBTI, could be subject to increased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 655pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">taxes on a portion of their dividend income from us that is attributable to the taxable mortgage pool. We have not made<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 451.84pt">UBTI distributions to our common stockholders and do not intend to make such UBTI distributions in the future.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.68pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.75pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.53pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.38pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.23pt">, we recorded a current income tax provision of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.43pt">$1.5 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 701.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.48pt">and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.4pt">$3.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 428pt">, respectively, primarily related to activities of our U.S. and foreign taxable subsidiaries and various state<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.17pt">and local taxes. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.51pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 228.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.17pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.14pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.9pt">, we recorded a current income tax provision<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 724.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">o<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 63.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.33pt">f<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 66.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$613,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.93pt"> a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.75999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">nd <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.85pt">$2.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 367.04pt">, respectively, primarily related to activities of our U.S. and foreign taxable subsidiaries and<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.31pt">various state and local taxes. We did <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 215.79pt"> have any deferred tax assets or liabilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.9100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.49pt"> or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">We have net operating losses, or NOLs, generated by our predecessor business that may be carried forward and utilized in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.43pt">current or future periods. As a result of our issuance of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt">25,875,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.51pt"> shares of class A common stock in May 2013,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.2pt">the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 191.27pt">availability of our NOLs is generally limited to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.9pt">$2.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.66999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.06pt"> per annum<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 343.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.67pt"> by change of control provisions promulgated by the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 379.36pt">Internal Revenue Service with respect to the ownership of Blackstone Mortgage Trust. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.1pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.46pt">, we had<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.76pt">estimated NOLs of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.93pt">$159.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.58pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.55pt">that will expire in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2029<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 292.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 261.18pt">, unless they are utilized by us prior to expiration. Previously, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">recorded a full valuation allowance against such NOLs as we expected that they would expire unutilized. However,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">although uncertain, we may utilize a portion of NOLs prior to expiration. We do not expect the utilization of NOLs to have<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">a material impact on our consolidated financial statements. 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income tax.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock-Based Incentive Plans<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Share-Based Payment Arrangement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock-Based Incentive Plans</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">STOCK-BASED INCENTIVE PLANS <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.12pt">We are externally managed by our Manager and do not currently have any employees. However, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.36pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">our Manager, certain individuals employed by an affiliate of our Manager, and certain members of our board of directors<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 305.25pt">were compensated, in part, through our issuance of stock-based instruments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.59pt">Under our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.96pt"> current stock incentive plans, a maximum of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt">10,400,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 207.33pt"> shares of our class A common stock may be issued<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.31pt">to our Manager, our directors and officers, and certain employees of affiliates of our Manager. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.08pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.37pt">there were <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">5,980,325<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.66pt"> shares available under our current stock incentive plans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 344.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.31pt">average grant date fair value per share:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 367.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 352.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 352.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.49pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.35pt; position: var(--position); text-decoration: none; white-space: pre">Restricted Class A<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.56pt; position: var(--position); text-decoration: none; white-space: pre"> Common Stock <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.9pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-Average<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.12pt; position: var(--position); text-decoration: none; white-space: pre"> Grant Date Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.9pt; position: var(--position); text-decoration: none; white-space: pre"> Value Per Share<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 29.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">2,142,759<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">21.13<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 44.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Granted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">511,012<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">17.88<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Vested<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(1,027,285)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">21.17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 74.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Forfeited<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(43,832)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">19.41<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 89.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1,582,654<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">20.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.75pt">These shares generally vest in installments over a period of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt">three years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.18pt">, pursuant to the terms of the respective award<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.13pt">agreements and the terms of our current stock incentive plans. The <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">1,582,654<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.73pt"> shares of restricted class A common stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.36pt">outstanding as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.49pt"> will vest as follows: <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">304,010<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt"> shares will vest in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.13pt">; <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">863,026<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 475.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.8pt"> shares will vest in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2026<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 78.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.84pt">; and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">415,618<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.96pt"> shares will vest in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 215.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2027<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 238.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.32pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.08pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 349.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 203.83pt">, total unrecognized compensation cost relating to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.97pt">unvested share-based compensation arrangements was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.64pt">$30.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 337.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.26pt"> based on the grant date fair value of shares granted.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.07pt">This cost is expected to be recognized over a weighted-average period of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.5pt">1.0<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.69pt"> year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.43pt"> from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangement.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Values<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Values</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">FAIR VALUES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Assets and Liabilities Measured at Fair Value<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.88pt">The following table summarizes our assets and liabilities measured at fair value on a recurring basis ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 114.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 138pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 55.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 56.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.75pt">This table excludes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.23pt">$104.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 354.86pt"> of investments in unconsolidated entities that are measured at fair value using net asset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 308.98pt">value as a practical expedient and not classified in the fair value hierarchy as <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.22pt">No<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.49pt"> assets were measured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 252.68pt">at fair value using net asset value as a practical expedient as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.95pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 552.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.95pt">Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 227.52pt"> for further discussion regarding fair value measurement.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.77pt">Fair Value of Financial Instruments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 212.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 310.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.83pt">As discussed in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 126.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.97pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 399.08pt">, GAAP requires disclosure of fair value information about financial instruments, whether or not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 439.9pt">recognized at fair value in the statement of financial position, for which it is practicable to estimate that value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 456.24pt">The following table details the book value, face amount, and fair value of the financial instruments described in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.36pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.27pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 380.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 147.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 52.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.24pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial assets<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">17,407,513<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,288,958<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 76.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial liabilities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,450,250<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,590,400<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,455,101<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,838,089<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 119.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Asset-specific debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">619,599<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,218,639<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 133.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loan participations sold, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 23.63pt"></span></span><span style="left: 26.259999999999998pt; position: var(--position)">99,822<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured term loans, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,812,573<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,765,668<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">801,487<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">780,931<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 176.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Convertible notes, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">262,899<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">257,707<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Estimates of fair value for cash and cash equivalents and convertible notes are measured using observable, quoted market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">prices, or Level 1 inputs. Estimates of fair value for securitized debt obligations, the Term Loans, and the Senior Secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">Notes are measured using observable, quoted market prices, in inactive markets, or Level 2 inputs. All other fair value<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 339.18pt">significant estimates are measured using unobservable inputs, or Level 3 inputs. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.93pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 424.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 128.82pt"> for further discussion regarding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.76pt">fair value measurement of certain of our assets and liabilities.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 107<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 100<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6A<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6A<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6A<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 940<br> -SubTopic 820<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Variable Interest Entities<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract', window );"><strong>Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableInterestEntityDisclosureTextBlock', window );">Variable Interest Entities</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">VARIABLE INTEREST ENTITIES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">We have financed a portion of our loans through the CLOs, all of which are VIEs. We are the primary beneficiary of, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">therefore consolidate, the CLOs on our balance sheet as we (i) control the relevant interests of the CLOs that give us power<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">to direct the activities that most significantly affect the CLOs, and (ii) have the right to receive benefits and obligation to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.49pt">absorb losses of the CLOs through the subordinate interests we own.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.7pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 107.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.67pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.56pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.49pt">, we modified <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 397.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.14pt"> loans that included, among other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 321pt">changes, control over decision making at the respective properties. Similarly, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.6pt">during 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.72pt">, we modified <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.73pt"> other loa<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 544.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 8.89pt">ns<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.16pt">that included, among other changes, an equit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.32pt">y interest in and/or control over decision-making at the property.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.38pt"> As a result of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 272.42pt">these modifications, our investments in these loans are VIEs. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.56pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.94pt">, we are the primary beneficiary of,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">and therefore consolidated the assets of these VIEs on our balance sheet as we (i) have the power to direct the activities that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 408.36pt">most significantly affect the property, and (ii) have the right to receive excess sale proceeds upon exit.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.79pt">The following table details the assets and liabilities of our consolidated VIEs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 170pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 183.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 336.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 336.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.44pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 27.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">40,299<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 46.92pt; position: var(--position)">9,145<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 42.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,946,640<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,338,201<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 57.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.46pt"></span></span><span style="left: 41.09pt; position: var(--position)">(133,345)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 57.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">(202,400)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 72.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,813,295<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 72.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,135,801<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 87.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">525,084<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 87.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">177,322<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 102.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">234,188<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 102.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">126,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 117.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">3,612,866<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 117.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,448,786<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 147.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 147.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 162.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">41,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 162.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 41.92pt; position: var(--position)">13,277<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 177.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,511,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 177.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,950,233<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 393.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Assets held by these VIEs are restricted and can be used only to settle obligations of the VIEs, including the subordinate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">interests owned by us. The liabilities of these VIEs are non-recourse to us and can only be satisfied from the assets of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 416.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">VIEs. The consolidation of these VIEs results in an increase in our gross assets, liabilities, revenues and expenses, however<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">it does not affect our stockholders&#8217; equity or net income. We are not obligated to provide, have not provided, and do not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.21pt">intend to provide material financial support to these consolidated VIEs.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a variable interest entity (VIE), including but not limited to, judgments and assumptions in determining whether to consolidate and in identifying the primary beneficiary, gain (loss) recognized on the initial consolidation of the VIE, terms of arrangements, amounts and classification of the VIE's assets and liabilities, and the entity's maximum exposure to loss.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 810<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/810/tableOfContent<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Transactions With Related Parties</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.85pt">TRANSACTIONS WITH RELATED PARTIES<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 280.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.11pt">Our Manager<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">We are managed by our Manager pursuant to the Management Agreement. The current term of the Management<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.57pt">Agreement expires on December&#160;19, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.94pt">, and it will be automatically renewed for a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.52pt">-year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.48pt"> term upon such date and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 533.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.32pt">each anniversary thereafter unless earlier terminated.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 556.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.48pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.58pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 273.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 179.74pt">, our consolidated balance sheets included <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.37pt">$16.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.5pt">$18.5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.85pt">million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 87.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.11pt">, respectively, of accrued management fees payable to our Manager. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.36pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 430.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.43pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.13pt"> months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 579.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 122.33pt">, we paid management fees of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 261.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.94pt">$17.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 315.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.61pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.94pt">$52.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 388.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.6pt">, respectively, to our M<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.62pt">anager<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.48pt">, compared<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.18pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$18.7 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.25pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.76pt">$64.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.16pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 118.97pt">, during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 373.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.42pt">. In addition, during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 495pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.41pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 602.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.99pt">months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.49000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 105.24pt">, we incurred expenses of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 305.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$449,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.13pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$868,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.26pt">, respectively, that were paid by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 614.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 289.29pt">Manager and have been or will be reimbursed by us, compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$340,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.57pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 408.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.92pt">$1.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.61pt">, respectively, of such<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 625.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.89pt">expenses during the same <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.42pt">periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 192.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 649.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.74pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.52pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.14pt">, our Manager held <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 246.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">828,213<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.09pt"> shares of unvested restricted class A common stock, which had an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 660.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.62pt">aggregate grant date fair value of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.82pt">$17.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.49pt">. These shares vest in installments over <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.51pt">three years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 478.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.47pt"> from the date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 672.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.88pt">issuance. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.27pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.31pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.96000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.9pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 348.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 204.53pt">, we recorded non-cash expenses related to shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 683.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.87pt">held by our Manager of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.25pt">$3.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.23pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 242.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.25pt">$10.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.01pt">, respectively, compared to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.25pt">$4.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.23pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.25pt">$12.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 695.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 161.76pt">respectively, during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 240.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.95pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.21000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.58pt"> for further details on our restricted class A common stock.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 547.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.38pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.38pt">, our Manager, its affiliates (including Blackstone and Blackstone-advised investment vehicles),<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.44pt">Blackstone employees, and our directors held an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 45pt">12,874,956<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 45.43pt"> shares, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">7.5%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 413.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.15pt">, of our class A common stock, of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.22pt">which <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 40pt">8,234,581<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.2pt"> shares, or <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">4.8%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.31pt">, were held by <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.81pt">Blackstone and its subsidiaries<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 374.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.98pt">. Additionally, our directors held <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">331,611<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.13pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.55pt">deferred stock units as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.86pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 309.4pt">. Certain of the parties listed above have in the past purchased or sold shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">of our class A common stock in open market transactions, and such parties may in the future purchase or sell additional<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">shares of our class A common stock and/or engage in derivatives transactions related to our class A common stock. Any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">such transactions would be made in the sole discretion of the relevant party based on market conditions and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 134.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.08pt">considerations relevant to such parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.39pt">Affiliate Services<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">We have engaged certain portfolio companies owned by Blackstone-advised investment vehicles to provide various<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.17pt">services. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.32pt"> following table details the costs incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 209.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 0pt; width: 114pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.59pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 0pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.17pt; position: var(--position); text-decoration: none; white-space: pre">Asset Class<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 21.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.12pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Brio Real Estate Services, LLC, Brio Real Estate <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">(UK) Ltd., and Brio Real Estate (AUS) Pty Ltd.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 193.82999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 34.5pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">1,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">2,345<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Corporate Services, LLC and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Global Services Europe S.&#224; r.l.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 170.76pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 59.25pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">353<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">384<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">696<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 59.25pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">945<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Perform Properties, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 102.25pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.62pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 84pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">1,903<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">38<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">2,797<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 84pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LivCor, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 55.35pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 99pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">46<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">322<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 99pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BRE Hotels &amp; Resorts, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 117.22999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.18pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 114pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">284<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">1,153<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 114pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LendingOne, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 76.44pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 129pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">158<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 129pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 144pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">3,830<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">7,471<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 144pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">1,027<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 380.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 392.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">As applicable, provides management support, operational support, corporate support, and transaction support<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 404.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.67pt">services <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.81pt">to certain of our investments directly.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 415.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">As applicable, provides management support, operational support, and corporate support services to certain of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 427.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">REO assets directly.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 438.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 299.08pt">Successor entity to EQ Management, LLC that provides the same services.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 450.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.66pt">Provides loan origination services related to certain of our investments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.41pt">We have engaged affiliates of our Manager to provide various services noted below. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.53pt">The following table details the costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 174.82pt">incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BTIG, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 49.800000000000004pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">84<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gryphon Mutual Property Americas IC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 159.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">697<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">1,845<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">142<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Blackstone internal audit services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Lexington National Land Services<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 139.96pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">170<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">216<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Blackstone Securities Partners L.P.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 143.29pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">30<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">109<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">897<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">165<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,170<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">337<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 215.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Affiliates of our Manager own an interest in the controlling entity of BTIG, LLC, or BTIG. BTIG has been engaged<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 348.04pt">as a broker for repurchases of our Senior Secured Notes and Convertible Notes. D<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.38pt">uring the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.57pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.87pt">, there was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.58pt"> repurchase activity. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.07pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.29pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.44pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.64pt">repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.17pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.72pt"> of our Senior Secured Notes and Convertible Notes, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.67pt">utilizing BTIG as a broker<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 353.75pt"> Additionally, we have engaged BTIG as a sales agent to sell shares of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.51pt">common stock under one of our ATM Agreements. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">did not sell any shares under our ATM Agreements. Our engagements of BTIG are on terms equivalent to those of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.82pt">unaffiliated third parties under similar arrangements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">In the first quarter of 2024, in order to provide insurance for our REO assets, we became a member of Gryphon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Mutual Property Americas IC, or Gryphon, a captive insurance company owned by us and other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">investment vehicles. A Blackstone affiliate provides oversight and advisory services to Gryphon and receives fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">based on a percentage of premiums paid for such policies. The fees and expenses of Gryphon, including insurance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">premiums and fees paid to its manager, are paid annually and borne by us and the other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">investment vehicles that are members of Gryphon pro rata based on insurance premiums paid for each party&#8217;s<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 388.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.49pt">respective properties. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.88pt">, we paid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.86pt">$1.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.94pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 400.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$400,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 123pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.39pt">, respectively, to Gryphon for insurance costs, inclusive of premiums, capital surplus contributions, taxes,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 411.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.19pt">and our pro rata share of other expenses. Of these amounts, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$86,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 386.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$30,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.83pt">, respectively, was attributable to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 423.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">the fee paid to a Blackstone affiliate to provide oversight and management services to Gryphon. The amounts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 434.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">included in the table above reflect the amortization of the insurance expense over the relevant periods of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 446.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.54pt">respective policies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 457.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Lexington National Land Services, or LNLS, a title agent company owned by Blackstone, acts as an agent for one or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">more underwriters in issuing title policies and/or providing support services in connection with investments made by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 480.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">us, Blackstone and their affiliates and related parties, and third-parties. LNLS focuses on transactions in rate-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">regulated states where the cost of title insurance is non-negotiable. LNLS will not perform services in non-regulated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 503.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">states for us, unless (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 515.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">when a third-party is paying all or a material portion of the premium or (iv) when providing only support services to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">the underwriter. LNLS earns fees, which would have otherwise been paid to third parties, by providing title agency<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">services and facilitating placement of title insurance with underwriters. Blackstone receives distributions from LNLS<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.81pt">in connection with investments made by us based on its equity interest in LNLS. In each case, there will be no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.25pt">related expense offset to us.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.71pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.99pt">, Blackstone Securities Partners L.P., or BSP, an affiliate of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Manager, was engaged as a member of the syndicate for both our B-6 Term Loan and our B-7 Term Loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 301.56pt">engagements were on terms equivalent to those of unaffiliated third parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 642.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">CT Investment Management Co., LLC, or CTIMCO, serves as the special servicer of all of our CLOs, and the Manager<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">serves as the collateral manager and benchmark agent for our FL5 CLO issued in the first quarter of 2025. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 665.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 139.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.37pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 393.57pt"> of our assets were in special servicing under the CLOs. CTIMCO and our Manager have waived<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">any fees that would be payable to a third party serving in such roles pursuant to the applicable agreements, and no such fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 688.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.7pt">have been paid or will become payable to CTIMCO or our Manager.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">Other Transactions<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.58pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.55pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.03pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 265.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.53pt">, we invested <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.38pt">$666.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.83pt"> in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">five<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.06pt"> senior loans and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.38pt">$123.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.8pt"> in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt">four<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 478.22pt"> mezzanine loans to unaffiliated third parties in which Blackstone-advised investment vehicles also invested at the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.65pt">same level of the capital structure on a pari passu basis.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.47pt">In the third quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.95pt">, Blackstone-advised investment vehicles acquired an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.64pt">$33.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.82pt"> participation in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.05pt">our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.07pt">$453.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.03pt"> B-7 Term Loan. In the second quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 333.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.7pt">, Blackstone-advised investment vehicles acquired an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.62pt">aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.15pt">$83.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.77pt"> participation in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 237.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.38pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.96pt"> B-6 Term Loan. In the fourth quarter of 2024, Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 185.72pt">investment vehicles acquired (i) an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.2pt">$62.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.97pt"> participation in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.2pt">$650.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.81pt"> B-5 Term Loan, and (ii) an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.54pt">aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.03999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.07pt">$80.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 154.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.82pt"> of our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.07pt">$450.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.72pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 245.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.76pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 309.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.87pt"> Senior Secured Notes. All of these transactions were part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">broad syndications led by third-party banks, and were on terms equivalent to those of unaffiliated third parties. BSP, an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">affiliate of our Manager, was engaged as a member of the syndicate for these transactions. Our engagements of BSP are on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 395.59pt">terms equivalent to those of unaffiliated parties. See &#8220;&#8212;Affiliate Services&#8221; for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.64pt">In the first quarter of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 145.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 388.3pt">, as part of a broad syndication led by third-party banks, Blackstone-advised investment vehicles<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.83pt">acquired an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.32999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.08pt">$75.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 203.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.17pt"> of notes in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.58000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.31pt">$1.0&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 313.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 239.55pt"> FL5 CLO offering. All of these transactions were on terms<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.81pt">equivalent to those of unaffiliated third parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.31pt">In the second quarter of 2025, we entered into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.56pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.02pt"> with a Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.14pt">investment vehicle that concurrently acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.78pt">$1.4&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 301.41999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 252pt"> portfolio of performing commercial mortgage loans in which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.74pt">we made an equity investment of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt">$57.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 248.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.23pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">29%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.55pt">. In the third quarter of 2025, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.09pt">Bank<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.81pt">Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.96pt"> acquired a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 225.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.73pt">$606.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 285pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.47pt"> portfolio of performing commercial mortgage loans in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 121.94pt">made an equity investment of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 180.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.1pt">$44.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.83pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 169.62pt">. In the fourth quarter of 2024, we entered<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.95pt">into our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.43pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 361.53pt"> with a Blackstone-advised investment vehicle to invest in triple net lease properties. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.71pt">do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.88pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.75pt"> or our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.4pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 422.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 131.08pt"> as we do not have a controlling<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 349pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.82pt">financial interest. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.5pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 235.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.11pt">, the aggregate value of our equity investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 448.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 104.5pt">Bank Loan Portfolio Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.54pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.35pt">$104.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 132.33pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 231.14pt">, and the aggregate value of our equity investment in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 372pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.53pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.02pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.09pt">$77.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.77pt"> and our ownership interest was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 404.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.11pt">. We, these joint ventures, and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 383.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Blackstone-advised investment vehicles, together, have engaged and may in the future engage in certain financing,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 395pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 326.81pt">derivative and/or hedging arrangements related to these joint ventures. See Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">7<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.5pt">In the second quarter of 2025, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.49pt"> of our senior loans to borrowers controlled by a Blackstone-advised investment vehicle<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">were modified. The terms of the modifications (including maturity extensions and additional commitments, among other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">changes) were negotiated by our third-party co-lenders. We continue to forgo all non-economic rights under the loans,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.67pt">including voting rights, so long as the Blackstone-advised investment vehicle controls the applicable borrower.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.22pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.19pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.35pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 186.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.92pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.49pt">, proceeds from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt">four<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.06pt"> of our loans were used by the unaffiliated third-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.34pt">party borrowers to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.93pt">$554.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.6pt"> of performing loans held by Blackstone-advised investment vehicles, and proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 499.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">from financing provided by Blackstone-advised investment vehicles were used by the unaffiliated third-party borrower to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.63pt">repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.79pt">$148.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.48pt"> of a performing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 215.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.77pt"> of ours. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.37pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.44pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.1pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.19pt">, proceeds from a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">loan held by a Blackstone-advised investment vehicle were used by the unaffiliated third-party borrower to repay<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.92pt">$98.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 441.04pt"> of a performing loan of ours, and proceeds from the sale of assets to a Blackstone-advised investment vehicle<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 545.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.87pt">were used by the unaffiliated third-party borrower to repay <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.97pt">$59.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.16pt"> of a performing loan of ours to the borrower.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">These transactions were initiated by the applicable unaffiliated third-party borrowers with the transaction terms and pricing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.42pt">on market terms.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.36pt">In the fourth quarter of 2024, pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 166.08pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.68pt">, we referred <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 71.75pt"> loans to MTRCC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">for origination, where the borrower was a Blackstone-advised investment vehicle. The loan terms and pricing were on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 220.59pt">market terms negotiated by MTRCC. Pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 279.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.73pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.54pt">, we received <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$217,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.52pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.5pt">origination, servicing, and other fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.07pt"> for referring these loans during the fourth quarter of 2024.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">In the fourth quarter of 2024, in connection with the modification of one of our senior loans, a Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 419.76pt">investment vehicle purchased a pari passu participation in the loan from a third party at a discount to par.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 685pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">In the fourth quarter of 2024, the senior lenders negotiated a discounted payoff of a senior loan in which we held an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">interest. As part of the discounted payoff, a Blackstone-advised investment vehicle&#8217;s mezzanine loan, which had been part<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.54pt">of the total financing, received a small repayment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 169.44pt">In the third quarter of 2024, we acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.46pt">$94.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.94pt"> of a total <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 325.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.46pt">$560.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.52pt"> senior loan to an unaffiliated third party.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">One Blackstone-advised investment vehicle holds a portion of the senior loan and another holds a mezzanine loan. We will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">forgo all non-economic rights under our loan, including voting rights, so long as any Blackstone-advised investment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">vehicle controls the mezzanine loan. The intercreditor agreement between the senior loan lender and the mezzanine lender<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 330.65pt">was negotiated on market terms by a third party without our involvement, and our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">17%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 146pt"> interest in the senior loan was made<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.24pt">on such market terms.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.15pt">In 2019 and 2021, we acquired an aggregate participation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.33pt">&#8364;350.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.36pt"> in a senior loan to a borrower that is partially<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">owned by a Blackstone-advised investment vehicle. We forgo all non-economic rights under the loan, including voting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">rights, so long as the Blackstone-advised investment vehicle controls the borrower. The loan was negotiated by third parties<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">on market terms without our involvement, and our interest in the senior loan was subject to such market terms. In the third<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">quarter of 2024, the borrower completed a refinancing transaction involving new lenders and the existing lenders. 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position: var(--position); text-decoration: none; white-space: pre; width: 29.28pt"> of our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 141.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.89pt">&#163;148.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 112pt"> participation in an existing <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.89pt">&#163;303.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 371.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.91pt"> loan to a borrower that is wholly owned by a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 287.02pt">Blackstone-advised investment vehicle was repaid, and we received a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.55pt">&#163;100.0&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.32pt"> participation in a new loan made to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">the same borrower that continues to be controlled by a Blackstone-advised investment vehicle, and the terms of the loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">were modified to include, among other changes, an expanded collateral pool, an extension of the maturity date and an<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">increase in the interest rate. 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">COMMITMENTS AND CONTINGENCIES <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.22pt">Unfunded Commitments Under Loans Receivabl<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 266.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.43pt">e<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 271.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.24pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 86.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.02pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.66pt">, we had aggregate unfunded commitments of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.98pt">$1.5&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.77pt"> across <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">57<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.24pt"> loans receivable, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 418.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.97pt">$800.1&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 118.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.95pt"> of committed or identified financings for those commitments, resulting in net unfunded commitments of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59pt">$732.3&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.15pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.78pt">The unfunded loan commitments comprise funding for capital expenditures and construction, leasing costs,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 441.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">and interest and carry costs. Loan funding commitments are generally subject to certain conditions, including, without<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.79pt">limitation, the progress of capital projects, leasing, and cash flows at the properties securing our loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.15pt"> Therefore, the exact<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 464.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">timing and amounts of such future loan fundings are uncertain and will depend on the current and future performance of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">the underlying collateral assets. We expect to fund our loan commitments over the remaining term of the related loans,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 487.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 225.03pt">which have a weighted-average future funding period of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 283.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.08pt">2.1 years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 322.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.68pt">Principal Debt Repayments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 176.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.81pt">Our contractual principal debt repayments as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.89pt"> were as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 81.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 81.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.44pt; position: var(--position); text-decoration: none; white-space: pre">Year<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.86pt; position: var(--position); white-space: pre">Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.88pt; position: var(--position); white-space: pre">Asset-Specific <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); white-space: pre">Term <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.15pt; position: var(--position); white-space: pre">Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.03pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.76pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); text-decoration: none; white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.42pt; position: var(--position); white-space: pre">Convertible <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 39.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.49pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.7pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">199,342<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">203,096<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,313,383<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">324,282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,637,665<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,821,019<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">76,549<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">3,514,056<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,320,197<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,335,212<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,162,807<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">390,357<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">448,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,452,026<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,731,584<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">162,984<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,001,199<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,895,767<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 8.54pt"></span></span><span style="left: 16.169999999999998pt; position: var(--position)">13,037,822<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 220.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 232.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Our secured debt and asset-specific debt agreements are generally term-matched to their underlying collateral.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 243.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Therefore, the allocation of payments under such agreements is generally allocated based on the maximum maturity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 255.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">date of the collateral loans, assuming all extension options are exercised by the borrower. In limited instances, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 266.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.75pt">maturity date of the respective debt agreement is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.79pt">The Term Loans are partially amortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.3pt"> per annum of the initial principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 289.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.97pt">due in quarterly installments. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 239.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 11<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.29pt"> for further details on our Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 312.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.71pt"> for further details on our Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 324.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.72pt">Total does not include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$2.5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.72pt"> billion of consolidated securitized debt obligations, as the satisfaction of these liabilities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 335.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.02pt">will not require cash outlays from us.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 365.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Board of Directors&#8217; Compensation<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.92pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.7pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 164.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.24pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.07pt">our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">six<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 257.12pt"> non-employee directors are entitled to annual compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 454.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$210,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.76pt"> each, of which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$95,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.21pt"> is paid in cash and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.20999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$115,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 340.67pt"> is paid in the form of deferred stock units or, at their election, shares of restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.8pt">common stock. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 236.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.83pt">, the other <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 284.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 299.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.7pt"> board members, the chairperson of the board and our chief<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">executive officer, are not compensated by us for their service as directors. In addition, (i) the lead independent director<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.45pt">receives additional annual cash compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$30,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.92pt">, (ii) the chairs of our audit, compensation, and corporate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.48pt">governance committees receive additional annual cash compensation of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$20,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 385.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.68pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$15,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.29pt">, and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$10,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 479.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.68pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.75pt">respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.61pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">(iii) the members of our audit and investment risk management committees receive additional annual cash compensation of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$10,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 91pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$7,500<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 492.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">Litigation <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 510.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. 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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingDisclosureTextBlock', window );">Segment Reporting</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 73.5pt; position: var(--position); text-decoration: none; white-space: pre">SEGMENT REPORTING <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 568.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">Operating segments are defined as components of a business that can earn revenues and incur expenses for which discrete<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 580.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">financial information is available that is evaluated on a regular basis by the chief operating decision maker, or CODM. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 591.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.35pt">CODM is, collectively, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 170.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.28pt">Chief Executive Officer and Chief Financial Officer,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt"> who decide how to allocate resources and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 603.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 417.59pt">assess performance. A single management team reports to the CODM, who manages the entire business.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.95pt">We have determined that we have <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 336.6pt"> reportable segment based on how the CODM reviews and manages the business,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.78pt">which originates and acquires commercial mortgage loans and related investments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Our CODM reviews, among other things, consolidated net income (loss) that is reported on the Consolidated Statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Operations to make decisions, allocate resources and assess performance and does not evaluate the net income (loss) from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 684.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">any separate geography or product line. The measure of segment assets is reported on the Consolidated Balance Sheets as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.03pt">total consolidated assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Policies)<br></strong></div></th>
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<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 89.37pt">Basis of Presentation<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The accompanying consolidated financial statements include, on a consolidated basis, our accounts, the accounts of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">wholly-owned subsidiaries, majority-owned subsidiaries, and variable interest entities, or VIEs, of which we are the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 414.72pt">primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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In addition, we consolidate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">all VIEs of which we are considered the primary beneficiary. VIEs are defined as entities in which equity investors (i) do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">not have an interest with the characteristics of a controlling financial interest and/or (ii) do not have sufficient equity at risk<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for the entity to finance its activities without additional subordinated financial support from other parties. The entity that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">consolidates a VIE is known as its primary beneficiary and is generally the entity with (i) the power to direct the activities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">that most significantly affect the VIE&#8217;s economic performance and (ii) the right to receive benefits from the VIE or the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">obligation to absorb losses of the VIE that could be significant to the VIE. Entities that do not qualify as VIEs are generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">considered voting interest entities, or VOEs, and are evaluated for consolidation under the voting interest model. VOEs are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 662.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.71pt">consolidated when we control the entity through a majority voting interest or other means.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">For consolidated entities, the non-controlling partner&#8217;s share of the assets, liabilities, and operations of each joint venture is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">included in non-controlling interests as a component of total equity. The non-controlling partner&#8217;s interest is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 248.59pt">computed as the joint venture partner&#8217;s ownership percentage.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 307.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">When the requirements for consolidation are not met and we have significant influence over the operations of the entity, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.89pt">investment is accounted for under the equity method of accounting.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 216.97pt"> Investments in unconsolidated entities for which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not elected the fair value option, or FVO, are initially recorded at cost and subsequently adjusted for our pro-rata<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">share of net income, contributions and distributions. When we elect the FVO, we record our share of the net asset value of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 214.44pt">the entity and any related unrealized gains and losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We review our investments in unconsolidated entities for impairment each quarter or when there is an event or change in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">circumstances that indicates a decrease in value. If there is a decrease in value due to a series of operating losses or other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 492.2pt">factors, the investment is evaluated to determine if the loss in value is considered other than temporary. Although a curren<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">t<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">fair value below the carrying value of the investment is an indicator of impairment, we will only recognize an impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">if the loss in value is determined to be an other than temporary impairment. If an impairment is determined to be other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 181pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">temporary, we will record an impairment charge sufficient to reduce the investment&#8217;s carrying value to its fair value, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 192.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">would result in a new cost basis. This new cost basis will be used for future periods when recording subsequent income or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.82pt">loss and cannot be written up to a higher value as a result of increases in fair value.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In 2017, we entered into a joint venture with Walker &amp; Dunlop Inc., or Walker &amp; Dunlop, to originate, hold, and finance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">multifamily bridge loans, which we refer to as our Multifamily Joint Venture. Pursuant to the terms of the agreements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 243.83pt">governing the joint venture, Walker &amp; Dunlop contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 302.33000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">15%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 212pt"> of the venture&#8217;s equity capital and we contributed <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">85%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">We consolidate our Multifamily Joint Venture as we have a controlling financial interest. The non-controlling interests<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">included on our consolidated balance sheets represent the equity interests in our Multifamily Joint Venture that are owned<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">by Walker &amp; Dunlop. A portion of our Multifamily Joint Venture&#8217;s consolidated equity and results of operations are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">allocated to these non-controlling interests based on Walker &amp; Dunlop&#8217;s pro rata ownership of our Multifamily Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">Venture.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 93.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">In 2024, we entered into a joint venture with a Blackstone-advised investment vehicle to invest in triple net lease<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.6pt">properties, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.8pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.81pt">. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.79pt">Net Lease Joint<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.18pt">Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.14pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.05pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.82pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.3pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.86pt">We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.59pt"> do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 363.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.71pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.83pt"> as we do not have a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.11pt">controlling financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.44pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 366.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.32pt"> is accounted for under the equity method, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.13pt">is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 150.67pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 268.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.16pt"> on our consolidated balance sheets, and our pro-rata share of income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.59pt">(loss) is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In the second quarter of 2025, we entered into a joint venture with a Blackstone-advised investment vehicle to acquire<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.46pt">portfolios of performing commercial mortgage loans, which we refer to as our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.6pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.78pt">. During<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.19pt">the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.47pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.99pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 153.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.2pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.81pt">, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.72pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 396.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.37pt"> acquired <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.99pt">two<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 452.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.12pt"> portfolios of performing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 287.08pt">commercial mortgage loans. Our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 143.04pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 488.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.68pt"> was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.79pt"> as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.96pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 142.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.17pt">. We do not consolidate our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.24pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 140.46pt"> as we do not have a controlling<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 162.36pt">financial interest. Our investment in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.8pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 359.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.8pt"> is accounted for using the FVO, and is recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.83pt">as an <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 83.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.54pt">investment in unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.51pt"> on our consolidated balance sheets, and our pro-rata share of any unrealized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.77pt">gains and losses is recorded in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.26999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 170.36pt">income (loss) from unconsolidated entities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 352.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 183.42pt"> on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 70.5pt">Use of Estimates<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">The preparation of consolidated financial statements in conformity with GAAP requires us to make estimates and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 551.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 574.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.74pt">period. Actual results may ultimately differ materially from those estimates.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueRecognitionInterest', window );">Revenue Recognition</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.2pt">Revenue Recognition<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 148.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Interest income from our loans receivable portfolio is recognized over the life of each loan using the effective interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 633pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">method and is recorded on the accrual basis. Recognition of fees, premiums, and discounts associated with these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.05pt">investments is deferred and recorded over the term of the loan as an adjustment to yield.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.08pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.84pt">Income accrual is generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.8pt">suspended for loans at the earlier of the date at which payments become 90 days past due or when, in our opinion, recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 171.48pt">of income and principal becomes doubtful<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 229.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 321.01pt"> Interest received is then recorded as income or as a reduction in the amortized<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">cost basis, based on the specific facts and circumstances, until accrual is resumed when the loan becomes contractually<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.79pt">current <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 89.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.94pt">and performance is demonstrated to be resumed.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 270.24pt"> In addition, for loans we originate, the related origination expenses<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">are deferred and recognized as a reduction to interest income, however expenses related to loans we acquire are included in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 193.63pt">general and administrative expenses as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">The sources of revenue from our REO assets, which is included in revenue from real estate owned on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 337.33pt">statements of operations, and the related revenue recognition policies are as follows:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Rental income primarily consists of base rent income arising from tenant leases at our office and multifamily properties.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Base rent is recognized on a straight-line basis over the life of the lease, including any rent steps or abatement provisions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">We begin to recognize revenue upon the acquisition of the related property or when a tenant takes possession of the leased<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.68pt">space.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Other operating income primarily consists of income from our hospitality properties and tenant reimbursement income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Revenue from our hospitality properties consists primarily of room revenue and food and beverage revenue. Room revenue<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">is recognized when the related room is occupied and other hospitality revenue is recognized when the service is rendered.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Tenant reimbursement income primarily consists of amounts due from tenants for costs related to common area<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.78pt">maintenance, real estate taxes, and other recoverable costs included in lease agreements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">We evaluate the collectibility of receivables related to rental revenue on an individual lease basis and exercise judgment in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">assessing collectability considering the length of time a receivable has been outstanding, tenant credit-worthiness, payment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">history, available information about the financial condition of the tenant, and current economic trends, among other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.04pt">Tenant receivables that are deemed uncollectible are recognized as a reduction to rental revenue.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and Cash Equivalents</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.49pt">Cash and Cash Equivalents<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">Cash and cash equivalents represent cash held in banks and liquid investments with original maturities of three months or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.98pt">less<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 73.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 75.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.4pt"> We may have bank balances in excess of federally insured amounts; however, we deposit our cash and cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">equivalents with high credit-quality institutions to minimize credit risk exposure. We have not experienced, and do not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.69pt">expect, any losses on our cash or cash equivalents. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.77pt">As of both <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.26pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 402.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.47pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.58pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.02pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 510.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.6pt">we had<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.52pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 543.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.15pt">restricted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.06pt"> cash on our consolidated balance <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 232.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.41pt">sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 257.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinanceLoansAndLeasesReceivablePolicy', window );">Loans Receivable</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.65pt">Loans Receivable<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">We originate and purchase commercial real estate debt and related instruments generally to be held as long-term<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.94pt">investments at amortized cost.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditLossFinancialInstrumentPolicyTextBlock', window );">Current Expected Credit Losses Reserve</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 173.69pt">Current Expected Credit Losses Reserve<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The current expected credit loss, or CECL, reserve required under the Financial Accounting Standards Board, or FASB,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Accounting Standards Codification, or ASC, Topic 326 &#8220;Financial Instruments &#8211; Credit Losses,&#8221; or ASC 326, reflects our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">current estimate of potential credit losses related to our loans and notes receivable included in our consolidated balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">sheets. Changes to the CECL reserves are recognized through net income on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">While ASC 326 does not require any particular method for determining the CECL reserves, it does specify the reserves<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">should be based on relevant information about past events, including historical loss experience, current portfolio and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">market conditions, and reasonable and supportable forecasts for the duration of each respective loan. In addition, other than<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">a few narrow exceptions, ASC 326 requires that all financial instruments subject to the CECL model have some amount of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">loss reserve to reflect the principle underlying the CECL model that all loans and similar assets have some inherent risk of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 320.16pt">loss, regardless of credit quality, subordinate capital, or other mitigating factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">We estimate our CECL reserves primarily using the Weighted-Average Remaining Maturity, or WARM method, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 582pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">has been identified as an acceptable loss-rate method for estimating CECL reserves in FASB Staff Q&amp;A Topic 326, No. 1.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The WARM method requires us to reference historic loan loss data across a comparable data set and apply such loss rate to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">each of our loans over their expected remaining term, taking into consideration expected economic conditions over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">relevant time frame. We apply the WARM method for the majority of our loan portfolio, which consists of loans that share<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">similar risk characteristics. In certain instances, for loans with unique risk characteristics, we may instead use a probability-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 469.45pt">weighted model that considers the likelihood of default and expected loss given default for each such individual loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 663pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Application of the WARM method to estimate CECL reserves requires judgment, including (i) the appropriate historical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">loan loss reference data, (ii) the expected timing and amount of future loan fundings and repayments, and (iii) the current<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit quality of our portfolio and our expectations of performance and market conditions over the relevant time period. To<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">estimate the historic loan losses relevant to our portfolio, we have augmented our historical loan performance, with market<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">loan loss data licensed from Trepp LLC. This database includes commercial mortgage-backed securities, or CMBS, issued<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.35pt">since January 1, 1999 through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 182.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.04pt">August&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 249.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 303.45pt">. Within this database, we focused our historical loss reference calculations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">on the most relevant subset of available CMBS data, which we determined based on loan metrics that are most comparable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">to our loan portfolio including asset type, geography, and origination loan-to-value, or LTV. We believe this CMBS data,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">which includes month-over-month loan and property performance, is the most relevant, available, and comparable dataset<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.57pt">to our portfolio.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Our loans typically include commitments to fund incremental proceeds to our borrowers over the life of the loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">future funding commitments are also subject to the CECL model. The CECL reserve related to future loan fundings is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">recorded as a component of other liabilities on our consolidated balance sheets. This CECL reserve is estimated using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same process outlined above for our outstanding loan balances, and changes in this component of the CECL reserve will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">similarly impact our consolidated net income. For both the funded and unfunded portions of our loans, we consider our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 169.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 389.25pt">internal risk rating of each loan as the primary credit quality indicator underlying our assessment.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 447.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The CECL reserves are measured on a collective basis wherever similar risk characteristics exist within a pool of similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 204.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.37pt">assets. We have identified the following pools and measure the reserve for credit losses using the following methods:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 526.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.25pt">U.S. Loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.68pt">: WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 233.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.02pt">Non-U.S. Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 386.87pt"> WARM method that incorporates a subset of historical loss data, expected weighted-average<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 240.58pt">remaining maturity of our loan pool, and an economic view.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 335.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.04pt">Unique Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.98pt"> a probability of default and loss given default model, assessed on an individual basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 500.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 297.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 73.58pt">Impaired Loans:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.07999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 381.21pt">impairment is indicated when it is deemed probable that we will not be able to collect all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">amounts due to us pursuant to the contractual terms of the loan. Determining that a loan is impaired requires<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">significant judgment from management and is based on several factors including (i) the underlying collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">performance, (ii) discussions with the borrower, (iii) borrower events of default, and (iv) other facts that impact<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">the borrower&#8217;s ability to pay the contractual amounts due under the terms of the loan. If a loan is determined to be<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">impaired, we record the impairment as a component of our CECL reserves by applying the practical expedient for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">collateral dependent loans. The CECL reserves are assessed on an individual basis for these loans by comparing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.83pt">the estimated fair value of the underlying collateral, less costs to sell, to the book value of the respective loan.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">These valuations require significant judgments, which include assumptions regarding capitalization rates, discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">rates, leasing, creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">sponsorship, actions of other lenders, and other factors deemed relevant by us. Actual losses, if any, could<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">ultimately differ materially from these estimates. We only expect to charge off the impairment losses in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.87pt">consolidated financial statements prepared in accordance with GAAP if and when such amounts are deemed non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">recoverable. This is generally at the time a loan is repaid or foreclosed, or the underlying collateral assets are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">otherwise consolidated. However, non-recoverability may also be concluded if, in our determination, it is nearly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.65pt">certain that all amounts due will not be collected.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 291.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 499.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.82pt">Contractual Term and Unfunded Loan Commitments<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 270.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Expected credit losses are estimated over the contractual term of each loan, adjusted for expected repayments. As part of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 528.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">our quarterly review of our loan portfolio, we assess the expected repayment date of each loan, which is used to determine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 269.71pt">the contractual term for purposes of computing our CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 328.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Additionally, the expected credit losses over the contractual period of our loans are subject to the obligation to extend<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">credit through our unfunded loan commitments. The CECL reserve for unfunded loan commitments is adjusted quarterly,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">as we consider the expected timing of future funding obligations over the estimated life of the loan. The considerations in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">estimating our CECL reserve for unfunded loan commitments are similar to those used for the related outstanding loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.52pt">receivable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.02000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.67pt">Credit Quality Indicator<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 156.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">Our risk rating is our primary credit quality indicator in assessing our current expected credit loss reserve. We perform a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">quarterly risk review of our portfolio of loans, and assign each loan a risk rating based on a variety of factors, including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">without limitation, origination LTV, debt yield, property type, geographic and local market dynamics, physical condition,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">cash flow volatility, leasing and tenant profile, loan structure and exit plan, and project sponsorship. Based on a 5-point<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">scale, our loans are rated &#8220;l&#8221; through &#8220;5,&#8221; from less risk to greater risk, relative to our loan portfolio in the aggregate, which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.41pt">ratings are defined as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">1 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 64.4pt">Very Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 158.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">2 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.82pt">Low Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 118pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">3 -<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.02pt">Medium Risk<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 152.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">4 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 124.63pt">High Risk/Potential for Loss:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 219.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.87pt"> A loan that has a risk of realizing a principal loss.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 420pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 153pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.83pt">5 -<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.94pt">Impaired/Loss Likely:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.93pt"> A loan that has a very high risk of realizing a principal loss or has otherwise incurred a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.05pt">principal loss.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 194pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 142.37pt">Estimation of Economic Conditions<span style="display: inline-block; height: 6.94pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 200.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 211.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">In addition to the WARM method computations and probability-weighted models described above, our CECL reserves are<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">also adjusted to reflect our estimation of the current and future economic conditions that impact the performance of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">commercial real estate assets securing our loans. These estimations include unemployment rates, interest rates, expectations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 246pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">of inflation and/or recession, and other macroeconomic factors impacting the likelihood and magnitude of potential credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">losses for our loans during their anticipated term. In addition to the CMBS data we have licensed from Trepp LLC, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 269pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">have also licensed certain macroeconomic financial forecasts to inform our view of the potential future impact that broader<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">economic conditions may have on our loan portfolio&#8217;s performance. We generally also incorporate information from other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 292pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sources, including information and opinions available to our Manager, to further inform these estimations. This process<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">requires significant judgments about future events that, while based on the information available to us as of the balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">sheet date, are ultimately indeterminate and the actual economic condition impacting our portfolio could vary significantly<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">from the estimates we made as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedPolicyPolicyTextBlock', window );">Real Estate Owned</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.6pt">Real Estate Owned<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 373.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">We may assume legal title, physical possession, or control of the collateral underlying a loan through a foreclosure, a deed-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 385pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">in-lieu of foreclosure transaction, or a loan modification in which we receive an equity interest in and/or control over<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.16pt">decision-making at the property, resulting in us consolidating the real estate assets as VIEs.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 431.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.24pt"> Th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 445.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.57pt">ese real estate acquisitions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 408pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">are classified as real estate owned, or REO, on our consolidated balance sheet and are initially recognized at fair value on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 398.76pt">the acquisition date in accordance with the ASC Topic 805, &#8220;Business Combinations,&#8221; or ASC 805.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 443pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Upon acquisition of REO assets, we assess the fair value of acquired tangible and intangible assets, which may include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 454.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">land, buildings, tenant improvements, &#8220;above-market&#8221; and &#8220;below-market&#8221; leases, acquired in-place leases, other identified<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 466pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">intangible assets and assumed liabilities, as applicable, and allocate the fair value to the acquired assets and assumed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.79pt">liabilities. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.07pt"><span style="background-color: inherit">We assess and consider fair value based on estimated cash flow projections that utilize discount and/or</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt"><span style="background-color: inherit">capitalization rates that we deem appropriate, as well as other available market information. Estimates of future cash flows</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt"><span style="background-color: inherit">are based on a number of factors including the historical operating results, known and anticipated trends, and market and</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 87.96pt"><span style="background-color: inherit">economic conditions. </span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 146.45999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.32pt">We capitalize acquisition-related costs associated with asset acquisitions.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 535.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Real estate assets held for investment, except for land, are depreciated using the straight-line method over the assets&#8217;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 547pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.62pt">estimated useful lives of up to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">40<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 234.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.61pt"> for buildings and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">10<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.41pt"> years<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 197.85pt"> for tenant improvements. Renovations and/or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 558.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">replacements that improve or extend the life of the asset are capitalized and depreciated over their estimated useful lives.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 570pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">Lease intangibles are amortized over the remaining term of applicable leases on a straight-line basis. The cost of ordinary<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 581.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 200.55pt">repairs and maintenance are expensed as incurred.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">Real estate assets held for investment are assessed for impairment on a quarterly basis. If the depreciated cost basis of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 616.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.61pt">asset exceeds the undiscounted cash <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.11pt; position: var(--position); text-decoration: none; white-space: pre; width: 164.09pt">flows over the remaining holding period<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 372.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 114.13pt">, the asset is considered for <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 486.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.04pt">impairment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.07pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 628pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.84pt">impairment loss is recognized when the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 224.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 187.39pt">carrying value of the real estate assets exceed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 411.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.57pt"> their fair value. <span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.1pt"><span style="background-color: inherit">The evaluation of</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 639.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">anticipated future cash flows is highly subjective and is based in part on assumptions regarding future occupancy, rental</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 651pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 422.46pt"><span style="background-color: inherit">rates, capital requirements and anticipated holding periods that could differ materially from actual results.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 674.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Real estate assets are classified as held for sale in the period when they meet the criteria under ASC Topic 360 &#8220;Property,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 686pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Plant, and Equipment.&#8221; Once a real estate asset is classified as held for sale, depreciation is suspended and the asset is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 697.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 288.18pt">reported at the lower of its carrying value or fair value less cost to sell<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 206.65pt">. If circumstances arise and we decide not to sell a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 709pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">real estate asset previously classified as held for sale, the real estate asset is reclassified as held for investment. Upon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 720.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">reclassification, the real estate asset is measured at the lower of (i) its carrying amount prior to classification as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">sale, adjusted for depreciation expense that would have been recognized had the real estate been classified as held for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.05pt">investment, and (ii) its estimated fair value at the time of reclassification.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock', window );">Agency Multifamily Lending Partnership</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 176.8pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 136pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">In the second quarter of 2024, we entered into an agreement with M&amp;T Realty Capital Corporation, or MTRCC, a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">subsidiary of M&amp;T Bank, that allows our borrowers to access multifamily agency financing through MTRCC&#8217;s Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 159pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 250.2pt">Mae DUS and Freddie Mac Optigo lending platforms, or the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 308.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.37pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.42pt">. We will receive a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 170.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">portion of origination, servicing, and other fees for loans that we refer to MTRCC for origination under both the Fannie<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Mae and Freddie Mac programs. Additionally, we will share in losses with MTRCC and Fannie Mae on loans that we refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 234.5pt">to MTRCC for origination under the Fannie Mae program.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 223pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.59pt">Revenue Recognition<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 240.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">For loans that we refer to MTRCC for origination under both the Fannie Mae and Freddie Mac programs, we recognize our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 252pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">allocable portion of origination, servicing, and other fees in other income when we have satisfied our performance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">obligations in accordance with the &#8220;Revenue from Contracts with Customers&#8221; Topic of the FASB, or ASC 606. Our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">performance obligations are generally satisfied when the loan is referred by us to MTRCC and subsequently originated and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">sold under the Fannie Mae and Freddie Mac programs. A portion of the fees recognized, such as servicing fees, are variable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.21pt">and will be reevaluated for collectability on a recurring basis.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.71000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 327.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: italic; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.02pt">Loss-sharing Obligation<span style="display: inline-block; height: 6.94pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 345pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Pursuant to our agreement with MTRCC, we are subject to a loss-sharing obligation with respect to MTRCC&#8217;s obligation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">to partially guarantee the performance of loans that they originate and sell under the Fannie Mae program. This loss-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 368pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">sharing agreement requires us to fund a fixed amount of cash into a segregated account based on the amount MTRCC is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 379.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.55pt">required to fund under the Fannie Mae program, with respect to loans we referred to MTRCC.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">In addition, we will recognize a liability for these loss-sharing obligations. This liability will be initially recognized at fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value with a corresponding expense at inception, and it will subsequently be amortized on a straight-line basis over the life<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div>of the loss-sharing obligation. This liability is included within other liabilities in our consolidated balance sheets.<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativesPolicyTextBlock', window );">Derivative Financial Instruments</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.54pt">Derivative Financial Instruments<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 200.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">We classify all derivative financial instruments as either other assets or other liabilities on our consolidated balance sheets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 519pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.19pt">at fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 108.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">On the date we enter into a derivative contract, we designate each contract as (i) a hedge of a net investment in a foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">operation, or net investment hedge, (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">or paid related to a recognized asset or liability, or cash flow hedge, (iii) a hedge of a recognized asset or liability, or fair<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">value hedge, or (iv) a derivative instrument not to be designated as a hedging derivative, or non-designated hedge. For all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">derivatives other than those designated as non-designated hedges, we formally document our hedge relationships and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 600pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">designation at the contract&#8217;s inception. This documentation includes the identification of the hedging instruments and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 611.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">hedged items, its risk management objectives, strategy for undertaking the hedge transaction and our evaluation of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 623pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.07pt">effectiveness of its hedged transaction.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 646.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">On a quarterly basis, we also formally assess whether the derivative we designated in each hedging relationship is expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 658pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">to be, and has been, highly effective in offsetting changes in the value or cash flows of the hedged items. If it is determined<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 681pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">changes in fair value of the instrument are included in net income prospectively. Our net investment hedges are assessed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">using a method based on changes in spot exchange rates. Gains and losses, representing hedge components excluded from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 704pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">the assessment of effectiveness, are recognized in interest income on our consolidated statements of operations over the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">contractual term of our net investment hedges on a systematic and rational basis, as documented at hedge inception in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 727pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">accordance with our accounting policy election. All other changes in the fair value of our derivative instruments that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">qualify as hedges are reported as a component of accumulated other comprehensive income (loss) on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">financial statements. Deferred gains and losses are reclassified out of accumulated other comprehensive income (loss) and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">into net income in the same period or periods during which the hedged transaction affects earnings, and are presented in the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">same line item as the earnings effect of the hedged item. For cash flow hedges, this is typically when the periodic swap<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">settlements are made, while for net investment hedges, this occurs when the hedged item is sold or substantially liquidated.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 111.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">To the extent a derivative does not qualify for hedge accounting and is deemed a non-designated hedge, the changes in its<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201.94pt">fair value are included in net income concurrently.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">Proceeds or payments from periodic settlements of derivative instruments are classified on our consolidated statement of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.66pt">cash flows in the same section as the underlying hedged item.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtPolicyTextBlock', window );">Secured Debt, Asset-Specific Debt, Term Loans, Senior Secured Notes, Convertible Notes and Deferred Financing Costs</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 160.97pt">Secured Debt and Asset-Specific Debt<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">We record investments financed with secured debt or asset-specific debt as separate assets and the related borrowings<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">under any secured debt or asset-specific debt are recorded as separate liabilities on our consolidated balance sheets. Interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 228pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">income earned on the investments and interest expense incurred on the secured debt or asset-specific debt are reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.9pt">separately on our consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.46pt">Term Loans<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 110.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 402.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">We record our term loans as liabilities on our consolidated balance sheets. Where applicable, any issue discount or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">transaction expenses are deferred and amortized through the maturity date of the term loans as additional non-cash interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.68pt">expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 455pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 91.02pt">Senior Secured Notes<span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">We record our senior secured notes as liabilities on our consolidated balance sheets. Where applicable, any issue discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 484pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">or transaction expenses are deferred and amortized through the maturity date of the senior secured notes as additional non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.82pt">cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 525pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.87pt">Convertible Notes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 542.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">Convertible note proceeds, unless issued with a substantial premium or an embedded conversion feature, are classified as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 554pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">debt. Additionally, shares issuable under our convertible notes are included in diluted earnings per share in our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 565.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">consolidated financial statements, if the effect is dilutive, using the if-converted method, regardless of settlement intent.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 577pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Where applicable, any issue discount or transaction expenses are deferred and amortized through the maturity date of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 588.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 229.43pt">convertible notes as additional non-cash interest expense.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 618pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.34pt">Deferred Financing Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 167.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 635.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The deferred financing costs that are included as a reduction in the net book value of the related liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 647pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">consolidated balance sheets include issuance and other costs related to our debt obligations. These costs are amortized as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.06pt">interest expense using the effective interest method over the life of the related obligations.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsPolicyTextBlock', window );">Loan Participations Sold</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 106.05pt">Loan Participations Sold<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">In certain instances, we have executed a syndication of a non-recourse loan interest to a third party. Depending on the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 298pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">particular structure of the syndication, the loan interest may remain on our GAAP balance sheet or, in other cases, the sale<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">will be recognized and the loan interest will no longer be included in our consolidated financial statements. When these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 321pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">sales are not recognized under GAAP we reflect the transaction by recording a loan participation sold liability on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">consolidated balance sheet, however this gross presentation does not impact stockholders&#8217; equity or net income. When the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 344pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">sales are recognized, our balance sheet only includes our remaining loan interest, and excludes the interest in the loan that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.31pt">we sold.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityPolicyTextBlock', window );">Underwriting Commissions and Offering Costs</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 201pt">Underwriting Commissions and Offering Costs<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 259.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 705.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Underwriting commissions and offering costs incurred in connection with common stock offerings are reflected as a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 717pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">reduction of additional paid-in capital. Costs incurred that are not directly associated with the completion of a common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.59pt">stock offering are expensed when incurred.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueOfFinancialInstrumentsPolicy', window );">Fair Value Measurements</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.99pt">Fair Value Measurements<span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 244.91pt">The &#8220;Fair Value Measurements and Disclosures&#8221; Topic o<span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.94pt"><span style="background-color: inherit">f the FASB, or ASC 820, defines fair value, establishes a</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt"><span style="background-color: inherit">framework for measuring fair value, and requires certain disclosures about fair value measurements under GAAP.</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt"><span style="background-color: inherit">Specifically, this guidance defines fair value based on exit price, or the price that would be received upon the sale of an</span><span style="display: inline-block; height: 6.93pt"></span></span><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"><span style="background-color: inherit"> </span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="background-color: #ffffff; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 446.02pt"><span style="background-color: inherit">asset or the transfer of a liability in an orderly transaction between market participants at the measurement date.</span><span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">ASC 820 also establishes a fair value hierarchy that prioritizes and ranks the level of market price observability used in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 141pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">measuring financial instruments. Market price observability is affected by a number of factors, including the type of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">financial instrument, the characteristics specific to the financial instrument, and the state of the marketplace, including the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">existence and transparency of transactions between market participants. Financial instruments with readily available quoted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.7pt">used in measuring fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 174.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.85pt">Financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 222pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.83pt">used in the determination, as follows:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Level 1: Generally includes only unadjusted quoted prices that are available in active markets for identical<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 251pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 181.16pt">financial instruments as of the reporting date.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 275.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Level 2: Pricing inputs include quoted prices in active markets for similar instruments, quoted prices in less active<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">or inactive markets for identical or similar instruments where multiple price quotes can be obtained, and other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 333.76pt">observable inputs, such as interest rates, yield curves, credit risks, and default rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 428.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 309pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">Level 3: Pricing inputs are unobservable for the financial instruments and include situations where there is little, if<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 320.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">any, market activity for the financial instrument. These inputs require significant judgment or estimation by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.93pt">management of third parties when determining fair value and generally represent anything that does not meet the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 343.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 102.64pt">criteria of Levels 1 and 2.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">Certain of our other assets are reported at fair value, as of quarter-end, either (i) on a recurring basis or (ii) on a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.82pt">nonrecurring basis, as a result of impairment or other events. Our assets that are recorded at fair value are discussed further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 390pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.34pt">in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 69.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.99pt">Note 19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 102.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 450.67pt">. We generally value our assets recorded at fair value by either (i) discounting expected cash flows based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">assumptions regarding the collection of principal and interest and estimated market rates, or (ii) obtaining assessments from<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">third parties. For collateral-dependent loans that are identified as impaired, we measure impairment by comparing our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">estimation of the fair value of the underlying collateral, less costs to sell, to the book value of the respective loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">valuations require significant judgments, which include assumptions regarding capitalization rates, discount rates, leasing,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">creditworthiness of major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 459pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 137.35pt">of other lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 351.26pt">We have elected the FVO for one of our investments in an unconsolidated entity, our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 409.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.12pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 494pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">and therefore report this investment at fair value. Given the fair value of this investment is not readily determinable, the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 505.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 222.73pt">asset value of the entity is used as a practical expedient.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 529pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.94pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.72pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 168.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 95.58pt">, we had an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.1pt">$505.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 323.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.58pt"> asset-specific CECL reserve related to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 489.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">12<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 54pt"> of our loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 540.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 219.2pt">receivable with an aggregate amortized cost basis of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 277.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.06pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 324.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.68pt">, net of cost-recovery proceeds. The CECL reserve was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 552pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 411.01pt">recorded based on our estimation of the fair value of the loans' aggregate underlying collateral as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.46pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 563.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">These loans receivable are therefore measured at fair value on a nonrecurring basis using significant unobservable inputs,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 575pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">and are classified as Level 3 assets in the fair value hierarchy. We estimated the fair value of the collateral underlying the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 586.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">loans receivable by considering a variety of inputs including property performance, market data, and comparable sales, as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 598pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">applicable. The significant unobservable inputs employed include the exit capitalization rate assumption used to forecast<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 609.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 317.52pt">the future sale price of the underlying real estate collateral, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">6.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 401.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.97pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.82pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">8.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 112.78pt">, and the unlevered discount<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 621pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 146.52pt">rate assumption, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 205.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">7.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">15.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 274.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 644.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.08pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 106.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.05pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 184.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.78pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.78pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.35pt">, we acquired legal title or otherwise consolidated <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 482.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.96pt">three<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.84pt"> REO assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 656pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.89pt">through <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.47pt">deed-in-lieu of foreclosure transactions or loan modifications that resulted in us consolidating the collateral assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 667.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">At the time of each acquisition, we determined the fair value of each real estate asset based on a variety of inputs including,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 679pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">but not limited to, estimated cash flow projections, leasing assumptions, required capital expenditures, market data, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 690.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">comparable sales. The REO assets were measured at fair value on a nonrecurring basis using significant unobservable<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 702pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">inputs and are classified as Level 3 assets in the fair value hierarchy. The significant unobservable inputs employed include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 713.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.07pt">(i) the exit capitalization rate assumption used to forecast the future sale price of the assets, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.5699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">6.00%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.96pt"> to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">8.55%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 84.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.96pt">, and (ii) the unlevered discount rate assumptions, which ranged from <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">7.75%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 393.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.31pt"> to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 406.43pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.83pt">10.55%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.76pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 478.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.08pt">Notes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">4<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.97pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">19<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 539.0699999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt"> for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.36pt">further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">We are also required by GAAP to disclose fair value information about financial instruments, which are not otherwise<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reported at fair value in our consolidated balance sheet, to the extent it is practicable to estimate a fair value for those<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459.68pt">instruments. These disclosure requirements exclude certain financial instruments and all non-financial instruments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.1800000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">The following methods and assumptions are used to estimate the fair value of each class of financial instruments, for which<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 151.39pt">it is practicable to estimate that value:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 209.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.77pt">Cash and cash equivalents: The carrying amount of cash and cash equivalents approximates fair value.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 504.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 182pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Loans receivable, net: The fair values of these loans were estimated using a discounted cash flow methodology,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 193.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">taking into consideration various factors including capitalization rates, discount rates, leasing, credit worthiness of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.89pt">major tenants, occupancy rates, availability and cost of financing, exit plan, loan sponsorship, actions of other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 103.49pt">lenders, and other factors.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 234pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.99pt">Derivative financial instruments: The fair value of our foreign currency and interest rate contracts was estimated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 245.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">using advice from a third-party derivative specialist, based on contractual cash flows and observable inputs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 257pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 212.25pt">comprising foreign currency rates and credit spreads.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.92pt">Secured debt, net: The fair value of these instruments was estimated based on the rate at which a similar credit<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 286pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 136.21pt">facility would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.94pt">Securitized debt obligations, net: The fair value of these instruments was estimated by utilizing third-party pricing<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 315pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.88pt">service providers. In determining the value of a particular investment, pricing service providers may use broker-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.96pt">dealer quotations, reported trades, or valuation estimates from their internal pricing models to determine the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 338pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.25pt">reported price.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 355.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.95pt">Asset-specific debt, net: The fair value of these instruments was estimated based on the rate at which a similar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 367pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.53pt">agreement would currently be priced.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.84pt">Loan participations sold, net: The fair value of these instruments was estimated based on the value of the related<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.13pt">loan receivable asset.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 413.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.97pt">Term loans, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 425pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 436.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 448pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 459pt">Senior secured notes, net: The fair value of these instruments was estimated by utilizing third-party pricing service<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.91pt">providers. In determining the value of a particular investment, pricing service providers may use broker-dealer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.9pt">quotations, reported trades, or valuation estimates from their internal pricing models to determine the reported<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.46pt">price.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.96000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 517.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 76.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.5pt">&#8226;<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 458.85pt">Convertible notes, net: Each series of the convertible notes is actively traded and their fair values were obtained<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 94.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.44pt">using quoted market prices.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income Taxes</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.12pt">Income Taxes<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 117.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">Our financial results generally do not reflect provisions for current or deferred income taxes on our REIT taxable income.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">We believe that we operate in a manner that will continue to allow us to be taxed as a REIT and, as a result, we generally<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.81pt">do not expect to pay substantial corporate level taxes other than those payable by our taxable REIT subsidiaries. If we were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">to fail to meet these requirements, we may be subject to federal, state, and local income tax on current and past income, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.44pt">penalties. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 17<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy', window );">Stock-Based Compensation</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.9pt">Stock-Based Compensation<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 175.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">Our stock-based compensation consists of awards issued to our Manager, certain individuals employed by an affiliate of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">our Manager, and certain members of our board of directors that vest over the life of the awards, as well as deferred stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">units issued to certain members of our board of directors. Stock-based compensation expense is recognized for these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">awards in net income on a variable basis over the applicable vesting period of the awards, based on the value of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 98.51pt">common stock. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 157.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 18<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 188.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings per Share</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.27pt">Earnings per Share<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 141.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 71.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Basic earnings per share, or Basic EPS, is computed in accordance with the two-class method and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">earnings allocable to our class A common stock, including restricted class A common stock and deferred stock units,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">divided by (ii) the weighted-average number of shares of our class A common stock, including restricted class A common<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">stock and deferred stock units outstanding during the period. Our restricted class A common stock is considered a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 117.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">participating security, as defined by GAAP, and has been included in our Basic EPS under the two-class method as these<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 129pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">restricted shares have the same rights as our other shares of class A common stock, including participating in any gains or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 140.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.37pt">losses.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 164pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">Diluted earnings per share, or Diluted EPS, is determined using the if-converted method, and is based on (i) the net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 175.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">earnings, adjusted for interest expense incurred on our convertible notes during the relevant period, net of incentive fees,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 187pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">allocable to our class A common stock, including restricted class A common stock and deferred stock units, divided by (ii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 198.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.84pt">the weighted-average number of shares of our class A common stock, including restricted class A common stock, deferred<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 210pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.98pt">stock units, and shares of class A common stock issuable under our convertible notes. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.97pt">Note 15<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 505.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.95pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.16pt">discussion of earnings per share.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign Currency</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.85pt">Foreign Currency<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 135.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">In the normal course of business, we enter into transactions not denominated in United States, or U.S., dollars. Foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 280pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">exchange gains and losses arising on such transactions are recorded as a gain or loss in our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">operations. In addition, we consolidate entities that have a non-U.S. dollar functional currency. Non-U.S. dollar<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 303pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">denominated assets and liabilities are translated to U.S. dollars at the exchange rate prevailing at the reporting date and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">income, expenses, gains, and losses are translated at the average exchange rate over the applicable period. Cumulative<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 326pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">translation adjustments arising from the translation of non-U.S. dollar denominated subsidiaries are recorded in other<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 119.59pt">comprehensive income (loss).<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent Accounting Pronouncements</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.87pt">Recent Accounting Pronouncements<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 213.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.77pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 384.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">In July 2025, the FASB issued Accounting Standards Update, or ASU, 2025-05, which amends the guidance in ASC 326,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 396pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">Financial Instruments&#8212;Credit Losses. This update provides a practical expedient related to the estimation of expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 407.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 419pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">ASC 606. The amendment notes that in developing reasonable and supportable forecasts as part of estimating expected<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 430.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">credit losses, all entities may elect a practical expedient that assumes that current conditions as of the balance sheet date do<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 442pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">not change for the remaining life of the asset. ASU 2025-05 is effective for annual periods beginning after December 15,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 453.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">2025, including interim periods within those annual periods, and early adoption is permitted. We have not early adopted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 465pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">ASU 2025-05 and do not expect the adoption of ASU 2025-05 to have a material impact on our consolidated financial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 476.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 275.87pt">statements. We recognize revenue under ASC 606 pursuant to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 334.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 168.42pt">Agency Multifamily Lending Partnership<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 502.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.67pt"> and income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 130.71pt">from our hospitality REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">In May 2025, the FASB issued ASU 2025-03, which amends the guidance in ASC 805, Business Combinations. This<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">update clarifies the determination of the accounting acquirer in business combinations that are primarily effected through<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">the exchange of equity interests and involve the acquisition of a VIE. Specifically, entities are now required to consider the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">factors outlined in ASC 805-10-55-12 through 55-15 when determining the accounting acquirer, rather than defaulting to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">the primary beneficiary of the VIE as the accounting acquirer. ASU 2025-03 is effective for annual periods beginning after<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">December 15, 2026, including interim periods within those annual periods, and early adoption is permitted. We have not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 580.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.96pt">early adopted ASU 2025-03 and do not expect the adoption of ASU 2025-03 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 592pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">In November 2024, the FASB issued ASU 2024-04 &#8220;Debt with Conversion and Other Options (Subtopic 470-20): Induced<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 627pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.92pt">Conversions of Convertible Debt Instruments,&#8221; or ASU 2024-04. ASU 2024-04 clarifies the accounting treatment for<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 638.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">settlement of a convertible debt instrument as an induced conversion. ASU 2024-04 is effective on a prospective basis,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 650pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">with the option for retrospective application, for fiscal years beginning after December 15, 2025. We have not early<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 661.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">adopted ASU 2024-04 and do not expect the adoption of ASU 2024-04 to have a material impact on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 673pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.08pt">financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 696.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">In November 2024, the FASB issued ASU 2024-03 &#8220;Expense Disaggregation Disclosures (Subtopic 220-40):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 708pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Disaggregation of Income Statement Expenses,&#8221; or ASU 2024-03. ASU 2024-03 requires disclosures in the notes to the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 719.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.97pt">financial statements on specified information about certain costs and expenses for each interim and annual reporting period.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">ASU 2024-03 is effective on either a prospective basis, with the option for retrospective application, for annual periods<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027, and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.83pt">early adoption is permitted. We have not early adopted ASU 2024-03 and do not expect the adoption of ASU 2024-03 to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 88.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 256.56pt">have a material impact on our consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">In December 2023, the FASB issued ASU 2023-09 &#8220;Income Taxes (Topic 740): Improvements to Income Tax<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 123.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">Disclosures,&#8221; or ASU 2023-09. ASU 2023-09 requires additional disaggregated disclosures on an entity&#8217;s effective tax rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">reconciliation and additional details on income taxes paid. ASU 2023-09 is effective on a prospective basis, with the option<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 146.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">for retrospective application, for annual periods beginning after December 15, 2024 and early adoption is permitted. We<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.93pt">have not early adopted ASU 2023-09 and do not expect the adoption of ASU 2023-09 to have a material impact on our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 135.07pt">consolidated financial statements.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan participations.</p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Policy</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConsolidationPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.M.2.Q4)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483530/326-20-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-14<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 30<br> -Paragraph 5A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479391/326-20-30-5A<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479366/326-20-35-8A<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3D<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3D<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-5<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 30<br> -Paragraph 1B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479175/326-30-30-1B<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479106/326-30-50-3C<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479106/326-30-50-3A<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3D<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479106/326-30-50-3D<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 13A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479148/326-30-35-13A<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 30<br> -Paragraph 4A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479391/326-20-30-4A<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 7A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479148/326-30-35-7A<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-21<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-11<br><br>Reference 17: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479106/326-30-50-7<br><br>Reference 18: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 17<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-17<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditLossFinancialInstrumentPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy related to debt. Includes, but is not limited to, debt issuance costs, the effects of refinancings, method of amortizing debt issuance costs and original issue discount, and classifications of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 470<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for its derivative instruments and hedging activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479693/815-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-7<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4F<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/815/tableOfContent<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(n))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueOfFinancialInstrumentsPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for determining the fair value of financial instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueOfFinancialInstrumentsPolicy</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinanceLoansAndLeasesReceivablePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for financing receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481569/310-20-50-4<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-2<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481569/310-20-50-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481569/310-20-50-1<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinanceLoansAndLeasesReceivablePolicy</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/830/tableOfContent<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-20<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 19<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-19<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482525/740-10-45-25<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(h)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482525/740-10-45-28<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue from contract with customer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 17<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-17<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 19<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-19<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-18<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-18<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-20<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-20<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-20<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-20<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -SubTopic 10<br> -Topic 235<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Topic 606<br> -Publisher FASB<br> -URI https://asc.fasb.org/606/tableOfContent<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognition of interest revenue. Disclosure may include the method of recognizing interest income on loan and trade receivables, the method of amortizing premiums or accreting discounts, and a statement about the policy for the treatment of related fees and costs, including the method of amortizing net deferred fees and costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for its capital stock transactions, including dividends and accumulated other comprehensive income.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ReceivablesAbstract', window );"><strong>Receivables [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OverallStatisticsForLoansReceivablesPortfolioTableTextBlock', window );">Overall Statistics for Loans Receivable Portfolio</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 378.71pt">The following table details overall statistics for our loans receivable portfolio ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 234pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 333.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Number of loans<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)">137<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 51.39pt"></span></span><span style="left: 54.02pt; position: var(--position)">130<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Principal balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.89pt"></span></span><span style="left: 27.02pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 119.17999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)">1,532,429<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 24.39pt"></span></span><span style="left: 31.52pt; position: var(--position)">1,263,068<span style="display: inline-block; height: 6.24pt; width: 10.48pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average cash coupon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 128.02pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.24<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.46<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average all-in yield<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 121.88pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.46<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 44.45pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt"></span></span><span style="left: 44.45pt; position: var(--position)">+ 3.78<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span><span style="left: 70.51pt; position: var(--position)">%<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 333.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 333.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Weighted-average maximum maturity (years)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 185.43pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333.75pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre">2.4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 58.87pt; position: var(--position); text-decoration: none; white-space: pre">2.1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 356.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 366.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Unfunded commitments will primarily be funded to finance our borrowers&#8217; construction or development of real<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 378.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">estate-related assets, capital improvements of existing assets, or lease-related expenditures. These commitments will<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 389.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 370.05pt">generally be funded over the term of each loan, subject in certain cases to an expiration date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 401.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The weighted-average cash coupon and all-in yield are expressed as a spread over the relevant floating benchmark<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 412.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.04pt">rates, which include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt"><span style="-sec-ix-hidden:f-600"><span style="-sec-ix-hidden:f-601">SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.54000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.16pt">, SONIA, EURIBOR, CORRA, and other indices, as applicable to each loan. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 529.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.73pt">As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 424.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 167.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.79pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 173.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">98%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 361.96pt"> of our loans by principal balance earned a floating rate of interest, primarily indexed to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 435.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 25pt">SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 110.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.03pt">. The remaining <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 176.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 13.33pt">2%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 189.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 282.44pt"> of our loans by principal balance earned a fixed rate of interest. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 472.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.8399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 447.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.16pt">substantially all of our loans by principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.28pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 290.94pt; position: var(--position); text-decoration: none; white-space: pre; width: 262.5pt">earned a floating rate of interest, primarily indexed to SOFR. In<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 470.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.48pt">origination costs, and purchase discounts, as well as the accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 391.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 394.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 158.67pt">Excludes loans accounted for under the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 481.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.01pt">cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 267.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 493.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 504.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.41pt">prior to such date. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.67pt">Excludes loans accounted for under the cost-recovery and nonaccrual methods, if any<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 29.82pt">. As of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 516.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.51pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">31%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 362.8pt"> of our loans by principal balance were subject to yield maintenance or other prepayment<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 527.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.33pt">restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">69%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.26pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 172.42000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.34pt">were open to repayment by the borrower without penalty. As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.06pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.8199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.76pt">, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 523.5799999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">10%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 541.9100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.59pt"> of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 539.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 426.49pt">our loans by principal balance were subject to yield maintenance or other prepayment restrictions and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 511.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">90%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 530.3199999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.1pt"> were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 208.13pt">open to repayment by the borrower without penalty.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DisclosureDetailsOfLoanReceivablePortfolioBasedOnFloorRateTableTextBlock', window );">Disclosure Details Of Loan Receivable Portfolio Based On Index Floor Rates</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 384.15pt">The following table details the index rate floors for our loans receivable portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.94pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 527.5899999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.82pt"> ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 261.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 261.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 0pt; width: 229.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 229.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.58pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable Principal Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Index Rate Floors<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 13.54pt; position: var(--position); white-space: pre">Non-USD<span style="display: inline-block; height: 6.77pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 54.65pt; position: var(--position); top: -2.3694999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.4005pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 25.74pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">180,857<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">137,149<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.04pt"></span></span><span style="left: 37.67pt; position: var(--position)">318,006<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">0.00% or no floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 73.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,796,816<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">4,966,038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 42pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">6,762,854<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">0.01% to 1.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">2,628,392<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">972,584<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 57pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,600,976<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">1.01% to 2.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">676,479<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,371,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 72pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">2,048,164<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2.01% to 3.00% floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,791,304<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">139,838<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 87pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">3,931,142<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">3.01% or more floor<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,313,773<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.12pt; position: var(--position); text-decoration: none; white-space: pre">213,619<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 102pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 31.62pt; position: var(--position); text-decoration: none; white-space: pre">1,527,392<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117pt; width: 261.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 261.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 23.7pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)">10,387,621<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 343.5pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.54pt"></span></span><span style="left: 30.169999999999998pt; position: var(--position)">7,800,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 117pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 17.54pt"></span></span><span style="left: 25.169999999999998pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 226pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 235.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 424.85pt">Includes Euro, British Pound Sterling, Swedish Krona, Australian Dollar, and Canadian Dollar currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 247pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 110.41pt">Includes all impaired loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.76pt">As of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 113.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.54pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 356.68pt">, the weighted-average index rate floor of our floating-rate loans receivable principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 270pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.47pt">balance was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.97pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.68pt">. Excluding 0.0% index rate floors and loans with no floor, the weighted-average index rate floor<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 281.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.04pt">was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">1.90%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 129.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ActivityInLoansReceivableTableTextBlock', window );">Activity Relating to Loans Receivable Portfolio</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 327.43pt">Activity relating to our loans receivable portfolio was as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 328.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 278.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 278.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.11pt; position: var(--position); white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.33pt; position: var(--position); white-space: pre">Balance<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 48.42pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.91pt; position: var(--position); white-space: pre">Deferred Fees /<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.09pt; position: var(--position); white-space: pre">Other Items<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 52.599999999999994pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19pt; position: var(--position); white-space: pre">Net Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 69.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.88pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 44.86pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(155,608)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 21.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan fundings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">3,931,823<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 36.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">3,931,823<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loan repayments, sales, and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(5,048,125)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(39,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 51.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(5,087,549)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(208,010)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">79,018<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 66.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(128,992)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Transfer to real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(358,088)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(358,088)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Transfer to other assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 130.14pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(49,158)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 96.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(49,158)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Payment-in-kind interest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">13,448<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 111.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">13,448<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Unrealized gain (loss) on foreign currency translation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">703,518<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.96pt; position: var(--position); text-decoration: none; white-space: pre">(2,275)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 126.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">701,243<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Deferred fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(48,716)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 141.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(48,716)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Amortization of fees and other items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 57.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">45,390<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 156.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">45,390<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 100.55pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 278.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(121,615)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 171.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 186.75pt; width: 278.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 186.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 201.75pt; width: 278.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 278.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loans Receivable, net, as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 117.75pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 201.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.04pt"></span></span><span style="left: 20.669999999999998pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 550.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 133.33pt">Other items primarily consist of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 334.64pt">purchase and sale discounts or premiums, exit fees, deferred origination expenses,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 573.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 109.31pt">and cost-recovery proceeds<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">This amount relates to intangible and other assets recorded in connection with loans that were transferred to REO,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 596.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 175.39pt">net of liabilities recorded upon acquisition, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 260.89pt; position: var(--position); text-decoration: none; white-space: pre; width: 8.84pt">if <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 283.66pt">any, and proceeds from loan repayments that are held in escrow, all of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 313.78pt">which are included within other assets in our consolidated balance sheets. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 399.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_TypesOfLoansInPortfolioTableTextBlock', window );">Property Type and Geographic Distribution of Properties Securing Loans in Portfolio</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 482.25pt">The tables below detail the property type and geographic distribution of the properties securing the loans in our portfolio<span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 77pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"></td></tr><tr style="height: 13.5pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.87pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 13.5pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 13.5pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 13.5pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 13.5pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 35.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 35.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">42<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">5,489,331<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 35.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,845,825<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 35.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">29%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 49.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">47<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,432,183<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,289,958<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">25<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 63.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,561,323<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 63.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,524,478<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 63.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 78pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,096,519<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 78pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,994,080<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 78pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 92.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">769,377<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 92.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">676,140<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 92.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 106.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Self-storage<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 106.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">653,016<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 106.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">488,715<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 106.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 121.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences / Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 121.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">341,730<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 121.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">290,881<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 121.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 135.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 135.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">723,440<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 135.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">683,661<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 135.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 150pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 150pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 150pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 164.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 164.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 178.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 178.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 11.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 204pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 204pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.9pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 69.61pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 204pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 204pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 225.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 225.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 225.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 225.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 240pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 240pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">45<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,203,737<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 240pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">3,727,255<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 240pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">22%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 254.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 254.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,768,431<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 254.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,431,400<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 254.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 268.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 268.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">23<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,957,019<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 268.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,873,533<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 268.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 282.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 282.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">855,704<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 282.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">713,354<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 282.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 297pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 297pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">448,599<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 297pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">446,752<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 297pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 311.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 311.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">102<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">10,233,490<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 311.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">9,192,294<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 311.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">54<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 325.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 339.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 339.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,128,895<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 339.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,114,230<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 339.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">19<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 354pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 354pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,197,444<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 354pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,190,045<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 354pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 368.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 368.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,107,136<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 368.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,114,282<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 368.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 382.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 382.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">643,117<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 382.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">595,013<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 382.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 396.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">505,298<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 396.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">504,853<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Canada<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 411pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">448,994<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">284,952<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 425.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 425.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">741,582<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 425.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">737,162<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 425.25pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 439.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 439.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 439.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,907<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 439.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 454.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 454.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.87pt; position: var(--position); text-decoration: none; white-space: pre">35<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">7,833,429<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 454.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">7,601,444<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 454.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 468.75pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153pt; position: var(--position); top: 468.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 314.25pt; position: var(--position); top: 468.75pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 468.75pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 483pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 483pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(695,719)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 497.25pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 497.25pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); top: 593.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 61pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 605pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 615.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 626pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 297.83pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 383.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.95pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 443.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 449.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 104pt">Our asset-specific debt is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 636.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.42pt">structurally non-recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 66.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 85.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 92.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="9" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 12.75pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 12.75pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">41<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">7,386,333<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 34.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">5,729,418<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 34.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">33%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 49.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">50<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">5,091,767<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 49.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,934,364<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 49.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">29<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 64.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,768,374<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 64.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,663,349<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 64.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Industrial<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 79.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,030,627<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 79.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,000,831<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 79.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Retail<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 94.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">555,553<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 94.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">532,069<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 94.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Life Sciences/Studio<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 109.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">342,817<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 109.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">337,687<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 109.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 124.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">872,047<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 124.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">836,585<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 124.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 139.5pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 139.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 139.5pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 154.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.96pt"></span></span><span style="left: 45.59pt; position: var(--position)">(733,936)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 169.5pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 9.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 194.25pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Geographic Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 194.25pt; width: 66.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.4pt; position: var(--position); text-decoration: none; white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.88pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 194.25pt; width: 85.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 85.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.63pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 72.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 194.25pt; width: 92.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.04pt; position: var(--position); text-decoration: none; white-space: pre">Net Loan Exposure <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.83pt; position: var(--position); text-decoration: none; white-space: pre">Percentage of Portfolio<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 216pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">United States<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 216pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 216pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 216pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 231pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sunbelt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 231pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">44<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,520,632<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 231pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.79pt"></span></span><span style="left: 41.42pt; position: var(--position)">4,084,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 231pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.9pt; position: var(--position); text-decoration: none; white-space: pre">24%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 246pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northeast<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 246pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">4,614,582<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 246pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">3,452,961<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 246pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 261pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">West<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 261pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,865,382<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 261pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,746,309<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 261pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 276pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Midwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 276pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">997,156<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 276pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">820,858<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 276pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 291pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Northwest<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 291pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">432,644<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 291pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">432,794<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 291pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 306pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 306pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 25.87pt; position: var(--position); text-decoration: none; white-space: pre">100<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">12,430,396<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 306pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">10,537,164<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 306pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">62<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 321pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 336pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">United Kingdom<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 336pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">16<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,916,145<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 336pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">2,839,096<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 336pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Ireland<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 351pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,050,276<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 351pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">1,048,329<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 351pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Australia<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 366pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">920,182<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 366pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">923,507<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 366pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 381pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Spain<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 381pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">785,368<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 381pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">744,287<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 381pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 396pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Sweden<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 396pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">429,084<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 396pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">429,724<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 396pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 411pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other Europe<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 411pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">455,417<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 411pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 50.37pt; position: var(--position); text-decoration: none; white-space: pre">451,245<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 411pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.62pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 426pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Other International<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 426pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.87pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,650<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 426pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.37pt; position: var(--position); text-decoration: none; white-space: pre">60,951<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 426pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 441pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.37pt; position: var(--position); text-decoration: none; white-space: pre">30<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">6,617,122<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 441pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 42.87pt; position: var(--position); text-decoration: none; white-space: pre">6,497,139<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 441pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.12pt; position: var(--position); text-decoration: none; white-space: pre">38<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 456pt; width: 66.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 66.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 26.81pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 313.5pt; position: var(--position); top: 456pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 402.75pt; position: var(--position); top: 456pt; width: 92.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 92.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 35.4pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 471pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 471pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.71pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 486pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 224.25pt; position: var(--position); top: 486pt; width: 85.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 85.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.79pt"></span></span><span style="left: 36.42pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 560pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.22pt">N<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.63pt">et loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">December&#160;31,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 583pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.07pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.57pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.27pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.84000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 107.47pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 426.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.04pt">$106.7 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 485.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.08pt"> of cost-recovery<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 594.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 5pt">p<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 90.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 238.59pt">roceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 329.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$733.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 389.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 42.94pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.21pt">$100.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.86pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 496.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.12pt">of junior loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 606pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 373.51pt">interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 22.62pt">. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 481.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.27pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 508.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.55pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 617.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">discussion of loan participations sold. Our asset-specific debt and loan participations sold are structurally non-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 629pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.1pt">recourse and term-matched to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock', window );">Net Book Value, Total Loan Exposure and Net Loan Exposure of Loans Receivable Based on Internal Risk Ratings and Credit Quality Indicators</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table allocates the net book value and net loan exposure balances based on our internal risk ratings ($ in<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.08pt">thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 163.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 140.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); text-decoration: none; white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 25.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 37.87pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 25.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">408,355<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,173,245<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 39.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,007,691<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">80<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre">10,578,120<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 54pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 86.62pt; position: var(--position); text-decoration: none; white-space: pre">10,087,715<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 68.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 68.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,732,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 68.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,619,771<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 82.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 82.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 97.87pt; position: var(--position); text-decoration: none; white-space: pre">670,206<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 96.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre">137<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 96.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">16,793,738<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 111pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 125.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 125.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 6pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 145.5pt; width: 347.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 347.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 141.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 158.25pt; width: 144pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 144pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 51.68pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 158.25pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.15pt; position: var(--position); white-space: pre">Number of Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.01pt; position: var(--position); white-space: pre">Net Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 158.25pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 129.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 28.76pt; position: var(--position); white-space: pre">Net Loan Exposure<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 94.93pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 171pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">11<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 82.88pt"></span></span><span style="left: 90.00999999999999pt; position: var(--position)">1,919,280<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 171pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 89.63pt"></span></span><span style="left: 96.75999999999999pt; position: var(--position)">994,056<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 185.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">21<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,346,881<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 185.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">3,349,347<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 199.5pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">65<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">9,246,692<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 199.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">8,818,346<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 213.75pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">20<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,707,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 213.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">2,622,877<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 69.75pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 228pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 35.62pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 228pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.12pt; position: var(--position); text-decoration: none; white-space: pre">1,249,677<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 242.25pt; width: 80.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.37pt; position: var(--position); text-decoration: none; white-space: pre">130<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 365.25pt; position: var(--position); top: 242.25pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">17,034,303<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 256.5pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 91.89pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 144pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 144pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 231.75pt; position: var(--position); top: 270.75pt; width: 129.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 78.38pt"></span></span><span style="left: 85.50999999999999pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 453.7pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.17pt">Net loan exposure reflects the amount of each loan that is subject to risk of credit loss to us as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.72pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 475.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.66pt">, which is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 286.15999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.55pt">$629.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 115.02pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 461.73pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.55pt">$69.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 517.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.15pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 290.68pt">recovery proceeds, and (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.3pt">$695.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.88pt">. Our net loan exposure as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 498.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.52pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 165.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 139.86pt"> is our principal balance net of (i) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 304.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.57pt">$1.2&#160;billion<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.97pt"> of asset-specific debt, (ii) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.34pt">$106.7&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 519.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 33.73pt"> of cost-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 509.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 272pt">recovery proceeds, (iii) our total loans receivable CECL reserve of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 357.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$733.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.82pt">, and (iv) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 456.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.17pt">$100.1 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 515.6600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.82pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 518.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 35.02pt">of junior<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 521.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 390.76pt">loan interests that we have sold, but that remain included in our consolidated financial statements<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 476.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.14pt">. Our asset-specific<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 532.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">debt and loan participations sold are structurally non-recourse and term-matched to the corresponding collateral<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 544.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.59pt">loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.87pt">Our primary credit quality indicator is our risk ratings, which are further discussed above. The following tables present the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.8pt">net book value of our loan portfolio as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.65pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 326.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.76pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 148.16pt">, respectively, by year of origination,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 196.5pt">investment pool, and risk rating ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 12.75pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 160.06pt; position: var(--position); text-decoration: none; white-space: pre">As of September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 25.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 38.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">203,721<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">53,901<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 52.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">33,314<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">197,274<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">724,262<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">262,235<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 66.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,278,048<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,147,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">273,014<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,630,283<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,883,767<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,837<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 81pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">5,626,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,098<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">338,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,115,549<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 95.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,820,751<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 109.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,180,517<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">333,977<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,346,232<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,149,854<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,123,522<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 123.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">9,134,102<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 138pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 152.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 152.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 166.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">645,481<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">592,528<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">657,188<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 166.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,895,197<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 180.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,752,443<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">936,536<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,102,590<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 180.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,791,569<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 195pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">363,689<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 195pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">363,689<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 209.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 40.13pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 209.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 223.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,397,924<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">592,528<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,593,724<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,466,279<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 223.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">6,050,455<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 237.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 252pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 252pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 266.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 266.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 280.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">869,443<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">291,004<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 280.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,160,447<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 294.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">547,763<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 294.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">547,763<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 309pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 309pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 323.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">869,443<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">838,767<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 323.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,708,210<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 351.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 351.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 366pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 366pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 380.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 380.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 394.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 394.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 408.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">168,985<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">433,385<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">571,782<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 408.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 423pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">168,985<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">433,385<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">571,782<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 423pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,174,152<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 437.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 451.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">203,721<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">53,901<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 451.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">409,199<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 465.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">678,795<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,963<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">789,802<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,381,450<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">262,235<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 465.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,173,245<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 480pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,899,646<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">273,014<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,499,726<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,820,303<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,085,431<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 480pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 12.37pt; position: var(--position); text-decoration: none; white-space: pre">10,578,120<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 494.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,098<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">338,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,027,001<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 494.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,732,203<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 508.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">168,985<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">433,385<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">571,782<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 508.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,174,152<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 522.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,578,441<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">333,977<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">3,977,188<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,176,963<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,000,350<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 522.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">18,066,919<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 537pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 537pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(695,719)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 551.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 551.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 579.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 33.39pt; position: var(--position); text-decoration: none; white-space: pre">(168)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(71,853)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(56,971)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 579.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(128,992)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 693.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 226.99pt">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 387.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 470.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 84.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 55.5pt"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 0pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 98.19pt; position: var(--position); white-space: pre">Net Book Value of Loans Receivable by Year of Origination<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 302.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="13" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 14.25pt; width: 406.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 406.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 161.17pt; position: var(--position); text-decoration: none; white-space: pre">As of December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 84.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.06pt; position: var(--position); white-space: pre">Risk Rating<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2023<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2022<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2021<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.75pt; position: var(--position); text-decoration: none; white-space: pre">2020<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.65pt; position: var(--position); text-decoration: none; white-space: pre">Prior<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 28.5pt; width: 55.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.64pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,674<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">245,289<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">60,240<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,381,858<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 57pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,839,061<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,651<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">197,153<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,611,856<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 71.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,869,660<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">268,408<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,599,604<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,160,837<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,097<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">392,470<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 85.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">5,112,416<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">236,780<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,019,672<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">726,513<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 99.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,982,965<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 114pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 128.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">329,059<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,185,211<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">5,037,654<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">751,337<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">2,500,841<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 128.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">10,804,102<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 142.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">80,219<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 156.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">80,219<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">500,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">787,660<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">87,629<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">101,828<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 171pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,477,221<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">594,740<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,126,698<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,332,805<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 185.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,054,243<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">198,389<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 199.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">198,389<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 213.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 213.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 228pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total Non-U.S. loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,094,844<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,994,577<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">87,629<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,633,022<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 228pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">4,810,072<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 242.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 256.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 256.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 270.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; 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position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 270.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 285pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">814,225<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">265,808<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 285pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,080,033<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 299.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">525,750<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 299.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">525,750<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 313.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 313.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 327.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unique loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">814,225<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">791,558<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 327.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,605,783<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 342pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 356.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 356.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 370.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 370.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 384.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 384.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 399pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 399pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 413.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">170,388<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,030<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">34,214<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,255,929<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 413.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 427.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total impaired loans<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">170,388<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">367,030<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">34,214<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,255,929<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 427.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,827,561<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 441.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 456pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">151,674<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">325,508<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 19.88pt"></span></span><span style="left: 27.009999999999998pt; position: var(--position)">60,240<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,381,858<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 456pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">1,919,280<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 470.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">60,651<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">697,257<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,399,516<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">87,629<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">101,828<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 470.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,346,881<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 484.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">268,408<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,008,569<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">3,287,535<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">691,097<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,991,083<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 484.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">9,246,692<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 498.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">236,780<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,019,672<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,450,652<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 498.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">2,707,104<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 513pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 40.12pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">170,388<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 23.62pt; position: var(--position); text-decoration: none; white-space: pre">367,030<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">34,214<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,255,929<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 513pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 16.87pt; position: var(--position); text-decoration: none; white-space: pre">1,827,561<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 527.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total loans receivable<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">329,059<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 35.63pt"></span></span><span style="left: 42.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">4,264,668<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">7,399,261<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 15.38pt"></span></span><span style="left: 22.509999999999998pt; position: var(--position)">873,180<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 8.63pt"></span></span><span style="left: 15.760000000000002pt; position: var(--position)">6,181,350<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 527.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">19,047,518<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 541.5pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">CECL reserve<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 541.5pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(733,936)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 555.75pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 555.75pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 4.13pt"></span></span><span style="left: 11.260000000000002pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 584.25pt; width: 84.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 84.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gross charge-offs<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 66.78999999999999pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 87.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 146.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(52,045)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 263.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 17.64pt; position: var(--position); text-decoration: none; white-space: pre">(255,005)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 321.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 43.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 380.25pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 22.14pt; position: var(--position); text-decoration: none; white-space: pre">(77,553)<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438.75pt; position: var(--position); top: 584.25pt; width: 55.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 55.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 12.39pt"></span></span><span style="left: 19.52pt; position: var(--position)">(384,603)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 2.43pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 669pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">Date loan was originated or acquired by us. Origination dates are subsequently updated to reflect material loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 57.43pt">modifications.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 692pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Represents charge-offs by year of origination during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 312.49pt; position: var(--position); text-decoration: none; white-space: pre">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.04pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 358.54pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.08pt; position: var(--position); text-decoration: none; white-space: pre">.<span style="display: inline-block; height: 6.93pt"></span></span></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock', window );">Schedule Of Current Expected Credit Loss Reserve By Pool</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.11pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 415.26pt">presents the activity in our loans receivable CECL reserve by investment pool for the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.76pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.61pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 158.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 216.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 216.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.05pt; position: var(--position); white-space: pre">U.S. Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.08pt; position: var(--position); text-decoration: none; white-space: pre">Non-U.S.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.19pt; position: var(--position); text-decoration: none; white-space: pre">Unique<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.64pt; position: var(--position); text-decoration: none; white-space: pre">Impaired<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre"> Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.52pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans Receivable, Net<span style="display: inline-block; height: 6.77pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">80,057<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">26,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">47,087<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">580,651<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 36.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">733,936<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">17,604<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">13,796<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">1,477<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">16,552<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 51.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">49,429<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(41,824)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 66.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(41,824)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">97,661<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">39,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">48,564<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">555,379<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 81.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">741,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(6,759)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.46pt; position: var(--position); text-decoration: none; white-space: pre">(1,568)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">4,249<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.12pt; position: var(--position); text-decoration: none; white-space: pre">48,445<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 96.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">44,367<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(45,057)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 111.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(45,057)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 126.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">90,902<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">38,369<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,813<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">558,767<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 126.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">740,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 141.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Increase (decrease) in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">5,134<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.12pt; position: var(--position); text-decoration: none; white-space: pre">3,302<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 28.96pt; position: var(--position); text-decoration: none; white-space: pre">(207)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(11,250)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 141.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(3,021)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 156.75pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40.62pt; position: var(--position); text-decoration: none; white-space: pre">&#8212;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.46pt; position: var(--position); text-decoration: none; white-space: pre">(42,111)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 156.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(42,111)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 171.75pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">96,036<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">41,671<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,606<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">505,406<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 171.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">695,719<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 202.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2023<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">78,335<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">31,560<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">49,371<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">417,670<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 202.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">576,936<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 217.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(3,807)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.21pt"></span></span><span style="left: 30.84pt; position: var(--position)">(770)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(5,918)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">245,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 217.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">235,447<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 232.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(61,013)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 232.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(61,013)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 247.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">March&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">74,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">30,790<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">43,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">602,599<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 247.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">751,370<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 262.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(11,997)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(2,639)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">423<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">169,318<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 262.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">155,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 277.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(12,537)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 277.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(12,537)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 292.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserves as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 104.9pt; position: var(--position); text-decoration: none; white-space: pre">June&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">62,531<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">28,151<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">43,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">759,380<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 292.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">893,938<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 307.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 37.63pt; position: var(--position); text-decoration: none; white-space: pre">(Decrease) increase in CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(9,584)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.71pt"></span></span><span style="left: 23.34pt; position: var(--position)">(1,916)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 24.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">4,424<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">141,186<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 307.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">134,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 322.5pt; width: 216.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 40pt; position: var(--position); text-decoration: none; white-space: pre">Charge-offs of CECL reserves<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(16,989)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 322.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 15.71pt"></span></span><span style="left: 18.34pt; position: var(--position)">(16,989)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 337.5pt; width: 216.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 216.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">CECL reserve as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 101.01pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 216.75pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">52,947<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">26,235<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">48,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 385.5pt; position: var(--position); top: 337.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">883,577<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; 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height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.35pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 121.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 14.43pt">one<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 136.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 230.56pt"> U.S. dollar-denominated loan that is located in Bermuda.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Activity In Loans Receivable Table [Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure Details Of Loan Receivable Portfolio Based On Floor Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Overall Statistics For Loans Receivables Portfolio [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Types Of Loans In Portfolio [Table Text Block]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of allowance for credit loss on financing receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Real Estate Owned, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetAcquisitionTableTextBlock', window );">Asset Acquisition</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.45pt">The following table<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 135pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.79pt">presents the REO assets that were acquired during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 354.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 152.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 125.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.1pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 47.52pt; position: var(--position); text-decoration: none; white-space: pre">Location<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 0pt; width: 125.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.65pt; position: var(--position); text-decoration: none; white-space: pre">Property Type<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.28pt; position: var(--position); text-decoration: none; white-space: pre">Acquisition Date Fair Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">February 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Chicago, IL<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 12.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 12.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">45,045<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Atlanta, GA<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 27.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 27.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">132,974<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">September 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 128.25pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">New York, NY<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 256.5pt; position: var(--position); top: 42.75pt; width: 125.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 125.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 42.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">228,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 57.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 66.04pt"></span></span><span style="left: 73.67pt; position: var(--position)">406,272<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureFinancialStatementsDisclosureTableTextBlock', window );">Real Estate Owned Assets</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 479.15pt">The following table presents the REO assets and liabilities included in our consolidated balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 259.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 334.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.06pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Building and building improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">555,879<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">410,546<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Land and land improvements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">402,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">181,083<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">958,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">591,629<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated depreciation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.96pt; position: var(--position); text-decoration: none; white-space: pre">(24,492)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.96pt; position: var(--position); text-decoration: none; white-space: pre">(3,444)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">933,635<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">588,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">130,099<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">83,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.21pt"></span></span><span style="left: 43.84pt; position: var(--position)">(33,427)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.21pt"></span></span><span style="left: 48.84pt; position: var(--position)">(5,964)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate assets, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 146.81pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">96,672<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 147.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">77,289<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 192pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Intangible real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">4,545<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 192pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">1,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 207pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Less: accumulated amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.71pt"></span></span><span style="left: 56.34pt; position: var(--position)">(317)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 207pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 63.71pt"></span></span><span style="left: 66.34pt; position: var(--position)">(1)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 222pt; width: 334.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 334.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">Intangible real estate liabilities, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 6.5pt; font-style: normal; font-weight: normal; left: 160.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 334.5pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">4,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 416.25pt; position: var(--position); top: 222pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">1,421<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 292.99pt">Included within other assets on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 378.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.41pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 522.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.83pt">Included within other liabilities on our consolidated balance sheets. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 392.33pt; position: var(--position); text-decoration: none; white-space: pre; width: 26.92pt">Note 6<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.02pt"> for further information.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfRealEstateOwnedIncomeAndExpensesTableTextBlock', window );">Schedule of Revenue and Expenses From Real Estate Owned</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 360.46pt">Revenue and expenses from real estate owned consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 569.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 225pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.92pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 133.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.14pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Rental income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,263<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,037<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">45,803<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 25.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,037<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other operating income<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">18,470<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">63,775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 40.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Revenue from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">33,733<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">109,578<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 55.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">28,061<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">89,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,432<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 101.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Depreciation and amortization expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,039<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,030<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">47,960<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 101.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 116.25pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total expenses from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">43,100<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,684<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">137,198<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 116.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,647<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147pt; width: 225pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 225pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Net loss from real estate owned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(9,367)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(1,470)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.71pt"></span></span><span style="left: 30.34pt; position: var(--position)">(27,620)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 147pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.71pt"></span></span><span style="left: 35.34pt; position: var(--position)">(2,433)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedMaturityTableTextBlock', window );">Schedule of Undiscounted Future Minimum Rental Income</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.89pt">The following table presents the undiscounted future minimum rents we expect to receive for our office properties as of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.4pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 412.5pt">. Leases at our multifamily assets are short term, generally 12 months or less, and are therefore not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.4pt">included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 92.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.91pt"> ($ in thousands)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 159.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.77pt">:<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 100.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 363.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 0pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25pt; position: var(--position); text-decoration: none; white-space: pre">Future Minimum Rents<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 92.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">17,836<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 27.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">61,740<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 42.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">50,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 57.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">41,736<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 72.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">34,329<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 87.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 97.04pt"></span></span><span style="left: 99.67pt; position: var(--position)">72,948<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 363.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 363.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363.75pt; position: var(--position); top: 102.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 87.04pt"></span></span><span style="left: 94.67pt; position: var(--position)">278,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseFutureAmortizationIncomeTableTextBlock', window );">Below Market Lease, Future Amortization Income</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 486.05pt">The following table presents the amortization of lease intangibles for each of the succeeding fiscal years ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 158.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.27pt; position: var(--position); text-decoration: none; white-space: pre">In-place lease intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">Above-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.71pt; position: var(--position); text-decoration: none; white-space: pre">Below-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">9,561<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,427<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 80.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(292)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">26,096<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">4,121<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 77.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(1,140)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">3,077<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(995)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,225<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(872)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">7,765<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,708<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(498)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,748<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(431)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">81,086<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,586<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 72.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(4,228)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock', window );">Schedule of Finite-Lived Intangible Assets, Future Amortization Expense</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 486.05pt">The following table presents the amortization of lease intangibles for each of the succeeding fiscal years ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 258.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 158.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.27pt; position: var(--position); text-decoration: none; white-space: pre">In-place lease intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">Above-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.71pt; position: var(--position); text-decoration: none; white-space: pre">Below-market lease <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 36.47pt; position: var(--position); text-decoration: none; white-space: pre">intangibles<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">9,561<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,427<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 21.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 80.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(292)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">26,096<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">4,121<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 36.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 77.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(1,140)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">3,077<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 51.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(995)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,225<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 66.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(872)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">7,765<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">1,708<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 81.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(498)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 76.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">11,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 81.04pt"></span></span><span style="left: 83.67pt; position: var(--position)">2,748<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 96.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 85.21pt"></span></span><span style="left: 87.83999999999999pt; position: var(--position)">(431)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 158.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 158.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 158.25pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">81,086<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 271.5pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 71.04pt"></span></span><span style="left: 78.67pt; position: var(--position)">15,586<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384.75pt; position: var(--position); top: 111.75pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 72.71pt"></span></span><span style="left: 80.33999999999999pt; position: var(--position)">(4,228)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Acquired Through Foreclosure Financial Statements, Disclosure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of Real Estate Owned, Income And Expenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of asset acquisition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 805<br> -SubTopic 50<br> -Name Accounting Standards Codification<br> -Section 15<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480123/805-50-15-3<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of amortization income expected to be recorded in succeeding fiscal years for leases acquired as part of a real property acquisition at below market lease rate with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 40<br> -SubTopic 30<br> -Topic 350<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Entities (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsTextBlock', window );">Schedule of Investment in Unconsolidated Entities</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.67pt">The following tables detail our investments in unconsolidated entities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 490pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 64.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre">75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">115<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 48.67pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 138.76pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.84pt; position: var(--position); text-decoration: none; white-space: pre">571<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 31.84pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 93.75pt; width: 54.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.18pt; position: var(--position); text-decoration: none; white-space: pre">35%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 33.51pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 93.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at fair value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 108.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">571<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 108.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 123.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 123.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.87pt; position: var(--position); text-decoration: none; white-space: pre">686<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 123.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 43.67pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 633.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 641.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.08pt">The number of assets represents the number of real estate properties held.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 653.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.7pt">The number of assets represents the number of commercial mortgage loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 664.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 220.94pt">Represents our aggregate ownership interest in our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.52pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 453.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 99.5pt">, which owns an initial<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 676.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">portfolio of commercial mortgage loans acquired during the three months ended June 30, 2025, in which we hold a<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 687.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">29%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 103.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 312.96pt"> interest, and an additional portfolio acquired during the three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 416.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 498.07pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.43pt">, in which we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 699.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.2pt">hold a <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 112.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.33pt">50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.39pt"> interest.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 296.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 0pt; width: 195.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 195.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 65.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 296.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.84pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.72pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">Ownership<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 12.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.25pt; position: var(--position); text-decoration: none; white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 296.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 4.42pt; width: 296.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre; width: 96.81pt">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 48.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.15pt; position: var(--position); text-decoration: none; white-space: pre">75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 48.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">Total unconsolidated entities carried at historical cost<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 63.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 63.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 51.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 296.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 296.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 78.75pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.87pt; position: var(--position); text-decoration: none; white-space: pre">&#8211;<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414.75pt; position: var(--position); top: 78.75pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.04pt"></span></span><span style="left: 53.67pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 477.79pt">The following tables detail the activity related to our investments in unconsolidated entities during the three and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 176.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.79pt">months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.28999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.78999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 199.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 61.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.78pt; position: var(--position); text-decoration: none; white-space: pre">June 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 0pt; width: 61.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.66pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.2pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.33pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 61.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.62pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.81pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">52,181<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">26,281<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 39.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.46pt"></span></span><span style="left: 39.09pt; position: var(--position)">(367)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(364)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">55,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 19.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">44,670<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 54.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 32.29pt"></span></span><span style="left: 34.92pt; position: var(--position)">4,291<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">108,087<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">70,951<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 261.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 315pt; position: var(--position); top: 69.75pt; width: 61.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 61.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.29pt"></span></span><span style="left: 34.92pt; position: var(--position)">3,924<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 379.5pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.21pt"></span></span><span style="left: 36.84pt; position: var(--position)">(364)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 62.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Investments in Unconsolidated Entities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.19pt; position: var(--position); text-decoration: none; white-space: pre">December <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.5pt; position: var(--position); text-decoration: none; white-space: pre">31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 0pt; width: 54pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 54pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.02pt; position: var(--position); white-space: pre">Contributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 0pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.7pt; position: var(--position); white-space: pre">Distributions<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 0pt; width: 62.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.03pt; position: var(--position); white-space: pre">(Loss) Income <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.58pt; position: var(--position); white-space: pre">From <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.7pt; position: var(--position); white-space: pre">Unconsolidated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 62.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15pt; position: var(--position); white-space: pre">Entities<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 41.19pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 0pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.98pt; position: var(--position); white-space: pre">Accumulated <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.41pt; position: var(--position); white-space: pre">Other <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.98pt; position: var(--position); white-space: pre">Comprehensive <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.85pt; position: var(--position); white-space: pre">Loss<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 0pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 39.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net Lease Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 39.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 39.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 22.419999999999998pt; position: var(--position)">76,391<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 39.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 39.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.71pt"></span></span><span style="left: 32.34pt; position: var(--position)">(1,559)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 39.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(1,553)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 39.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">77,731<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 54.75pt; width: 144.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 54.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 54.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">102,273<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 54.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 54.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">2,594<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 54.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.54pt"></span></span><span style="left: 45.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 54.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">104,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 69.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 69.75pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 16.79pt"></span></span><span style="left: 24.419999999999998pt; position: var(--position)">4,452<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 201.75pt; position: var(--position); top: 69.75pt; width: 54pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.79pt"></span></span><span style="left: 17.419999999999998pt; position: var(--position)">178,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 258.75pt; position: var(--position); top: 69.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 312pt; position: var(--position); top: 69.75pt; width: 62.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 62.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">1,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 377.25pt; position: var(--position); top: 69.75pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.71pt"></span></span><span style="left: 29.34pt; position: var(--position)">(1,553)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 439.5pt; position: var(--position); top: 69.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">182,598<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 391.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 399.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Includes our share of non-cash items such as (i) depreciation and amortization, and (ii) unrealized gains recorded by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.32pt">unconsolidated entities.<span style="display: inline-block; height: 6.93pt"></span></span><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Assets and Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfOtherAssetsTableTextBlock', window );">Summary of Components of Other Assets</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 318.01pt">The following table details the components of our other assets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 376.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Loan portfolio payments held by servicer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 167.73pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">429,747<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">113,199<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">138,130<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">160,131<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Accounts receivable and other assets<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 149.65pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">114,172<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">134,030<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate intangible assets, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">96,672<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">77,289<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">35,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">9,338<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Prepaid expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 57.04pt"></span></span><span style="left: 59.67pt; position: var(--position)">126<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">1,002<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral deposited under derivative agreements<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 62.04pt"></span></span><span style="left: 64.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">4,810<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">834,219<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">572,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 259.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 267.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">Primarily represents loan principal repayments held by our third-party loan servicers as of the balance sheet date that<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 237.74pt">were remitted to us during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 290.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 36.95pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.45pt">$105.2&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 181.9pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 202.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.45pt">$95.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 256.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.95pt"> as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 282.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 384.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 464.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.63pt">, respectively, of cash<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">collateral held by our CLOs that was subsequently remitted by the trustee to repay a portion of the outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 313.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 437.84pt">senior CLO securities, or that was subsequently reinvested by purchasing additional collateral into our CLOs.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesTableTextBlock', window );">Summary of Components of Other Liabilities</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 331.85pt">The following table details the components of our other liabilities ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 12pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 3pt"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 329.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 78.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 329.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 0pt; width: 78.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 0pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Debt repayments pending servicer remittance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 184.04pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 12.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">335,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">3,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Other real estate liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 27.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">114,413<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 27.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">72,018<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued dividends payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 42.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">80,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 42.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">81,214<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued interest payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 57.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">64,911<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 57.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">77,855<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accrued management fees payable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 72.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">16,849<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 72.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">18,534<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Current expected credit loss reserves for unfunded loan commitments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 280.64pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 87.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">13,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 87.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">10,412<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Accounts payable and other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 102.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 44.54pt"></span></span><span style="left: 47.17pt; position: var(--position)">11,230<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 102.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.79pt"></span></span><span style="left: 52.42pt; position: var(--position)">13,834<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivative liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 117.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 49.54pt"></span></span><span style="left: 52.17pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 117.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 54.79pt"></span></span><span style="left: 57.42pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 329.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 329.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 329.25pt; position: var(--position); top: 132.75pt; width: 78.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 78.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">639,372<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 411pt; position: var(--position); top: 132.75pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.79pt"></span></span><span style="left: 47.42pt; position: var(--position)">282,847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 543.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents pending transfers from our third-party loan servicer that were remitted to our banking counterparties or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 213.89pt">CLO trustees during the subsequent remittance cycle.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.3pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 322.19pt">Represents the CECL reserve related to our unfunded loan commitments. See <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 407.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.81pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.97pt"> for further discussion of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.25pt">CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Secured Debt, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Securitized Debt Obligations, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Asset-Specific Debt, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loan Participations Sold, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAbstract', window );"><strong>Loan Participations Sold [Abstract]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfLoanParticipationsSoldTableTextBlock', window );">Schedule Of Loan Participations Sold</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 346.28pt; position: var(--position); text-decoration: none; white-space: pre">The following table details our loan participations <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 152.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">sold as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 99.31pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 177.85pt; position: var(--position); text-decoration: none; white-space: pre"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 164pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Loan Participations Sold<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 37.12pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.55pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 43.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Junior Participations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Loan Participation<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 94.06pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 9.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">442,142<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">442,008<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 64.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 6.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 64.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.83pt; position: var(--position); text-decoration: none; white-space: pre">February 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 248.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 256.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 268pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">The weighted-average all-in yield and cost are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 279.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">SOFR and SONIA, as applicable. This non-debt participation sold structure is inherently matched in terms of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 291pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">currency and interest rate. In addition to cash coupon, yield/cost includes the amortization of deferred fees and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 302.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.71pt">financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 314pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">The term is determined based on the maximum maturity of the loan, assuming all extension options are exercised by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 325.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.71pt">the borrower. Our loan participations sold are inherently non-recourse and term-matched to the corresponding loan.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 337pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.6pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.67pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.76999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.91pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 269.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 86.3pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 355.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 65.72pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 421.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$1.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.51pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 499.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.89pt">$6.9&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 348.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 338.19pt">respectively, of interest expense related to our loan participations sold. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 423.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.22pt">year ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 467.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.17pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 471.08pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.88pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.96pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 360pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">we recorded<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.85pt">$22.6&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 228.88pt"> of interest expense related to our loan participations sold<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 419.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loans, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Senior Secured Notes, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtInstrumentsTextBlock', window );">Schedule of Long-Term Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 245.57pt">The following table details our secured debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 130pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 341.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 80.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 70.5pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 0pt; width: 153.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.8pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.9pt; position: var(--position); white-space: pre">Secured Debt <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 153.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 34.57pt; position: var(--position); white-space: pre">Borrowings Outstanding<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 119.16999999999999pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 341.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 21.75pt; width: 80.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 21.75pt; width: 70.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.94pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Secured credit facilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 34.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 34.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Deferred financing costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 100.83999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 49.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 48.46pt; position: var(--position); text-decoration: none; white-space: pre">(8,108)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 49.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.71pt; position: var(--position); text-decoration: none; white-space: pre">(9,195)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 341.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 341.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value of secured debt<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 341.25pt; position: var(--position); top: 64.5pt; width: 80.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 80.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 424.5pt; position: var(--position); top: 64.5pt; width: 70.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 70.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 18.79pt"></span></span><span style="left: 26.419999999999998pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 214.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 226pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">Costs incurred in connection with our secured debt are recorded on our consolidated balance sheets when incurred <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre">and recognized as a component of interest expense over the life of each related facility.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 242.43pt">The following table details our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 300.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 69.68pt"> ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 365.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 44.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 32.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 29.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 14.25pt"><td colspan="19" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 494.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 494.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 213.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 14.25pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 14.25pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 14.25pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 14.25pt; width: 88.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 88.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.28pt; position: var(--position); text-decoration: none; white-space: pre">Recourse Limitation<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 23.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27pt; width: 44.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Currency<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 27pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.86pt; position: var(--position); white-space: pre">Lenders<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.51pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 27pt; width: 32.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.24pt; position: var(--position); text-decoration: none; white-space: pre">Loan <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.47pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 27pt; width: 57pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 57pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.37pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.559999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 27pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 6.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.55pt; position: var(--position); white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.629999999999995pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 27pt; width: 29.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.51pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.01pt; position: var(--position); text-decoration: none; white-space: pre">Wtd. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.68pt; position: var(--position); text-decoration: none; white-space: pre">Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 27pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.62pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.18pt; position: var(--position); text-decoration: none; white-space: pre">Range<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 50.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.12pt; position: var(--position); text-decoration: none; white-space: pre">USD<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 50.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,954,253<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 50.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">81<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 50.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">6,522,111<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 50.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.54pt; position: var(--position); text-decoration: none; white-space: pre">July 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 50.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">32%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 50.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 65.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.4pt; position: var(--position); text-decoration: none; white-space: pre">GBP<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 65.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,265,827<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.43pt; position: var(--position); text-decoration: none; white-space: pre">August 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 65.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">14<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 65.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">3,098,509<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 65.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 65.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 65.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 80.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.13pt; position: var(--position); text-decoration: none; white-space: pre">EUR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 80.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,835,792<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.51pt; position: var(--position); text-decoration: none; white-space: pre">September 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 80.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.12pt; position: var(--position); text-decoration: none; white-space: pre">10<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 80.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">2,588,781<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 80.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 80.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">42%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 80.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 95.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.77pt; position: var(--position); white-space: pre">Others<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 32.41pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 95.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.37pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,492,460<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 95.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 13.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 95.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 10.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">1,873,776<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 95.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 95.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 95.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 18.96pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 110.25pt; width: 44.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 44.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.59pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 47.25pt; position: var(--position); top: 110.25pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.87pt; position: var(--position); text-decoration: none; white-space: pre">13<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 90pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 5.29pt"></span></span><span style="left: 12.919999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 150pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 230.25pt; position: var(--position); top: 110.25pt; width: 32.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 32.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.62pt; position: var(--position); text-decoration: none; white-space: pre">112<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 265.5pt; position: var(--position); top: 110.25pt; width: 57pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 0.29pt"></span></span><span style="left: 7.92pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 325.5pt; position: var(--position); top: 110.25pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">January 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 405.75pt; position: var(--position); top: 110.25pt; width: 29.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 29.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.4pt; position: var(--position); text-decoration: none; white-space: pre">31%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 438pt; position: var(--position); top: 110.25pt; width: 56.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.13pt; position: var(--position); text-decoration: none; white-space: pre">25%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.459999999999997pt; position: var(--position); white-space: pre"> - <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 29.79pt; position: var(--position); text-decoration: none; white-space: pre">100%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 495.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 507.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">Represents the number of lenders with fundings advanced in each respective currency, as well as the total number of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 518.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.12pt">facility lenders.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 530.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Our secured debt agreements are generally term-matched to their underlying collateral. Therefore, the weighted-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 541.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">average maturity is generally allocated based on the maximum maturity date of the collateral loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 553.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">extension options are exercised by the borrower. In limited instances, the maturity date of the respective secured<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 564.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.98pt">credit facility is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 576.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 587.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">Maximum maturity assumes all extension options are exercised by the borrower, however our loans may be repaid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 599.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 72.15pt">prior to such date.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 610.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.04pt">Includes Australian Dollar, Canadian Dollar, and Swedish Krona currencies.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 302.65pt">The following tables detail the spread of our secured credit facilities as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 361.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.16pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 442.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.37pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.48pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1600000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.3pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 76.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 87pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 87pt"><div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 3.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 77.69pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.08pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 0pt; width: 301.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 301.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 117.33pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 87pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 87pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.27pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.66pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.46pt; position: var(--position); white-space: pre"> Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">1,385,800<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">4,547,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.54<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,600,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">555,478<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,564,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,375,095<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.48<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.73<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.79pt"></span></span><span style="left: 50.42pt; position: var(--position)">104,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">935,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,766,876<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.28<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.87pt; position: var(--position); text-decoration: none; white-space: pre">137,147<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,501,436<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.63<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,340,713<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 87pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 87pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.29pt"></span></span><span style="left: 42.92pt; position: var(--position)">2,183,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 193.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,083,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.35<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 215.9pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 99.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 57.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 20.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.49pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.59pt; position: var(--position); white-space: pre">Year Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="font-size: 12pt; line-height: 8pt; position: var(--position); top: 11.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.81pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 0pt; width: 302.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 11.62pt; width: 302.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 118.81pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 20.25pt; width: 99.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 99.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Spread<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 27.05pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 20.25pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 86.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.9pt; position: var(--position); white-space: pre">New Financings<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 67.29pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 15.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.77pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.89pt; position: var(--position); text-decoration: none; white-space: pre">Borrowings<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.51pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.049999999999997pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 20.25pt; width: 57.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 57.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.75pt; position: var(--position); white-space: pre">Collateral<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.94pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.94pt; position: var(--position); white-space: pre">Wtd. Avg. <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.21pt; position: var(--position); white-space: pre">Yield<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.41pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 20.25pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.07pt; position: var(--position); white-space: pre">Net Interest<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 54.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.46pt; position: var(--position); white-space: pre">Margin<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.22pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(6)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 52.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.50% or less<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 52.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">165,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,976,192<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 52.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">6,185,925<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 52.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.65<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 67.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.51% to + 1.75%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 67.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 52.04pt"></span></span><span style="left: 54.67pt; position: var(--position)">74,118<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,238,376<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 67.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,140,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 67.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.74<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 82.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 1.76% to + 2.00%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 82.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 69.54pt"></span></span><span style="left: 72.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">969,541<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.09<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 82.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">1,802,431<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.67<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 82.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 97.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">+ 2.01% or more<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 97.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 51.12pt; position: var(--position); text-decoration: none; white-space: pre">374,407<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">2,521,420<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+2.61<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 97.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 11.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">3,678,528<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+4.31<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 97.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.70<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 112.5pt; width: 99.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 99.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 102.75pt; position: var(--position); top: 112.5pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">614,141<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 192.75pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 6.04pt"></span></span><span style="left: 13.669999999999998pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 254.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 316.5pt; position: var(--position); top: 112.5pt; width: 57.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 57.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 1.04pt"></span></span><span style="left: 8.67pt; position: var(--position)">14,807,821<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 378pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+3.58<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-right: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-left: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 112.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 19.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 19.21pt; position: var(--position)">+1.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 45.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 348.4pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 359.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">The spread, all-in cost, and all-in yield are expressed over the relevant floating benchmark rates, which include<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 371.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 278.92pt">SOFR, SONIA, EURIBOR, CORRA, and other indices as applicable.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 382.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.84pt">Represents the amount of new borrowings we closed<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 303.34000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 48.65pt"> during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 351.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 77.39pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 429.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.45pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 82.12pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.33pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.19pt">year<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 394.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.86pt">ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 109.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.54pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 190.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 405.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to spread, the cost includes the associated deferred fees and expenses related to the respective<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 417.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">borrowings. In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 428.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">fees, loan origination costs, and purchase discounts, as well as the accrual of exit fees. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 440.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 434.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 451.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.54pt">Represents the weighted-average all-in cost as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 288.03999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 390.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.74pt">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 469.83pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.64pt">, respectively, and is<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 463.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 324.04pt">not necessarily indicative of the spread applicable to recent or future borrowings.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 474.9pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 434.38pt">Represents the principal balance of the collateral loan assets and the book value of the collateral REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 486.4pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(6)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 406.62pt">Represents the difference between the weighted-average all-in yield and weighted-average all-in cost.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 6.1pt">T<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 64.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 488.88pt">he following tables detail our securitized debt obligations and the underlying collateral assets that are financed by our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 93.55pt">CLOs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 117.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 204pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 27pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 71.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 204pt; position: var(--position); top: 0pt; width: 291pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 291pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 112.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 204pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 27pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.74pt; position: var(--position); white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.6pt; position: var(--position); white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 36.58pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 12.75pt; width: 71.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 71.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.05pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 FL5 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 49.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">831,250<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">821,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 49.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">October 2042<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 64.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">898,950<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 64.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.01pt; position: var(--position); text-decoration: none; white-space: pre">September 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 79.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 79.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 79.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 94.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">609,741<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.45<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 94.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.21pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 109.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">18<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">759,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.66<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 109.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 139.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">457,129<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.51<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 139.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.28pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 154.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">625,580<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.78<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 154.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 184.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">581,297<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.76<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 184.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 6.33pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 199.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">813,742<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 423.75pt; position: var(--position); top: 199.5pt; width: 71.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 71.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.33pt; position: var(--position); text-decoration: none; white-space: pre">March 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 214.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 229.5pt; width: 204pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 4.5825000000000005pt; font-style: normal; font-weight: normal; left: 156.93pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 229.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 229.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 244.5pt; width: 204pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 204pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 15.13pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 244.5pt; width: 27pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 27pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 8.5pt; position: var(--position); text-decoration: none; white-space: pre">59<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 237pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 299.25pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">3,098,228<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 244.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 3.15<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 382pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 391.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 403pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 414.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 426pt; width: 612pt"><span style="-sec-ix-hidden:f-1869"><span style="-sec-ix-hidden:f-1870"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt">The weighted-average all-in yield and cost are expressed as a spread over SOFR<span style="display: inline-block; height: 6.93pt"></span></span></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 7.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 439.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 113.79pt">All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 437.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 349.33pt">accounted for under the cost-recovery and nonaccrual methods, if any, and REO assets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 449pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 460.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.88pt">extension options are exercised by the borrower, and excludes REO assets. Repayments of securitized debt<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 472pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.85pt">obligations are tied to timing of the related collateral loan asset repayments. The term of these obligations represents<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 483.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 211.37pt">the rated final distribution date of the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 495pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.0 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$107.8 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 506.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 54pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 171.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 59.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 79.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 171.75pt; position: var(--position); top: 0pt; width: 323.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 323.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 129.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized Debt Obligations<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 12.75pt; width: 51pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.84pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 12.75pt; width: 59.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 59.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.58pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 42.54pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 12.75pt; width: 79.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 79.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 27.17pt; position: var(--position); white-space: pre">Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 46.260000000000005pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2021 FL4 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 49.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,453<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 15.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">785,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 49.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 49.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">May 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 64.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">22<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">952,764<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 64.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.95<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 64.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL3 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 94.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,664<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">552,663<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 94.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 94.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.41pt; position: var(--position); text-decoration: none; white-space: pre">November 2037<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 109.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">743,914<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 109.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.92<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 109.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.34pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2020 FL2 Collateralized Loan Obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 139.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 139.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,850<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">598,851<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 139.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 139.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.46pt; position: var(--position); text-decoration: none; white-space: pre">February 2038<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 154.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 154.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">12<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 20.04pt"></span></span><span style="left: 22.669999999999998pt; position: var(--position)">855,725<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 154.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.79<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 415.5pt; position: var(--position); top: 154.5pt; width: 79.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 79.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.06pt; position: var(--position); text-decoration: none; white-space: pre">August 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 169.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 184.5pt; width: 171.75pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Senior CLO Securities Outstanding<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 161.8pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(5)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 184.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 184.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 1.57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 199.5pt; width: 171.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Underlying Collateral Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 174.75pt; position: var(--position); top: 199.5pt; width: 51pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 51pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.5pt; position: var(--position); text-decoration: none; white-space: pre">46<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228.75pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 291pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.54pt"></span></span><span style="left: 15.169999999999998pt; position: var(--position)">2,552,403<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 353.25pt; position: var(--position); top: 199.5pt; width: 59.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 59.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 21.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 21.21pt; position: var(--position)">+ 2.98<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 50.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 273.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 283pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">In addition to cash coupon, all-in yield includes the amortization of deferred origination and extension fees, loan<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.21pt">origination costs, purchase discounts, and accrual of exit fees.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 346.95pt"><span style="-sec-ix-hidden:f-1905"><span style="-sec-ix-hidden:f-1906">The weighted-average all-in yield and cost are expressed as a spread over SOFR</span></span><span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 432.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.93pt">. All-in yield excludes loans<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 281.62pt">accounted for under the cost-recovery and nonaccrual methods, if any.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Underlying Collateral Assets term represents the weighted-average final maturity of such loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 352pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">extension options are exercised by the borrower. Repayments of securitized debt obligations are tied to timing of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 363.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">related collateral loan asset repayments. The term of these obligations represents the rated final distribution date of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 375pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 74.88pt">the securitizations.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 386.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(5)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.72pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 135.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 196.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.09pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.42pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.9pt">, we recorded <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 410.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.95pt">$40.6 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.63pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.95pt">$123.9 million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 398pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 298.76pt">respectively, of interest expense related to our securitized debt obligations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 268.85pt">The following table details our asset-specific debt ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 327.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 470.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 141pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 0pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 143.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 47.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 12.75pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 34.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.18<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 34.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">781,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">775,248<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 49.5pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 49.5pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.78pt; position: var(--position); text-decoration: none; white-space: pre">October 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 6.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 141pt"><div><div style="line-height: 1pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 1pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 0.69pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 71.25pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="10" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 141pt; position: var(--position); top: 71.25pt; width: 354pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 354pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 144.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 141pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Asset-Specific Debt<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.97pt; position: var(--position); text-decoration: none; white-space: pre">Count<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.86pt; position: var(--position); text-decoration: none; white-space: pre">Principal<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.08pt; position: var(--position); text-decoration: none; white-space: pre"> Balance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.72pt; position: var(--position); white-space: pre">Book Value<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 49.47pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 84pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.19pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.61pt; position: var(--position); white-space: pre"> Yield/Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 48.57pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 84pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.69pt; position: var(--position); white-space: pre">Wtd. Avg.<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.94pt; width: 74.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.55pt; position: var(--position); white-space: pre"> Term<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 44.64pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Financing provided<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 105.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 3.20<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 105.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 141pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 141pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Collateral assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 144.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 213.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,467,185<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 282.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,459,864<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 120.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 27.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 27.21pt; position: var(--position)">+ 4.03<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 56.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 420.75pt; position: var(--position); top: 120.75pt; width: 74.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 16.71pt; position: var(--position); text-decoration: none; white-space: pre">June 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 611.05pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 622.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 347.88pt">The book value of underlying collateral assets excludes any applicable CECL reserves.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 634.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="-sec-ix-hidden:f-1925"><span style="-sec-ix-hidden:f-1926"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">The weighted-average all-in yield and cost are expressed as a spread over the relevant floating benchmark rates,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 645.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 202.48pt">which include SOFR and CORRA, as applicable.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 287.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 265.37pt"> These floating rate loans and related liabilities are currency and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 657.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">index-matched to the applicable benchmark rate relevant in each arrangement. In addition to cash coupon, yield/cost<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 668.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 294.63pt">includes the amortization of deferred origination fees and financing costs.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 680.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">The weighted-average term is determined based on the maximum maturity of the corresponding loans, assuming all<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 691.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.98pt">extension options are exercised by the borrower. Our non-recourse, asset-specific debt is term-matched in each case<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.87pt">to the corresponding collateral loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details the net book value of each of our senior term loan facilities, or Term Loans, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 497.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 509.2pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 84pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Term Loans<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.81pt; position: var(--position); white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.1pt; position: var(--position); white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 30.08pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 15.36pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 50.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.29pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.83pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 12.75pt; width: 84pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.46pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-1 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">309,268<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.36<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 34.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.53<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 34.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.78pt; position: var(--position); text-decoration: none; white-space: pre">April 23, 2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-4 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">805,169<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 49.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.99<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 49.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-5 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">650,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 64.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 4.27<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 64.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">B-6 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 28.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,045,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.00<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 79.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.55<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 79.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.83pt; position: var(--position); text-decoration: none; white-space: pre">December 10, 2030<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 94.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">B-7 Term Loan<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">453,105<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 94.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 58.29pt"></span></span><span style="left: 60.92pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 303.75pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 2.50<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 357pt; position: var(--position); top: 94.5pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.21pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.21pt; position: var(--position)">+ 3.05<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 41.17pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 410.25pt; position: var(--position); top: 94.5pt; width: 84pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 84pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 30.55pt; position: var(--position); text-decoration: none; white-space: pre">May 9, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 109.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 109.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 124.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(33,214)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 124.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 38.21pt; position: var(--position); text-decoration: none; white-space: pre">(32,364)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 150.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225.75pt; position: var(--position); top: 150.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 23.29pt"></span></span><span style="left: 30.919999999999998pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 679.95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 692.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 421.34pt">The B-6 Term Loan and the B-7 Term Loan borrowings are subject to a benchmark interest rate floor of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 506.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">0.50%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 532.6700000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.14pt">. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 537.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3399999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 703.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 180.94pt">Term Loans are indexed to one-month SOFR<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 266.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 715.2pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">Includes issue discount and transaction expenses that are amortized through interest expense over the life of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 726.7pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 94.58pt">applicable Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.11pt">The following table details our interest expense related to the Term Loans ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 147pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">32,898<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">44,242<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">101,041<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">132,906<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,266<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,283<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">8,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">6,848<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,164<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">46,525<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">109,422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 33.17pt; position: var(--position)">139,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table details the net book value of our senior secured notes, or Senior Secured Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 316pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 327.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 144.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 12pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 144.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured Notes Issuance<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.06pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.38pt; position: var(--position); text-decoration: none; white-space: pre">Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 12.75pt; width: 42.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.61pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 42.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.57pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 26.11pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 12.75pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.96pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">October 2021<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">3.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 34.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">4.06<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 34.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">January 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">December 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 304.5pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">7.75<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 347.25pt; position: var(--position); top: 49.5pt; width: 12pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.75pt; width: 12pt"><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); top: -1.9389999999999998pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.601pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 359.25pt; position: var(--position); top: 49.5pt; width: 42.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 12.84pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt"></span></span><span style="left: 12.84pt; position: var(--position)">8.14<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span><span style="left: 33.67pt; position: var(--position)">%<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 414pt; position: var(--position); top: 49.5pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">December 1, 2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 64.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Total face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 64.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 79.5pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discounts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,935)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 79.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(9,857)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Hedging adjustments<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 87.27pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.87pt; position: var(--position); text-decoration: none; white-space: pre">7,834<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 105.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 120.75pt; width: 144.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 144.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 148.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">785,215<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 226.5pt; position: var(--position); top: 120.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">771,035<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 468.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 478.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 461.37pt">Includes transaction expenses that are amortized through interest expense over the life of the Senior Secured Notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 489.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Represents the stated coupon rate of the notes. We have entered into an interest rate swap that effectively converts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 501.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.73pt">our fixed rate exposure to a SOFR + <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 233.23pt; position: var(--position); text-decoration: none; white-space: pre; width: 25.83pt">3.95%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 259.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.11pt"> floating rate exposure.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 512.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Represents the fair value of an interest rate swap that we entered into to convert the fixed rate exposure of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 524.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.54pt">December 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 149.04pt; position: var(--position); text-decoration: none; white-space: pre; width: 198.1pt"> Senior Secured Notes into floating rate. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 347.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 14<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 90.49pt"> for further discussion.<span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 403.14pt">The following table details our interest expense related to the Senior Secured Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 571.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,160<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">35,587<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">9,701<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">654<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">254<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,003<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">775<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,516<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,414<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">37,590<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,476<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3<br><br>Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br><br>Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Convertible Notes, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentsAbstract', window );"><strong>Debt Instruments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConvertibleDebtTableTextBlock', window );">Summary of Convertible Debt</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 495pt">The following table details the net book value of our convertible senior notes, or Convertible Notes, on our consolidated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 158.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 127.08pt">balance sheets ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 185.57999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 187.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 39.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 45pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 0pt; width: 153pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 153pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 57.52pt; position: var(--position); text-decoration: none; white-space: pre">Face Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Convertible Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 12.75pt; width: 75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.56pt; position: var(--position); text-decoration: none; white-space: pre">Interest <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.88pt; position: var(--position); text-decoration: none; white-space: pre">Rate <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 12.75pt; width: 39.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.11pt; position: var(--position); white-space: pre">All-in <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 39.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.07pt; position: var(--position); white-space: pre">Cost<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 24.61pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 12.75pt; width: 45pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.96pt; position: var(--position); white-space: pre">Conversion <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 45pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.59pt; position: var(--position); white-space: pre">Price<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 28.34pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.33pt; position: var(--position); text-decoration: none; white-space: pre">Maturity<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Face value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 34.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 289.5pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.50%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 333pt; position: var(--position); top: 34.5pt; width: 39.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 39.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 7.9pt; position: var(--position); text-decoration: none; white-space: pre">5.79%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 376.5pt; position: var(--position); top: 34.5pt; width: 45pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 45pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 9.69pt; position: var(--position); text-decoration: none; white-space: pre">$36.27<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 34.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.08pt; position: var(--position); text-decoration: none; white-space: pre">March 15, 2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 49.5pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.62pt; position: var(--position); text-decoration: none; white-space: pre">Deferred financing costs and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">unamortized discount<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(1,694)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 49.5pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 43.21pt; position: var(--position); text-decoration: none; white-space: pre">(2,541)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 75.75pt; width: 129.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Net book value<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">264,463<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 210.75pt; position: var(--position); top: 75.75pt; width: 75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.79pt"></span></span><span style="left: 38.42pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 283.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 294.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Includes issuance costs that are amortized through interest expense over the life of the Convertible Notes using the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 306.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 101.78pt">effective interest method.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 187.28pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 317.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 355.09pt">Represents the price of class A common stock per share based on a conversion rate of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.59pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">27.5702<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 473.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.38pt"> for the Convertible<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 329.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 401.92pt">Notes. The conversion rate represents the number of shares of class A common stock issuable per <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 487.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">$1,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.9200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.58pt"> principal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 340.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.15pt">amount of Convertible Notes. The cumulative dividend threshold has <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 364.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 12.77pt">not<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 377.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 85.16pt"> been exceeded as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 462.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.8pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 545.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 221.91pt">The following table details our interest expense related <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 280.40999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 167.62pt">to the Convertible Notes ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash coupon<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,660<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,874<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">10,979<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Discount and issuance cost amortization<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">305<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">847<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">944<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest expense<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,942<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">4,179<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">11,826<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,068<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of convertible debt instrument. Includes, but is not limited to, principal amount and amortized premium or discount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract', window );"><strong>Derivative Instruments and Hedging Activities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock', window );">Summary of Outstanding Foreign Exchange Derivatives</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.94pt">The following table details our outstanding foreign exchange derivatives that were designated as net investment hedges of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 263.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.58pt">foreign currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.08000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 275pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 288.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 494.25pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 129pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 50.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 89.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 0pt; width: 245.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 245.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 12.75pt; width: 129pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Foreign Currency Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 50.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.59pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.26pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 12.75pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.59pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 14.26pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">970,798<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 33.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell SEK Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 33.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">kr <span style="display: inline-block; height: 6.93pt; width: 8.46pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">971,180<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">7<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">700,195<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 48.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">5<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 48.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">604,739<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">657,309<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 63.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 63.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 63.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.29pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">603,910<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">8<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">383,504<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 78.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell AUD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 78.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">6<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 78.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">A$<span style="display: inline-block; height: 6.93pt; width: 7.07pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">355,703<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CAD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">C$<span style="display: inline-block; height: 6.93pt; width: 7.63pt"></span></span><span style="left: 21.919999999999998pt; position: var(--position)">120,877<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 249pt; position: var(--position); top: 93.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 93.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 435.75pt; position: var(--position); top: 93.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 9.85pt"></span></span><span style="left: 31.919999999999998pt; position: var(--position)">6,752<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108.75pt; width: 129pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 129pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 132.75pt; position: var(--position); top: 108.75pt; width: 50.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 50.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 22.62pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 186.75pt; position: var(--position); top: 108.75pt; width: 58.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 22.35pt"></span></span><span style="left: 44.42pt; position: var(--position)">52<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.98pt">The following table details our outstanding foreign exchange derivatives that were non-designated hedges of foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 458.05pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 186.22pt">currency risk (notional amounts in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 244.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 469.55pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 483.35pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 493.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 132pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 131.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 244.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 244.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 88.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 0pt; width: 246pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 246pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.69pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 132pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.97pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.55pt; position: var(--position); text-decoration: none; white-space: pre">Non-designated Hedges<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Number of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.76pt; position: var(--position); text-decoration: none; white-space: pre"> Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 12.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.47pt; position: var(--position); text-decoration: none; white-space: pre">Notional<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 13.14pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">109,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 33.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy GBP / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 33.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 33.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)">54,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">4<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 9.04pt"></span></span><span style="left: 16.669999999999998pt; position: var(--position)">109,300<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 247.5pt; position: var(--position); top: 48.75pt; width: 131.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell GBP Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 382.5pt; position: var(--position); top: 48.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">3<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 437.25pt; position: var(--position); top: 48.75pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#163;<span style="display: inline-block; height: 6.93pt; width: 17.04pt"></span></span><span style="left: 24.669999999999998pt; position: var(--position)">54,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 63.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy EUR / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 63.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">35,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 78.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Buy USD / Sell EUR Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 78.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">&#8364;<span style="display: inline-block; height: 6.93pt; width: 14.04pt"></span></span><span style="left: 21.669999999999998pt; position: var(--position)">35,900<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 93.75pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy CHF / Sell USD Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 93.75pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">6,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 108pt; width: 132pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 132pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Buy USD / Sell CHF Forward<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 135pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 24.12pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 191.25pt; position: var(--position); top: 108pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">CHF<span style="display: inline-block; height: 6.93pt; width: 4.6pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">6,700<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock', window );">Summary of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.86pt">The following tables detail our outstanding interest rate derivatives that were designated as fair value hedges of interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 89pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.88pt">risk (notional amount in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 106.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre">3.81%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre">4.2<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 184.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 51.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 72.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 95.25pt"></td></tr><tr style="height: 12.75pt"><td colspan="11" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 51.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.34pt; position: var(--position); text-decoration: none; white-space: pre">Number of <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.01pt; position: var(--position); text-decoration: none; white-space: pre">Instruments<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 12.75pt; width: 72.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.73pt; position: var(--position); text-decoration: none; white-space: pre">Notional Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.09pt; position: var(--position); text-decoration: none; white-space: pre">Fixed Rate<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 12.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.85pt; position: var(--position); text-decoration: none; white-space: pre">Index<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 12.75pt; width: 95.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.43pt; position: var(--position); text-decoration: none; white-space: pre">Maturity (Years)<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Interest Rate Swaps<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 34.5pt; width: 51.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 51.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 23.37pt; position: var(--position); text-decoration: none; white-space: pre">1<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 72.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 72.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.54pt"></span></span><span style="left: 36.17pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 285.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.65pt; position: var(--position); text-decoration: none; white-space: pre">3.81%<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 342.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.12pt; position: var(--position); text-decoration: none; white-space: pre">SOFR<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 399.75pt; position: var(--position); top: 34.5pt; width: 95.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 95.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 41.37pt; position: var(--position); text-decoration: none; white-space: pre">4.9<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Schedule of Carrying Amount and Cumulative Basis Adjustments on Hedged Items Designated as Fair Value Hedges</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.9pt">The following tables detail the carrying amount and cumulative basis adjustments on hedged items designated as fair value<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 274pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 97.43pt">hedges ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 297pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 214.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)">451,189<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 134.54pt"></span></span><span style="left: 142.17pt; position: var(--position)">7,834<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 366.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 150pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 168.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 495pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 215.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 30.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 150pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.9pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Line Item in the Consolidated Balance <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Sheets in which the Hedged Item is <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Included<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.1pt; position: var(--position); text-decoration: none; white-space: pre">Carrying Amount of the Hedged Assets/ <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 67.28pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 12.75pt; width: 168.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.01pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.33pt; position: var(--position); text-decoration: none; white-space: pre">Cumulative Amount of Fair Value Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.12pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12pt; position: var(--position); text-decoration: none; white-space: pre">Adjustment Included in Carrying Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 150pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 150pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 153.75pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 124.54pt"></span></span><span style="left: 132.17pt; position: var(--position)">437,759<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 43.5pt; width: 168.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 168.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 131.21pt"></span></span><span style="left: 138.84pt; position: var(--position)">(4,424)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 182.68pt">The following table presents the net gains <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 241.18pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.91pt">(losses) <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 276.09000000000003pt; position: var(--position); text-decoration: none; white-space: pre; width: 277.36pt">on derivatives and the related hedged items in fair value hedging<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 83pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.88pt">relationships fo<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.53pt">r the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 140.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.59pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 60.79pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 258.28999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 338.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 5.83pt"> (<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 344.34pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.85pt">$ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 112.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 490.5pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 320.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 86.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 0pt; width: 86.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.71pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total interest and related expenses presented in the consolidated statements of <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.63pt; position: var(--position); text-decoration: none; white-space: pre">operations<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 21pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">247,055<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 21pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 36.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">754,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Gains (losses) on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Total gain on derivative instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 62.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)">486<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 62.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">12,774<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Fair value basis adjustment on hedged items<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 77.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 61.96pt; position: var(--position); text-decoration: none; white-space: pre">(494)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 77.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 49.21pt; position: var(--position); text-decoration: none; white-space: pre">(7,834)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Derivative settlements and accruals<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 92.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 68.62pt; position: var(--position); text-decoration: none; white-space: pre">674<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 92.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 55.87pt; position: var(--position); text-decoration: none; white-space: pre">2,116<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 320.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 320.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); white-space: pre">Net gain on fair value hedging relationships<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 194.99pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 320.25pt; position: var(--position); top: 107.25pt; width: 86.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 86.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 59.54pt"></span></span><span style="left: 67.17pt; position: var(--position)">666<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 409.5pt; position: var(--position); top: 107.25pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 54.42pt; position: var(--position)">7,056<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 249.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.96pt">Included<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.46000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 365.92pt"> within interest and related expenses presented in the consolidated statements of operations.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Schedule of Derivative Instruments in Statement of Operations</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 125.42pt">The following table presents th<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 183.92000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 369.57pt">e effect of our derivative financial instruments on our consolidated statements of operations<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 471pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 67.18pt">($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 482.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 122.25pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 110.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 111pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 63.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 0pt; width: 264.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 264.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.39pt; position: var(--position); text-decoration: none; white-space: pre">Increase (Decrease) to Net Interest Income Recognized from Derivatives<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 131.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 131.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 12.75pt; width: 130.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 130.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 110.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 25.5pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.41pt; position: var(--position); text-decoration: none; white-space: pre">Location of Income<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.09pt; position: var(--position); text-decoration: none; white-space: pre"> (Expense) Recognized<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 25.5pt; width: 63.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 47.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 47.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">6,174<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">4,442<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">13,820<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 47.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">13,309<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 62.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.71pt"></span></span><span style="left: 41.34pt; position: var(--position)">(674)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 42.04pt"></span></span><span style="left: 44.67pt; position: var(--position)">399<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(1,884)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 62.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">1,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 77.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 77.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 62.41pt">Interest Income<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 83.03999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(46)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(22)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(96)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 77.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(32)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 92.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-Designated Hedges<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 92.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 3.75pt; width: 111pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre; width: 66.3pt">Interest Expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 86.92999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre; width: 6.06pt">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 47.04pt"></span></span><span style="left: 49.67pt; position: var(--position)">39<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 43.71pt"></span></span><span style="left: 46.34pt; position: var(--position)">(14)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.21pt"></span></span><span style="left: 33.84pt; position: var(--position)">(2,129)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 92.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.71pt"></span></span><span style="left: 51.34pt; position: var(--position)">(7)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 107.25pt; width: 110.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 110.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 114pt; position: var(--position); top: 107.25pt; width: 111pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">5,493<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 295.5pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">4,805<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 362.25pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">9,711<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429pt; position: var(--position); top: 107.25pt; width: 63.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 63.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 24.54pt"></span></span><span style="left: 32.17pt; position: var(--position)">14,514<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 609.32pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 620.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.91pt">Represents the forward points earned on our foreign currency forward contracts, which reflect the interest rate<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 632.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">differentials between the applicable base rate for our foreign currency investments and prevailing U.S. interest rates.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 643.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.21pt">These forward contracts effectively convert the foreign currency rate exposure for such investments to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 655.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 120.67pt">USD-equivalent interest rates.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 666.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Represents the financial statement impact of proceeds (payments) from periodic settlements related to our interest<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 678.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 40.5pt">rate swap.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 689.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.35pt">Represents the realized loss on an interest rate swap related to our <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 369.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 144.96pt">Bank Loan Portfolio Joint Venture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 38.61pt"> that was<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 701.32pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 209.64pt">entered into and subsequently terminated during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 295.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.65pt"> three months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 379.79pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.52pt">June 30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 117.17pt">, and the spot rate movement<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.48pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 712.82pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 443.37pt">in our non-designated foreign currency hedges, which are marked to market and recognized in interest expense<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 528.87pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock', window );">Summary of Fair Value of Derivative Financial Instruments</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 409.51pt">The following table summarizes the fair value of our derivative financial instruments ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 336.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 222pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 222pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.99pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.14pt; position: var(--position); white-space: pre">Fair Value of Derivatives in an Asset<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 40.07pt; position: var(--position); white-space: pre"> Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 69.6pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 75.66pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 0pt; width: 133.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 16.46pt; position: var(--position); white-space: pre">Fair Value of Derivatives in a <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 133.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 25.41pt; position: var(--position); white-space: pre">Liability Position<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 84.25pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 90.31pt; position: var(--position); white-space: pre"> as of<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.31pt; position: var(--position); text-decoration: none; white-space: pre">December 31, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">9,867<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">69,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,296<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 57.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">7,885<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 72.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">4,386<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">17,752<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">69,433<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,296<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 87.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">4,386<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="9" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 495pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 495pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives not designated as hedging instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,021<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">261<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 129pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">852<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 12.62pt; position: var(--position); text-decoration: none; white-space: pre">Interest rate derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 144pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 159pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.62pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives not designated as hedging <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); text-decoration: none; white-space: pre">instruments<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">1,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,021<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">261<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 159pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 38.54pt"></span></span><span style="left: 46.17pt; position: var(--position)">852<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 185.25pt; width: 222pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 222pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 225pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 293.25pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 361.5pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 185.25pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 542pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 550pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.55pt">Included in other assets in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 249.39pt">Included in other liabilities in our consolidated balance sheets.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock', window );">Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Comprehensive Income And Operations</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.99pt">The following table presents the effect of our derivative financial instruments on our consolidated statements of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 223.11pt">comprehensive income and operations ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 281.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; position: var(--position); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 551.25pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 114.75pt"></span></span><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 492.75pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 126.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 74.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 93pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 58.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 1.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 60.75pt"></td></tr><tr style="height: 32.25pt"><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 126.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Derivatives in Hedging <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Relationships<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 14.3pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.19pt; position: var(--position); white-space: pre">Amount of Gain (Loss) Recognized in<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.49pt; width: 142.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 38.16pt; position: var(--position); white-space: pre">OCI on Derivatives<span style="display: inline-block; height: 5.54pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 104.33pt; position: var(--position); white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="2" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 0pt; width: 93pt"><div><div style="line-height: 8pt; position: var(--position); top: 35.8pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.19pt; position: var(--position); text-decoration: none; white-space: pre">Location of Gain (Loss) <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 44.99pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.3pt; position: var(--position); text-decoration: none; white-space: pre">Reclassified<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 54.18pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.87pt; position: var(--position); text-decoration: none; white-space: pre">from Accumulated OCI <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 63.37pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.18pt; position: var(--position); text-decoration: none; white-space: pre">into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 0pt; width: 120.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.24pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 42.06pt; position: var(--position); text-decoration: none; white-space: pre">Amount of<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 14.43pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.86pt; position: var(--position); text-decoration: none; white-space: pre">Gain (Loss) Reclassified from<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 23.62pt; width: 120.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.87pt; position: var(--position); text-decoration: none; white-space: pre"> Accumulated OCI into Income<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 39.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 32.25pt; width: 74.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.81pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.02pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.7pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 32.25pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 10.53pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.52pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.2pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 24.62pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 32.25pt; width: 58.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.94pt; position: var(--position); text-decoration: none; white-space: pre">Three Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.15pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.83pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.25pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 32.25pt; width: 60.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.79pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.28pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.9pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.27pt; position: var(--position); text-decoration: none; white-space: pre">Ended<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 22.01pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.95pt; position: var(--position); text-decoration: none; white-space: pre">September 30, <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 31.12pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 22.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Net Investment Hedges<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 72pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 86.25pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); white-space: pre">Foreign exchange contracts<span style="display: inline-block; height: 6.24pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 116.9pt; position: var(--position); top: -2.1839999999999997pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.056pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 86.25pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">25,174<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 86.25pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(178,488)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 86.25pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 30.69pt; position: var(--position); text-decoration: none; white-space: pre">Interest Expense<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 86.25pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 86.25pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 126.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 126.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 129.75pt; position: var(--position); top: 100.5pt; width: 74.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 74.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">25,174<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 65.25pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 22.14pt"></span></span><span style="left: 29.27pt; position: var(--position)">(178,488)<span style="display: inline-block; height: 6.24pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 275.25pt; position: var(--position); top: 100.5pt; width: 93pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 93pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 372pt; position: var(--position); top: 100.5pt; width: 58.5pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 58.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 38.63pt"></span></span><span style="left: 45.760000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 432pt; position: var(--position); top: 100.5pt; width: 60.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 60.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 40.88pt"></span></span><span style="left: 48.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 195.86pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 205.86pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.01pt">three months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.79000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.38pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 216.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 298.15pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.91pt">, we <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 319.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.2pt">paid<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.26pt; position: var(--position); text-decoration: none; white-space: pre; width: 100.1pt"> net cash settlements of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.73pt">$68.5&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 491.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 62.33pt"> on our foreign<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 217.36pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 165.06pt">currency forward contracts. 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4CC<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the notional amounts of outstanding derivative positions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A<br></p></div>
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<td style="white-space:nowrap;">us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfCommonStockOutstandingRollForwardTableTextBlock', window );">Schedule of Movement in Outstanding Shares of Class A Common Stock, Restricted Class A Common Stock and Deferred Stock Units</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.88pt">The following table details the movement in our outstanding shares of class A common stock, including restricted class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 332pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 159.56pt">common stock and deferred stock units:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 218.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 343.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 348pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.49pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 14.25pt; width: 348pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.63pt; position: var(--position); white-space: pre">Common Stock Outstanding<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 99.88pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 14.25pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 5.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 28.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Beginning balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,204,190<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 28.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,569,397<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 43.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 140.54999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">1,778<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 43.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">4,647<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 58.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Repurchase of class A common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(2,653,583)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 58.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.96pt; position: var(--position); text-decoration: none; white-space: pre">(628,884)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 73.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Issuance of restricted class A common stock, net<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 197.4pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">467,180<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 73.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">401,901<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 88.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Issuance of deferred stock units<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">32,165<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 88.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 39.62pt; position: var(--position); text-decoration: none; white-space: pre">42,338<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 103.5pt; width: 348pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 348pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Ending balance<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,051,730<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 103.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,389,399<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 467pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 477pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.04pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.53999999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">331,611<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 155.04000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.81pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 175.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">401,802<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 286.63pt"> deferred stock units held by members of our board of directors as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.98pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.41pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 488.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 500pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.66pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 133.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 279.23pt">shares issued under our dividend reinvestment program during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 412.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.15pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 490.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.83pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 494.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 59.05pt">September&#160;30,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 511.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 105.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 124.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 144.93pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 523pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.24pt">Includes <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 122.74000000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">29,140<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 150.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.21pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 171.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">41,282<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 354.41pt"> shares of restricted class A common stock issued to our board of directors during the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 534.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 160.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 163.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 243.71pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 263.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 283.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 53.25pt">, respectively<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 546pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 30.67pt">Net of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 116.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.5pt">43,832<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 143.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.39pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 162.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.96pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.01999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">102,484<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 198.51999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 28.93pt"> shares<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 325.98pt"> of restricted class A common stock forfeited under our stock-based incentive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 557.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.89pt">plans during the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 152.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.49pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 227.88pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 310.6pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.43pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 330.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 350.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.75pt">, respectively.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsDeclaredTableTextBlock', window );">Schedule of Dividend Activity</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 66.59pt">The following ta<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 125.09pt; position: var(--position); text-decoration: none; white-space: pre; width: 285.21pt">ble details our dividend activity ($ in thousands, except per share data):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 349.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.79pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Dividends declared per share of common stock<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.47<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)">1.41<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.87pt"></span></span><span style="left: 45.5pt; position: var(--position)">1.71<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Class A common stock dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">80,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">81,306<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">241,531<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">296,624<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Deferred stock unit dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">143<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">241<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">483<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 46.12pt; position: var(--position); text-decoration: none; white-space: pre">694<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 11.63pt; position: var(--position); text-decoration: none; white-space: pre">Total dividends declared<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">80,381<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">81,547<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">242,014<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.87pt"></span></span><span style="left: 30.5pt; position: var(--position)">297,318<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of Basic and Diluted Earnings Per Share, or EPS, Based on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 74.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 126.58pt"> following table sets forth the c<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.61pt; position: var(--position); text-decoration: none; white-space: pre; width: 352.8pt">alculation of basic and diluted net income per share of class A common stock based on<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.91pt">the weighted-average of both restricted and unrestricted class A common stock outstanding ($ in thousands, except per<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4100000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 77pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.31pt">share data):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 94.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 206.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 206.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 0pt; width: 143.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 143.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.01pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Basic and Diluted Earnings<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 206.25pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 81.66pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">63,397<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 27.21pt"></span></span><span style="left: 34.84pt; position: var(--position)">(56,384)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">70,009<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.21pt"></span></span><span style="left: 29.84pt; position: var(--position)">(241,279)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 26.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); white-space: pre">Weighted-average shares outstanding, basic and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 15.15pt; width: 206.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.63pt; position: var(--position); white-space: pre">diluted<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 48.37pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,812,685<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,637,101<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">171,903,127<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 17.12pt; position: var(--position); text-decoration: none; white-space: pre">173,881,116<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 206.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 206.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Per share amount, basic and diluted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.37<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(0.32)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 351.75pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 48.17pt; position: var(--position)">0.41<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 81.75pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 37.21pt"></span></span><span style="left: 44.84pt; position: var(--position)">(1.39)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 196.25pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 206.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.33pt">Represents <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 131.82999999999998pt; position: var(--position); text-decoration: none; white-space: pre; width: 68.81pt">net income (loss)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 200.64pt; position: var(--position); text-decoration: none; white-space: pre; width: 190.32pt"> attributable to Blackstone Mortgage Trust, Inc.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 218pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 51.96pt">For both the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 137.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.99pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 61.39pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 255.84pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.46000000000004pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 356.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.62pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 436.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 116.51pt">, our Convertible Notes were<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 229.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 342.17pt">t included in the calculation of diluted earnings per share, as the impact is antidilutive<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 437.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 39.98pt">. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 477.65pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.93pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 509.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 43.87pt"> for further<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 241pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.82pt">discussion of our convertible notes.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Expenses (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.01pt">General and admin<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 134.51pt; position: var(--position); text-decoration: none; white-space: pre; width: 246.98pt">istrative expenses consisted of the following ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 182pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 207pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Professional services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">3,351<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Operating and other costs<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,094<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">1,686<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,824<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,044<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 53.3pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,445<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">5,439<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">17,367<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">16,753<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Non-cash compensation expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Restricted class A common stock earned<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,130<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,728<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">21,053<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">23,400<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Director stock-based compensation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">172<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">256<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">517<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">658<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 115.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Subtotal<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,302<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">7,984<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">21,570<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 115.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">24,058<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 130.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Total general and administrative expenses<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">12,747<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">13,423<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">38,937<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 130.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 30.54pt"></span></span><span style="left: 38.17pt; position: var(--position)">40,811<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 332.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 3pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 47.28pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 58.35pt">three and nine<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 191.13pt; position: var(--position); text-decoration: none; white-space: pre; width: 63.43pt"> months ended <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 254.56pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.98pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 336.53999999999996pt; position: var(--position); text-decoration: none; white-space: pre; width: 123.12pt">, we recognized an aggregate <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 459.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$66,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 492.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 21.19pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 513.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$259,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 550.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 235.16pt">respectively, of expense related to our Multifamily Joint V<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 320.65999999999997pt; position: var(--position); text-decoration: none; white-space: pre; width: 24.96pt">enture<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 345.62pt; position: var(--position); text-decoration: none; white-space: pre; width: 54.84pt">, compared to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 400.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.59pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 403.05pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$125,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 440.55pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.61pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 460.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$668,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.66pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.84pt">, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 108.51pt">during the same periods in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 194.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 214.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of each detailed component of other operating costs and expenses that are applicable to sales and revenues, but not included in the cost of sales in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock-Based Incentive Plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Share-Based Payment Arrangement [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock', window );">Movement in Outstanding Shares of Restricted Class A Common Stock and Weighted-Average Grant Date Fair Value Per Share</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 494.95pt">The following table details the movement in our outstanding shares of restricted class A common stock and the weighted-<span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 155.31pt">average grant date fair value per share:<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 213.81pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 367.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 352.5pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 29.25pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 352.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 20.49pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 3.35pt; position: var(--position); text-decoration: none; white-space: pre">Restricted Class A<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.56pt; position: var(--position); text-decoration: none; white-space: pre"> Common Stock <span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 0pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 2.9pt; position: var(--position); text-decoration: none; white-space: pre">Weighted-Average<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.12pt; position: var(--position); text-decoration: none; white-space: pre"> Grant Date Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 20.62pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 5.9pt; position: var(--position); text-decoration: none; white-space: pre"> Value Per Share<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 29.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">December&#160;31, 2024<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">2,142,759<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 29.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">21.13<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 44.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Granted<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 34.62pt; position: var(--position); text-decoration: none; white-space: pre">511,012<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 44.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">17.88<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Vested<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20.46pt; position: var(--position); text-decoration: none; white-space: pre">(1,027,285)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 59.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">21.17<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 74.25pt; width: 352.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Forfeited<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 32.96pt; position: var(--position); text-decoration: none; white-space: pre">(43,832)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 74.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 44.62pt; position: var(--position); text-decoration: none; white-space: pre">19.41<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 89.25pt; width: 352.5pt"><div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); top: 3.75pt; width: 352.5pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Balance as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.93pt; position: var(--position); text-decoration: none; white-space: pre">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 27.12pt; position: var(--position); text-decoration: none; white-space: pre">1,582,654<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 89.25pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">20.10<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair Values (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Assets and Liabilities Measured at Fair Value on Recurring Basis</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 468.88pt">The following table summarizes our assets and liabilities measured at fair value on a recurring basis ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 100.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 114.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 138pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 42pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 55.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="7" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 0pt; width: 177pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 177pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 56.19pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 138pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 1<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 2<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.67pt; position: var(--position); text-decoration: none; white-space: pre">Level 3<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 12.75pt; width: 42pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.89pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 25.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">19,505<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 40.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 2.79pt"></span></span><span style="left: 10.42pt; position: var(--position)">72,454<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 138pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 138pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Derivatives<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 138pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 183pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 228pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 273pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">2,557<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 318pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 363pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 408pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.29pt"></span></span><span style="left: 27.919999999999998pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 453pt; position: var(--position); top: 70.5pt; width: 42pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 42pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 7.79pt"></span></span><span style="left: 15.419999999999998pt; position: var(--position)">5,238<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByBalanceSheetGroupingTextBlock', window );">Schedule of Details of Carrying Amount, Face Amount, and Fair Value of Financial Instruments</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 456.24pt">The following table details the book value, face amount, and fair value of the financial instruments described in <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 514.74pt; position: var(--position); text-decoration: none; white-space: pre; width: 27.36pt">Note 2<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 542.1pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.27pt"> ($<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 356.8pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 56.35pt">in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 114.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); top: 380.3pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 147.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 52.45pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="5" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 0pt; width: 171.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 171.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 53.56pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 21pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 147.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 12.24pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.49pt; position: var(--position); text-decoration: none; white-space: pre">Book<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.38pt; position: var(--position); text-decoration: none; white-space: pre">Face<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.39pt; position: var(--position); text-decoration: none; white-space: pre"> Amount<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 12.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); text-decoration: none; white-space: pre">Fair<span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 12.37pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 17.38pt; position: var(--position); text-decoration: none; white-space: pre">Value<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 33.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial assets<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 33.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 48pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">377,921<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 48pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.24pt; width: 14.63pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">323,483<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 62.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">17,371,200<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,188,534<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">17,407,513<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,313,582<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">19,203,126<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 62.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 7.88pt"></span></span><span style="left: 10.51pt; position: var(--position)">18,288,958<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 76.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: underline; white-space: pre">Financial liabilities<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 90.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,540,224<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,450,250<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,696,334<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,705,529<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 90.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">9,590,400<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 105pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,479,417<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">2,455,101<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,936,967<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 105pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,838,089<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 119.25pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Asset-specific debt, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">627,916<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">619,599<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,224,841<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,228,110<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 119.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,218,639<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 133.5pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Loan participations sold, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 4.57pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 39.38pt"></span></span><span style="left: 42.010000000000005pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">100,064<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 133.5pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 23.63pt"></span></span><span style="left: 26.259999999999998pt; position: var(--position)">99,822<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Secured term loans, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,774,913<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 206.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,812,573<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,732,073<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,764,437<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 147.75pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 12.38pt"></span></span><span style="left: 15.010000000000002pt; position: var(--position)">1,765,668<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td></tr><tr style="height: 14.25pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162pt; width: 147.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 147.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; left: 18pt; position: var(--position); text-decoration: none; white-space: pre">Senior secured notes, net<span style="display: inline-block; height: 6.24pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 147.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; 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height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">801,487<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 162pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); 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font-size: 0; text-align: left; vertical-align: top"><div style="left: 264.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">262,899<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 323.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">263,616<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 381.75pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.24pt; width: 19.13pt"></span></span><span style="left: 21.759999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.24pt; width: 2.99pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 440.25pt; position: var(--position); top: 176.25pt; width: 54.75pt"><div><div style="line-height: 9pt; position: var(--position); top: 3.75pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 9pt; 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-13<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-12<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br></p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Variable Interest Entities (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock', window );">Summary of Assets and Liabilities of Consolidated VIE</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 376.79pt">The following table details the assets and liabilities of our consolidated VIEs ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 435.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 12pt; position: var(--position); top: 170pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 8.32pt"></span></span></div><div style="position: var(--position); top: 183.8pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 336.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 81pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 73.5pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 336.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.99pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre"> <span style="display: inline-block; height: 5.54pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 0pt; width: 81pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 7.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30, 2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 0pt; width: 73.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 4.44pt; position: var(--position); text-decoration: none; white-space: pre">December 31, 2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 12.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 27.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Cash and cash equivalents<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 27.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">40,299<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 27.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 46.92pt; position: var(--position)">9,145<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 42.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 42.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,946,640<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 42.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,338,201<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 57.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Current expected credit loss reserve<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 57.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.46pt"></span></span><span style="left: 41.09pt; position: var(--position)">(133,345)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 57.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 30.96pt"></span></span><span style="left: 33.59pt; position: var(--position)">(202,400)<span style="display: inline-block; height: 6.93pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 72.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 20pt; position: var(--position); text-decoration: none; white-space: pre">Loans receivable, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 72.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,813,295<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 72.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,135,801<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 87.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Real estate owned, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 87.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">525,084<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 87.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">177,322<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 102.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 102.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 41.79pt"></span></span><span style="left: 44.42pt; position: var(--position)">234,188<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 102.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">126,518<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 117.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total assets<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 117.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">3,612,866<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 117.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">2,448,786<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 132.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 3pt double #000; font-size: 0; text-align: left; vertical-align: top"></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 147.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Securitized debt obligations, net<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 147.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,470,067<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 147.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,936,956<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 162.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 10.63pt; position: var(--position); text-decoration: none; white-space: pre">Other liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 162.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 46.79pt"></span></span><span style="left: 49.42pt; position: var(--position)">41,177<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 162.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.29pt"></span></span><span style="left: 41.92pt; position: var(--position)">13,277<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 177.75pt; width: 336.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 336.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 19.63pt; position: var(--position); text-decoration: none; white-space: pre">Total liabilities<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 336.75pt; position: var(--position); top: 177.75pt; width: 81pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 29.29pt"></span></span><span style="left: 36.92pt; position: var(--position)">2,511,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 421.5pt; position: var(--position); top: 177.75pt; width: 73.5pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 73.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.79pt"></span></span><span style="left: 29.419999999999998pt; position: var(--position)">1,950,233<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Incurred Amounts by Related Parties</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.67pt; position: var(--position); text-decoration: none; white-space: pre; width: 15.53pt">The<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 111.2pt; position: var(--position); text-decoration: none; white-space: pre; width: 306.32pt"> following table details the costs incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 216.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 209.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 56.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 54.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 53.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 0pt; width: 114pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.59pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 114pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.58pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 0pt; width: 111pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.01pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.31pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 111pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 31.08pt; position: var(--position); text-decoration: none; white-space: pre">September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.17pt; position: var(--position); text-decoration: none; white-space: pre">Asset Class<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 21.75pt; width: 56.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.12pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 21.75pt; width: 54.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.37pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 21.75pt; width: 53.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.62pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 34.5pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Brio Real Estate Services, LLC, Brio Real Estate <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">(UK) Ltd., and Brio Real Estate (AUS) Pty Ltd.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 193.82999999999998pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 34.5pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">1,244<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 34.5pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">2,345<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 34.5pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 24.75pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 59.25pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Corporate Services, LLC and <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Revantage Global Services Europe S.&#224; r.l.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 170.76pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 21.27pt; position: var(--position); text-decoration: none; white-space: pre">n/a<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 59.25pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">353<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">384<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 59.25pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">696<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 59.25pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 14.17pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.54pt"></span></span><span style="left: 34.17pt; position: var(--position)">945<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 84pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Perform Properties, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 102.25pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 14.62pt; position: var(--position); text-decoration: none; white-space: pre">Office<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 84pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 27.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">1,903<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">38<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 84pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">2,797<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 84pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">82<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 99pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LivCor, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 55.35pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 99pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">46<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 99pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">322<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 99pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 114pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BRE Hotels &amp; Resorts, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 117.22999999999999pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 5.18pt; position: var(--position); text-decoration: none; white-space: pre">Hospitality<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 114pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 34.54pt"></span></span><span style="left: 37.17pt; position: var(--position)">284<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 114pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 25.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">1,153<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 114pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 129pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">LendingOne, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 76.44pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 209.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 3.24pt; position: var(--position); text-decoration: none; white-space: pre">Multifamily<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 129pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 39.54pt"></span></span><span style="left: 42.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 38.04pt"></span></span><span style="left: 40.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 129pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 33.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">158<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 129pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 36.54pt"></span></span><span style="left: 39.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 144pt; width: 209.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 209.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 267pt; position: var(--position); top: 144pt; width: 56.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 56.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 22.04pt"></span></span><span style="left: 29.669999999999998pt; position: var(--position)">3,830<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 326.25pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 28.04pt"></span></span><span style="left: 35.67pt; position: var(--position)">422<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 384pt; position: var(--position); top: 144pt; width: 54.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 54.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 20.54pt"></span></span><span style="left: 28.169999999999998pt; position: var(--position)">7,471<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 441.75pt; position: var(--position); top: 144pt; width: 53.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 53.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 19.04pt"></span></span><span style="left: 26.669999999999998pt; position: var(--position)">1,027<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 380.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 392.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">As applicable, provides management support, operational support, corporate support, and transaction support<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 404.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 34.67pt">services <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 120.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.81pt">to certain of our investments directly.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 415.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">As applicable, provides management support, operational support, and corporate support services to certain of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 427.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.28pt">REO assets directly.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 166.78pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 438.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 299.08pt">Successor entity to EQ Management, LLC that provides the same services.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 450.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 284.66pt">Provides loan origination services related to certain of our investments.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 370.16pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 405.91pt; position: var(--position); text-decoration: none; white-space: pre; width: 147.53pt">The following table details the costs<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 65.5pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 174.82pt">incurred for these services ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="position: var(--position); text-align: justify; text-align-last: var(--justify); top: 95pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 207pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 69.75pt"></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 9.42pt; position: var(--position); text-decoration: none; white-space: pre">Three Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="3" rowspan="1" style="border-bottom: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 0pt; width: 142.5pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 142.5pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 11.64pt; position: var(--position); text-decoration: none; white-space: pre">Nine Months Ended September 30,<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 12.75pt"><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2025<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; border-top: 1pt solid #000000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 12.75pt; width: 69.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 4.12pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 26.87pt; position: var(--position); text-decoration: none; white-space: pre">2024<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 25.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">BTIG, LLC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 49.800000000000004pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">84<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 25.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">124<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 40.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Gryphon Mutual Property Americas IC<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 159.72pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">697<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">57<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 40.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">1,845<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 40.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">142<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 55.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Blackstone internal audit services<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">24<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 55.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">71<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 70.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Lexington National Land Services<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 139.96pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">170<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">216<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 70.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 85.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); white-space: pre">Blackstone Securities Partners L.P.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: normal; left: 143.29pt; position: var(--position); top: -2.4254999999999995pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 4.5045pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">30<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">109<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 85.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 53.04pt"></span></span><span style="left: 55.67pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 100.5pt; width: 207pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 207pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Total<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 207pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">897<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 279.75pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">165<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 352.5pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 35.54pt"></span></span><span style="left: 43.17pt; position: var(--position)">2,170<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 425.25pt; position: var(--position); top: 100.5pt; width: 69.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 4.42pt; width: 69.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.04pt"></span></span><span style="left: 50.67pt; position: var(--position)">337<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 215.5pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 5.25pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 227.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Affiliates of our Manager own an interest in the controlling entity of BTIG, LLC, or BTIG. BTIG has been engaged<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 239.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 348.04pt">as a broker for repurchases of our Senior Secured Notes and Convertible Notes. D<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 433.54pt; position: var(--position); text-decoration: none; white-space: pre; width: 41.38pt">uring the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 474.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 78.57pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 250.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 169.3pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.87pt">, there was <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 220.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 10pt">no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 230.17pt; position: var(--position); text-decoration: none; white-space: pre; width: 88.58pt"> repurchase activity. <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 318.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 49.1pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 367.85pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.07pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 446.92pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.29pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 451.21pt; position: var(--position); text-decoration: none; white-space: pre; width: 83.8pt">September&#160;30, 2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 535.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.44pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 262.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 52.64pt">repurchased <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 138.14pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$30.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 193.86pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.17pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 217.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 55.72pt">$33.8&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 272.75pt; position: var(--position); text-decoration: none; white-space: pre; width: 280.72pt"> of our Senior Secured Notes and Convertible Notes, respectively,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 273.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.67pt">utilizing BTIG as a broker<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 197.17000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt">.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 199.67000000000002pt; position: var(--position); text-decoration: none; white-space: pre; width: 353.75pt"> Additionally, we have engaged BTIG as a sales agent to sell shares of our class A<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 285.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 253.51pt">common stock under one of our ATM Agreements. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 339.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 75.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 414.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 417.03pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 497.27pt; position: var(--position); text-decoration: none; white-space: pre; width: 19.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 516.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 536.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 16.66pt">, we<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 296.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">did not sell any shares under our ATM Agreements. Our engagements of BTIG are on terms equivalent to those of<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 308.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 210.82pt">unaffiliated third parties under similar arrangements.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 296.32pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 319.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">In the first quarter of 2024, in order to provide insurance for our REO assets, we became a member of Gryphon<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 331.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">Mutual Property Americas IC, or Gryphon, a captive insurance company owned by us and other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 342.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.89pt">investment vehicles. A Blackstone affiliate provides oversight and advisory services to Gryphon and receives fees<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 354.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.86pt">based on a percentage of premiums paid for such policies. The fees and expenses of Gryphon, including insurance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.36pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 365.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">premiums and fees paid to its manager, are paid annually and borne by us and the other Blackstone-advised<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 377.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">investment vehicles that are members of Gryphon pro rata based on insurance premiums paid for each party&#8217;s<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 388.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 141.49pt">respective properties. During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 226.99pt; position: var(--position); text-decoration: none; white-space: pre; width: 79.51pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 4.51pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 311.01pt; position: var(--position); text-decoration: none; white-space: pre; width: 84.24pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 395.25pt; position: var(--position); text-decoration: none; white-space: pre; width: 23.45pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 20pt">2024<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 438.7pt; position: var(--position); text-decoration: none; white-space: pre; width: 44.88pt">, we paid <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 483.58pt; position: var(--position); text-decoration: none; white-space: pre; width: 50.86pt">$1.4&#160;million<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 534.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 18.94pt"> and<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.38pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 400.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 37.5pt">$400,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 123pt; position: var(--position); text-decoration: none; white-space: pre; width: 430.39pt">, respectively, to Gryphon for insurance costs, inclusive of premiums, capital surplus contributions, taxes,<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 411.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 247.19pt">and our pro rata share of other expenses. Of these amounts, <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 332.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$86,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 365.19pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt"> and <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 386.02pt; position: var(--position); text-decoration: none; white-space: pre; width: 32.5pt">$30,000<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 418.52pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.83pt">, respectively, was attributable to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.35pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 423.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">the fee paid to a Blackstone affiliate to provide oversight and management services to Gryphon. The amounts<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 434.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">included in the table above reflect the amortization of the insurance expense over the relevant periods of the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 446.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.54pt">respective policies.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 457.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">Lexington National Land Services, or LNLS, a title agent company owned by Blackstone, acts as an agent for one or<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 469.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.96pt">more underwriters in issuing title policies and/or providing support services in connection with investments made by<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.46pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 480.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">us, Blackstone and their affiliates and related parties, and third-parties. LNLS focuses on transactions in rate-<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 492.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.99pt">regulated states where the cost of title insurance is non-negotiable. LNLS will not perform services in non-regulated<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 503.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.92pt">states for us, unless (i) in the context of a portfolio transaction that includes properties in rate-regulated states, (ii) as<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 515.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.83pt">part of a syndicate of title insurance companies where the rate is negotiated by other insurers or their agents, (iii)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.3299999999999pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 526.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">when a third-party is paying all or a material portion of the premium or (iv) when providing only support services to<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 538.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.87pt">the underwriter. LNLS earns fees, which would have otherwise been paid to third parties, by providing title agency<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.37pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 549.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.97pt">services and facilitating placement of title insurance with underwriters. Blackstone receives distributions from LNLS<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 561.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.81pt">in connection with investments made by us based on its equity interest in LNLS. In each case, there will be no<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 572.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 111.25pt">related expense offset to us.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 584.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 46.74pt">During the <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 132.24pt; position: var(--position); text-decoration: none; white-space: pre; width: 76.71pt">nine months ended<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 208.95pt; position: var(--position); text-decoration: none; white-space: pre; width: 3.11pt"> <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 212.06pt; position: var(--position); text-decoration: none; white-space: pre; width: 81.44pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 293.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 259.99pt">, Blackstone Securities Partners L.P., or BSP, an affiliate of our<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.49pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 595.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.94pt">Manager, was engaged as a member of the syndicate for both our B-6 Term Loan and our B-7 Term Loan. These<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 607.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 301.56pt">engagements were on terms equivalent to those of unaffiliated third parties.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Sep. 30, 2025</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ContractualObligationFiscalYearMaturityScheduleTableTextBlock', window );">Schedule of Principal Contractual Obligations</a></td>
<td class="text"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 192.81pt">Our contractual principal debt repayments as of <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 251.31pt; position: var(--position); text-decoration: none; white-space: pre; width: 80.22pt">September&#160;30, 2025<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 331.53pt; position: var(--position); text-decoration: none; white-space: pre; width: 134.89pt"> were as follows ($ in thousands):<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 466.42pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span><div style="position: var(--position); top: 89pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 495pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 81.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 3.75pt"></td><td colspan="1" rowspan="1" style="padding: 0; width: 65.25pt"></td></tr><tr style="height: 21.75pt"><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 0pt; width: 81.75pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 32.44pt; position: var(--position); text-decoration: none; white-space: pre">Year<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 18.86pt; position: var(--position); white-space: pre">Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 8.88pt; position: var(--position); white-space: pre">Asset-Specific <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 21.38pt; position: var(--position); white-space: pre">Debt<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 37.8pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(1)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); white-space: pre">Term <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 19.15pt; position: var(--position); white-space: pre">Loans<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 40.03pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(2)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 6.76pt; position: var(--position); text-decoration: none; white-space: pre">Senior Secured <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 23.08pt; position: var(--position); text-decoration: none; white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 3.93pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 12.42pt; position: var(--position); white-space: pre">Convertible <span style="display: inline-block; height: 5.41pt"></span></span></div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.05pt; position: var(--position); white-space: pre">Notes<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 39.14pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(3)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 0pt; width: 65.25pt"><div><div style="line-height: 8pt; position: var(--position); top: 13.12pt; width: 65.25pt"><span style="font-family: 'Times New Roman', serif; font-size: 8pt; font-style: normal; font-weight: bold; left: 20.49pt; position: var(--position); white-space: pre">Total<span style="display: inline-block; height: 5.41pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 5.2pt; font-style: normal; font-weight: bold; left: 38.7pt; position: var(--position); top: -1.8935pt; vertical-align: super; white-space: pre">(4)<span style="display: inline-block; height: 3.5165pt"></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 21.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2025 (remaining)<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">199,342<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 38.67pt; position: var(--position)">3,754<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 43.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 21.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">203,096<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 36.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2026<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,313,383<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">324,282<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 36.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,637,665<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 51.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2027<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,821,019<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">76,549<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">335,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 51.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">3,514,056<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 66.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2028<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,320,197<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 31.04pt"></span></span><span style="left: 33.67pt; position: var(--position)">15,015<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 66.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,335,212<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 81.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">2029<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,162,807<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">390,357<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">448,862<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">450,000<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 81.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,452,026<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 96.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 2.63pt; position: var(--position); text-decoration: none; white-space: pre">Thereafter<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,731,584<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 26.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">162,984<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,001,199<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 48.54pt"></span></span><span style="left: 51.17pt; position: var(--position)">&#8212;<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #ffffff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #ffffff; border-bottom: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 96.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)"><span style="display: inline-block; height: 6.93pt; width: 18.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">2,895,767<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr><tr style="height: 15pt"><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"><div style="left: 0pt; position: var(--position); top: 111.75pt; width: 81.75pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 81.75pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 1.63pt; position: var(--position); text-decoration: none; white-space: pre">Total obligation<span style="display: inline-block; height: 6.93pt"></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 85.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">9,548,332<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 154.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">629,890<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 223.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 13.54pt"></span></span><span style="left: 21.169999999999998pt; position: var(--position)">1,808,127<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 292.5pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">785,316<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 360.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 21.04pt"></span></span><span style="left: 28.669999999999998pt; position: var(--position)">266,157<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td><td colspan="1" rowspan="1" style="background-color: #cceeff; font-size: 0; text-align: left; vertical-align: top"></td><td colspan="1" rowspan="1" style="background-color: #cceeff; border-bottom: 3pt double #000; border-top: 1pt solid #000; font-size: 0; text-align: left; vertical-align: top"><div style="left: 429.75pt; position: var(--position); top: 111.75pt; width: 65.25pt"><div><div style="line-height: 10pt; position: var(--position); top: 3.75pt; width: 65.25pt"><span style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; text-decoration: none; white-space: pre"><span style="left: 2.63pt; position: var(--position)">$<span style="display: inline-block; height: 6.93pt; width: 8.54pt"></span></span><span style="left: 16.169999999999998pt; position: var(--position)">13,037,822<span style="display: inline-block; height: 6.93pt; width: 3.33pt"></span></span></span></div></div></div></td></tr></tbody></table></div></div></div><div style="position: var(--position); top: 220.75pt; width: 612pt"><div style="font-size: 0pt; left: 58.5pt; position: var(--position); top: 0pt; width: 54pt"><div><table style="border-collapse: collapse; display: inline-table; width: 100%"><tbody><tr style="height: 0"><td colspan="1" rowspan="1" style="padding: 0; width: 54pt"></td></tr><tr style="height: 4.5pt"><td colspan="1" rowspan="1" style="border-bottom: 0.75pt solid #000000; font-size: 0; text-align: left; vertical-align: top"></td></tr></tbody></table></div></div></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 232.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(1)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">Our secured debt and asset-specific debt agreements are generally term-matched to their underlying collateral.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 243.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.93pt">Therefore, the allocation of payments under such agreements is generally allocated based on the maximum maturity<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4300000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 255.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.9pt">date of the collateral loans, assuming all extension options are exercised by the borrower. In limited instances, the<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 266.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 217.75pt">maturity date of the respective debt agreement is used.<span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 278.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(2)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 274.79pt">The Term Loans are partially amortizing, with an amount equal to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 360.29pt; position: var(--position); text-decoration: none; white-space: pre; width: 20.83pt">1.0%<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 381.12pt; position: var(--position); text-decoration: none; white-space: pre; width: 172.3pt"> per annum of the initial principal balance<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.4200000000001pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 289.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 153.97pt">due in quarterly installments. Refer to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 239.47pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 11<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 271.39pt; position: var(--position); text-decoration: none; white-space: pre; width: 154.29pt"> for further details on our Term Loans.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 425.68pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 301.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(3)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 467.95pt">Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.45pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 312.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 10.27pt">to <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 95.77pt; position: var(--position); text-decoration: none; white-space: pre; width: 31.92pt">Note 13<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 127.69pt; position: var(--position); text-decoration: none; white-space: pre; width: 178.71pt"> for further details on our Convertible Notes.<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 306.4pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 324.25pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 58.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 11.66pt">(4)<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 92.72pt">Total does not include <span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 178.22pt; position: var(--position); text-decoration: none; white-space: pre; width: 17.5pt">$2.5<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 195.72pt; position: var(--position); text-decoration: none; white-space: pre; width: 357.72pt"> billion of consolidated securitized debt obligations, as the satisfaction of these liabilities<span style="display: inline-block; height: 6.93pt"></span></span><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 553.44pt; position: var(--position); text-decoration: none; white-space: pre; width: 2.5pt"> <span style="display: inline-block; height: 6.93pt"></span></span></div><div style="font-size: 12pt; line-height: 10pt; position: var(--position); text-align: justify; text-align-last: var(--justify); top: 335.75pt; width: 612pt"><span style="font-family: 'Times New Roman', serif; font-size: 10pt; font-style: normal; font-weight: normal; left: 85.5pt; position: var(--position); text-decoration: none; white-space: pre; width: 149.02pt">will not require cash outlays from us.<span style="display: inline-block; height: 6.93pt"></span></span></div><span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Subsection 04<br> -Subparagraph (a)<br> -Publisher SEC<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Details)<br></strong></div></th>
<th class="th" colspan="3">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>real_estate_owned_asset </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Dec. 31, 2017</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedCash', window );">Restricted cash</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale', window );">Number of REO assets classified as held for sale investment | real_estate_owned_asset</a></td>
<td class="nump">10<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GuaranteeObligationsMaximumExposure', window );">Maximum guarantee</a></td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="nump">$ 5,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GuaranteeObligationsCurrentCarryingValue', window );">Guarantee liability</a></td>
<td class="nump">32,000<span></span>
</td>
<td class="nump">32,000<span></span>
</td>
<td class="nump">32,000<span></span>
</td>
<td class="nump">32,000<span></span>
</td>
<td class="nump">32,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="nump">695,719,000<span></span>
</td>
<td class="nump">$ 695,719,000<span></span>
</td>
<td class="nump">$ 695,719,000<span></span>
</td>
<td class="nump">$ 733,936,000<span></span>
</td>
<td class="nump">$ 733,936,000<span></span>
</td>
<td class="nump">$ 740,851,000<span></span>
</td>
<td class="nump">$ 741,541,000<span></span>
</td>
<td class="nump">$ 1,011,059,000<span></span>
</td>
<td class="nump">$ 893,938,000<span></span>
</td>
<td class="nump">$ 751,370,000<span></span>
</td>
<td class="nump">$ 576,936,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">$ 18,066,919,000<span></span>
</td>
<td class="nump">$ 18,066,919,000<span></span>
</td>
<td class="nump">$ 18,066,919,000<span></span>
</td>
<td class="nump">$ 19,047,518,000<span></span>
</td>
<td class="nump">$ 19,047,518,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember', window );">Net Lease Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership percentage</a></td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Minimum | Capitalization rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansHeldForSaleMeasurementInput', window );">Measurement input</a></td>
<td class="nump">0.0600<span></span>
</td>
<td class="nump">0.0600<span></span>
</td>
<td class="nump">0.0600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Minimum | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansHeldForSaleMeasurementInput', window );">Measurement input</a></td>
<td class="nump">0.0700<span></span>
</td>
<td class="nump">0.0700<span></span>
</td>
<td class="nump">0.0700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Maximum | Capitalization rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansHeldForSaleMeasurementInput', window );">Measurement input</a></td>
<td class="nump">0.0800<span></span>
</td>
<td class="nump">0.0800<span></span>
</td>
<td class="nump">0.0800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Maximum | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansHeldForSaleMeasurementInput', window );">Measurement input</a></td>
<td class="nump">0.1500<span></span>
</td>
<td class="nump">0.1500<span></span>
</td>
<td class="nump">0.1500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Fair Value, Nonrecurring</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="nump">$ 505,400,000<span></span>
</td>
<td class="nump">$ 505,400,000<span></span>
</td>
<td class="nump">$ 505,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">$ 1,200,000,000<span></span>
</td>
<td class="nump">$ 1,200,000,000<span></span>
</td>
<td class="nump">$ 1,200,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Fair Value, Nonrecurring | Minimum | Capitalization rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PropertyPlantAndEquipmentMeasurementInput', window );">Real estate owned, measurement input</a></td>
<td class="nump">0.0600<span></span>
</td>
<td class="nump">0.0600<span></span>
</td>
<td class="nump">0.0600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Fair Value, Nonrecurring | Minimum | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PropertyPlantAndEquipmentMeasurementInput', window );">Real estate owned, measurement input</a></td>
<td class="nump">0.0775<span></span>
</td>
<td class="nump">0.0775<span></span>
</td>
<td class="nump">0.0775<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Fair Value, Nonrecurring | Maximum | Capitalization rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PropertyPlantAndEquipmentMeasurementInput', window );">Real estate owned, measurement input</a></td>
<td class="nump">0.0855<span></span>
</td>
<td class="nump">0.0855<span></span>
</td>
<td class="nump">0.0855<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Level 3 | Fair Value, Nonrecurring | Maximum | Discount rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PropertyPlantAndEquipmentMeasurementInput', window );">Real estate owned, measurement input</a></td>
<td class="nump">0.1055<span></span>
</td>
<td class="nump">0.1055<span></span>
</td>
<td class="nump">0.1055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember', window );">Building</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedUsefulLife', window );">Estimated useful lives (in years)</a></td>
<td class="text">40 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold Improvements</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedUsefulLife', window );">Estimated useful lives (in years)</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember', window );">Multifamily Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember', window );">Multifamily Joint Venture | Walker &amp; Dunlop</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners', window );">Minority participation in senior term facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_PropertyPlantAndEquipmentMeasurementInput">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Property, Plant And Equipment, Measurement Input</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_PropertyPlantAndEquipmentMeasurementInput</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Number Of Assets Classified As Held-For-Sale</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Useful Life</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GuaranteeObligationsCurrentCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The current carrying amount of the liability for the freestanding or embedded guarantor's obligations under the guarantee or each group of similar guarantees.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GuaranteeObligationsCurrentCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GuaranteeObligationsMaximumExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GuaranteeObligationsMaximumExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansHeldForSaleMeasurementInput">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value of input used to measure loan, held for sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansHeldForSaleMeasurementInput</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(1)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputCapRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputCapRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputDiscountRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MeasurementInputTypeAxis=us-gaap_MeasurementInputDiscountRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_BuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=bxmt_WalkerDunlopMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=bxmt_WalkerDunlopMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Overall Statistics for Loans Receivable Portfolio (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="4">9 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Principal balance</a></td>
<td class="nump">$ 18,188,534<span></span>
</td>
<td class="nump">$ 18,188,534<span></span>
</td>
<td class="nump">$ 18,188,534<span></span>
</td>
<td class="nump">$ 18,188,534<span></span>
</td>
<td class="nump">$ 19,203,126<span></span>
</td>
<td class="nump">$ 19,203,126<span></span>
</td>
<td class="nump">$ 19,203,126<span></span>
</td>
<td class="nump">$ 19,203,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Unfunded loan commitments</a></td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
<td class="nump">$ 8,300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansReceivableBasisSpreadOnVariableRate', window );">Weighted-average cash coupon (percentage)</a></td>
<td class="nump">3.24%<span></span>
</td>
<td class="nump">3.24%<span></span>
</td>
<td class="nump">3.24%<span></span>
</td>
<td class="nump">3.24%<span></span>
</td>
<td class="nump">3.46%<span></span>
</td>
<td class="nump">3.46%<span></span>
</td>
<td class="nump">3.46%<span></span>
</td>
<td class="nump">3.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield', window );">Weighted-average all-in yield (percentage)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.46%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.78%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm', window );">Weighted-average maximum maturity (years)</a></td>
<td class="text">2 years 4 months 24 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2 years 1 month 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration', window );">Debt instrument, variable interest rate, type [Extensible Enumeration]</a></td>
<td class="text">SOFR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">SOFR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate', window );">Percentage of loans by principal balance, floating rate</a></td>
<td class="nump">98.00%<span></span>
</td>
<td class="nump">98.00%<span></span>
</td>
<td class="nump">98.00%<span></span>
</td>
<td class="nump">98.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate', window );">Percentage of loans by principal balance, fixed rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions', window );">Percent of loans subject to prepayment restrictions</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="nump">31.00%<span></span>
</td>
<td class="nump">31.00%<span></span>
</td>
<td class="nump">31.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions', window );">Percent of loans not subject to prepayment restrictions</a></td>
<td class="nump">69.00%<span></span>
</td>
<td class="nump">69.00%<span></span>
</td>
<td class="nump">69.00%<span></span>
</td>
<td class="nump">69.00%<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="nump">90.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Unfunded loan commitments</a></td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Basis Spread on Variable Rate, Weighted Average All-In Yield</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableBasisSpreadOnVariableRateWeightedAverageAllInYield</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Percent Of Loans Not Subject To Prepayment Restrictions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivablePercentOfLoansNotSubjectToPrepaymentRestrictions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Percent Of Loans Subject To Prepayment Restrictions</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivablePercentOfLoansSubjectToPrepaymentRestrictions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loans Receivable, Percentage Of Loans By Principal Balance, Fixed Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFixedRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loans Receivable, Percentage Of Loans By Principal Balance, Floating Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoansReceivablePercentageOfLoansByPrincipalBalanceFloatingRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_MortgageLoanOnRealEstateFinalMaturityTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Mortgage Loan On Real Estate Final Maturity Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_MortgageLoanOnRealEstateFinalMaturityTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates type of variable interest rate on debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 470<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>enum2:enumerationSetItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, fee, and loan in process, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansReceivableBasisSpreadOnVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage added to reference rate used to compute variable rate on loan receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansReceivableBasisSpreadOnVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OffBalanceSheetCreditLossLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482454/460-10-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OffBalanceSheetCreditLossLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Loans Receivable, Net - Schedule Of Loan Receivable Portfolio Based On Floor Rate (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">$ 18,188,534<span></span>
</td>
<td class="nump">$ 19,203,126<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivableFixedRateFloorMember', window );">Fixed Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">318,006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.00OrNoFloorMember', window );">0.00% or no floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">6,762,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.01To1.00FloorMember', window );">0.01% to 1.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">3,600,976<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable1.01To2.00FloorMember', window );">1.01% to 2.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">2,048,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable2.01To3.00FloorMember', window );">2.01% to 3.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">3,931,142<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable3.01OrMoreFloorMember', window );">3.01% or more floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">$ 1,527,392<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_RangeAxis=srt_WeightedAverageMember', window );">Weighted Average</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableWeightedAverageIndexRateFloor', window );">Weighted-average index rate floor</a></td>
<td class="nump">1.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors', window );">Excluding 0.0% index rate floors, weighted-average index rate floor</a></td>
<td class="nump">1.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">$ 10,387,621<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | Fixed Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">180,857<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | 0.00% or no floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">1,796,816<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | 0.01% to 1.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">2,628,392<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | 1.01% to 2.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">676,479<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | 2.01% to 3.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">3,791,304<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=currency_USD', window );">USD | 3.01% or more floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">1,313,773<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">7,800,913<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | Fixed Rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">137,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | 0.00% or no floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">4,966,038<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | 0.01% to 1.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">972,584<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | 1.01% to 2.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">1,371,685<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | 2.01% to 3.00% floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">139,838<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CurrencyAxis=srt_OtherCurrencyMember', window );">Non-USD | 3.01% or more floor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loans receivable</a></td>
<td class="nump">$ 213,619<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableWeightedAverageIndexRateFloor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Weighted Average Index Rate Floor</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableWeightedAverageIndexRateFloor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Weighted Average Index Rate Floor, Excluding Zero Percent Interest Rate Floors</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableWeightedAverageIndexRateFloorExcludingZeroPercentInterestRateFloors</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, fee, and loan in process, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivableFixedRateFloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivableFixedRateFloorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.00OrNoFloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.00OrNoFloorMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.01To1.00FloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable0.01To1.00FloorMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable1.01To2.00FloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable1.01To2.00FloorMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable2.01To3.00FloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable2.01To3.00FloorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable3.01OrMoreFloorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_FinancingReceivable3.01OrMoreFloorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_WeightedAverageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_WeightedAverageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=srt_OtherCurrencyMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Activity Relating to Loans Receivable Portfolio (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward', window );"><strong>Principal Balance</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Beginning balance</a></td>
<td class="nump">$ 19,203,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLoansReceivable', window );">Loan fundings</a></td>
<td class="nump">3,931,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds', window );">Loan repayments, sales, and cost-recovery proceeds</a></td>
<td class="num">(5,048,125)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff', window );">Charge-offs</a></td>
<td class="num">(208,010)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TransferToOtherRealEstate', window );">Transfer to real estate owned</a></td>
<td class="num">(358,088)<span></span>
</td>
<td class="num">$ (139,239)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets', window );">Transfer to other assets, net</a></td>
<td class="num">(49,158)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaidInKindInterest', window );">Payment-in-kind interest, net of interest received</a></td>
<td class="nump">13,448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation', window );">Unrealized gain (loss) on foreign currency translation</a></td>
<td class="nump">703,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Ending balance</a></td>
<td class="nump">18,188,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward', window );"><strong>Deferred Fees / Other Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount', window );">Beginning balance</a></td>
<td class="num">(155,608)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds', window );">Loan repayments, sales, and cost-recovery proceeds</a></td>
<td class="num">(39,424)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff', window );">Charge-offs</a></td>
<td class="nump">79,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation', window );">Unrealized gain (loss) on foreign currency translation</a></td>
<td class="num">(2,275)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease', window );">Deferred fees and other items</a></td>
<td class="num">(48,716)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet', window );">Amortization of fees and other items</a></td>
<td class="nump">45,390<span></span>
</td>
<td class="nump">50,568<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount', window );">Ending balance</a></td>
<td class="num">(121,615)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward', window );"><strong>Net Book Value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Beginning balance</a></td>
<td class="nump">19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLoansReceivable', window );">Loan fundings</a></td>
<td class="nump">3,931,823<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds', window );">Loan repayments, sales, and cost-recovery proceeds</a></td>
<td class="num">(5,087,549)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff', window );">Charge-offs</a></td>
<td class="num">(128,992)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_TransferToOtherRealEstate', window );">Transfer to real estate owned</a></td>
<td class="num">(358,088)<span></span>
</td>
<td class="num">(139,239)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets', window );">Transfer to other assets</a></td>
<td class="num">(49,158)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaidInKindInterest', window );">Payment-in-kind interest</a></td>
<td class="nump">13,448<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation', window );">Unrealized gain (loss) on foreign currency translation</a></td>
<td class="nump">701,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease', window );">Deferred fees and other items</a></td>
<td class="num">(48,716)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet', window );">Amortization of fees and other items</a></td>
<td class="nump">45,390<span></span>
</td>
<td class="nump">50,568<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Ending balance</a></td>
<td class="nump">18,066,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">$ (1,011,059)<span></span>
</td>
<td class="num">$ (740,851)<span></span>
</td>
<td class="num">$ (741,541)<span></span>
</td>
<td class="num">$ (733,936)<span></span>
</td>
<td class="num">$ (893,938)<span></span>
</td>
<td class="num">$ (751,370)<span></span>
</td>
<td class="num">$ (576,936)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">$ 17,371,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Before Allowance For Credit Loss, Fee And Loan In Process, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableBeforeAllowanceForCreditLossFeeAndLoanInProcessSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Deferred Fees And Other Items, Increase (Decrease)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableDeferredFeesAndOtherItemsIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee And Loan In Process</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Fee, And Loan In Process, Writeoff</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcessWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance for Credit Loss</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Transfer To Other Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossTransferToOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Unrealized Gain (Loss) On Foreign Currency Translation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossUnrealizedGainLossOnForeignCurrencyTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Writeoff</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Gain (Loss) on Foreign Currency Translation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableGainLossOnForeignCurrencyTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceeds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Unrealized Gain (Loss) On Foreign Currency Translation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountUnrealizedGainLossOnForeignCurrencyTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Writeoff</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableUnamortizedLoanFeeCostAndPurchasePremiumDiscountWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDeferredLoanOriginationFeesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The net increase(decrease) in interest income during the period representing the allocation of deferred loan origination fees less deferred loan origination costs using the effective interest method over the term of the debt arrangement to which they pertain taking into account the effect of prepayments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481655/310-20-35-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDeferredLoanOriginationFeesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, fee, and loan in process, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unamortized loan commitment, origination, and other costs (fees) and purchase premium (discount) on financing receivable recognized as adjustment to yield. Excludes financing receivable covered under loss sharing agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481598/310-20-45-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -SubTopic 20<br> -Topic 310<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481569/310-20-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableUnamortizedLoanCommitmentOriginationFeeAndPremiumDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaidInKindInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaidInKindInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireLoansReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of loan receivable arising from the financing of goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireLoansReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransferToOtherRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Value transferred from mortgage loans to real estate owned (REO) in noncash transactions.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-4<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-3<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransferToOtherRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Property Type and Geographic Distribution of Properties Securing Loans in Portfolio (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">9 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans</a></td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">$ (740,851)<span></span>
</td>
<td class="num">$ (741,541)<span></span>
</td>
<td class="num">$ (1,011,059)<span></span>
</td>
<td class="num">$ (893,938)<span></span>
</td>
<td class="num">$ (751,370)<span></span>
</td>
<td class="num">$ (576,936)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">16,793,738<span></span>
</td>
<td class="nump">16,793,738<span></span>
</td>
<td class="nump">16,793,738<span></span>
</td>
<td class="nump">17,034,303<span></span>
</td>
<td class="nump">17,034,303<span></span>
</td>
<td class="nump">17,034,303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet', window );">Cost-recovery proceeds</a></td>
<td class="nump">69,200<span></span>
</td>
<td class="nump">69,200<span></span>
</td>
<td class="nump">69,200<span></span>
</td>
<td class="nump">106,700<span></span>
</td>
<td class="nump">106,700<span></span>
</td>
<td class="nump">106,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Loan participations sold</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">$ 627,916<span></span>
</td>
<td class="nump">627,916<span></span>
</td>
<td class="nump">$ 627,916<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember', window );">Junior Loan Participation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Loan participations sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=bxmt_LoanExposureRiskMember', window );">Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_US', window );">Subtotal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 10,233,490<span></span>
</td>
<td class="nump">10,233,490<span></span>
</td>
<td class="nump">$ 10,233,490<span></span>
</td>
<td class="nump">$ 12,430,396<span></span>
</td>
<td class="nump">12,430,396<span></span>
</td>
<td class="nump">$ 12,430,396<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 9,192,294<span></span>
</td>
<td class="nump">9,192,294<span></span>
</td>
<td class="nump">$ 9,192,294<span></span>
</td>
<td class="nump">$ 10,537,164<span></span>
</td>
<td class="nump">10,537,164<span></span>
</td>
<td class="nump">$ 10,537,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_US', window );">Subtotal | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesSunbeltMember', window );">Sunbelt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">45<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 4,203,737<span></span>
</td>
<td class="nump">4,203,737<span></span>
</td>
<td class="nump">$ 4,203,737<span></span>
</td>
<td class="nump">$ 4,520,632<span></span>
</td>
<td class="nump">4,520,632<span></span>
</td>
<td class="nump">$ 4,520,632<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 3,727,255<span></span>
</td>
<td class="nump">3,727,255<span></span>
</td>
<td class="nump">$ 3,727,255<span></span>
</td>
<td class="nump">$ 4,084,242<span></span>
</td>
<td class="nump">4,084,242<span></span>
</td>
<td class="nump">$ 4,084,242<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesSunbeltMember', window );">Sunbelt | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNortheastMember', window );">Northeast</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 2,768,431<span></span>
</td>
<td class="nump">2,768,431<span></span>
</td>
<td class="nump">$ 2,768,431<span></span>
</td>
<td class="nump">$ 4,614,582<span></span>
</td>
<td class="nump">4,614,582<span></span>
</td>
<td class="nump">$ 4,614,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 2,431,400<span></span>
</td>
<td class="nump">2,431,400<span></span>
</td>
<td class="nump">$ 2,431,400<span></span>
</td>
<td class="nump">$ 3,452,961<span></span>
</td>
<td class="nump">3,452,961<span></span>
</td>
<td class="nump">$ 3,452,961<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNortheastMember', window );">Northeast | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesWestMember', window );">West</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 1,957,019<span></span>
</td>
<td class="nump">1,957,019<span></span>
</td>
<td class="nump">$ 1,957,019<span></span>
</td>
<td class="nump">$ 1,865,382<span></span>
</td>
<td class="nump">1,865,382<span></span>
</td>
<td class="nump">$ 1,865,382<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 1,873,533<span></span>
</td>
<td class="nump">1,873,533<span></span>
</td>
<td class="nump">$ 1,873,533<span></span>
</td>
<td class="nump">$ 1,746,309<span></span>
</td>
<td class="nump">1,746,309<span></span>
</td>
<td class="nump">$ 1,746,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesWestMember', window );">West | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesMidwestMember', window );">Midwest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 855,704<span></span>
</td>
<td class="nump">855,704<span></span>
</td>
<td class="nump">$ 855,704<span></span>
</td>
<td class="nump">$ 997,156<span></span>
</td>
<td class="nump">997,156<span></span>
</td>
<td class="nump">$ 997,156<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 713,354<span></span>
</td>
<td class="nump">713,354<span></span>
</td>
<td class="nump">$ 713,354<span></span>
</td>
<td class="nump">$ 820,858<span></span>
</td>
<td class="nump">820,858<span></span>
</td>
<td class="nump">$ 820,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesMidwestMember', window );">Midwest | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNorthwestMember', window );">Northwest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 448,599<span></span>
</td>
<td class="nump">448,599<span></span>
</td>
<td class="nump">$ 448,599<span></span>
</td>
<td class="nump">$ 432,644<span></span>
</td>
<td class="nump">432,644<span></span>
</td>
<td class="nump">$ 432,644<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 446,752<span></span>
</td>
<td class="nump">446,752<span></span>
</td>
<td class="nump">$ 446,752<span></span>
</td>
<td class="nump">$ 432,794<span></span>
</td>
<td class="nump">432,794<span></span>
</td>
<td class="nump">$ 432,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNorthwestMember', window );">Northwest | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=us-gaap_NonUsMember', window );">Subtotal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">35<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 7,833,429<span></span>
</td>
<td class="nump">7,833,429<span></span>
</td>
<td class="nump">$ 7,833,429<span></span>
</td>
<td class="nump">$ 6,617,122<span></span>
</td>
<td class="nump">6,617,122<span></span>
</td>
<td class="nump">$ 6,617,122<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 7,601,444<span></span>
</td>
<td class="nump">7,601,444<span></span>
</td>
<td class="nump">$ 7,601,444<span></span>
</td>
<td class="nump">$ 6,497,139<span></span>
</td>
<td class="nump">6,497,139<span></span>
</td>
<td class="nump">$ 6,497,139<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=us-gaap_NonUsMember', window );">Subtotal | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_GB', window );">United Kingdom</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 3,128,895<span></span>
</td>
<td class="nump">3,128,895<span></span>
</td>
<td class="nump">$ 3,128,895<span></span>
</td>
<td class="nump">$ 2,916,145<span></span>
</td>
<td class="nump">2,916,145<span></span>
</td>
<td class="nump">$ 2,916,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 3,114,230<span></span>
</td>
<td class="nump">3,114,230<span></span>
</td>
<td class="nump">$ 3,114,230<span></span>
</td>
<td class="nump">$ 2,839,096<span></span>
</td>
<td class="nump">2,839,096<span></span>
</td>
<td class="nump">$ 2,839,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_GB', window );">United Kingdom | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_IE', window );">Ireland</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 1,197,444<span></span>
</td>
<td class="nump">1,197,444<span></span>
</td>
<td class="nump">$ 1,197,444<span></span>
</td>
<td class="nump">$ 1,050,276<span></span>
</td>
<td class="nump">1,050,276<span></span>
</td>
<td class="nump">$ 1,050,276<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 1,190,045<span></span>
</td>
<td class="nump">1,190,045<span></span>
</td>
<td class="nump">$ 1,190,045<span></span>
</td>
<td class="nump">$ 1,048,329<span></span>
</td>
<td class="nump">1,048,329<span></span>
</td>
<td class="nump">$ 1,048,329<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_IE', window );">Ireland | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_AU', window );">Australia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 1,107,136<span></span>
</td>
<td class="nump">1,107,136<span></span>
</td>
<td class="nump">$ 1,107,136<span></span>
</td>
<td class="nump">$ 920,182<span></span>
</td>
<td class="nump">920,182<span></span>
</td>
<td class="nump">$ 920,182<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 1,114,282<span></span>
</td>
<td class="nump">1,114,282<span></span>
</td>
<td class="nump">$ 1,114,282<span></span>
</td>
<td class="nump">$ 923,507<span></span>
</td>
<td class="nump">923,507<span></span>
</td>
<td class="nump">$ 923,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_AU', window );">Australia | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 643,117<span></span>
</td>
<td class="nump">643,117<span></span>
</td>
<td class="nump">$ 643,117<span></span>
</td>
<td class="nump">$ 785,368<span></span>
</td>
<td class="nump">785,368<span></span>
</td>
<td class="nump">$ 785,368<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 595,013<span></span>
</td>
<td class="nump">595,013<span></span>
</td>
<td class="nump">$ 595,013<span></span>
</td>
<td class="nump">$ 744,287<span></span>
</td>
<td class="nump">744,287<span></span>
</td>
<td class="nump">$ 744,287<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_ES', window );">Spain | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_SE', window );">Sweden</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 505,298<span></span>
</td>
<td class="nump">505,298<span></span>
</td>
<td class="nump">$ 505,298<span></span>
</td>
<td class="nump">$ 429,084<span></span>
</td>
<td class="nump">429,084<span></span>
</td>
<td class="nump">$ 429,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 504,853<span></span>
</td>
<td class="nump">504,853<span></span>
</td>
<td class="nump">$ 504,853<span></span>
</td>
<td class="nump">$ 429,724<span></span>
</td>
<td class="nump">429,724<span></span>
</td>
<td class="nump">$ 429,724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_SE', window );">Sweden | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_CA', window );">Canada</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 448,994<span></span>
</td>
<td class="nump">448,994<span></span>
</td>
<td class="nump">$ 448,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 284,952<span></span>
</td>
<td class="nump">284,952<span></span>
</td>
<td class="nump">$ 284,952<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_CA', window );">Canada | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_OtherEuropeMember', window );">Other Europe</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 741,582<span></span>
</td>
<td class="nump">741,582<span></span>
</td>
<td class="nump">$ 741,582<span></span>
</td>
<td class="nump">$ 455,417<span></span>
</td>
<td class="nump">455,417<span></span>
</td>
<td class="nump">$ 455,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 737,162<span></span>
</td>
<td class="nump">737,162<span></span>
</td>
<td class="nump">$ 737,162<span></span>
</td>
<td class="nump">$ 451,245<span></span>
</td>
<td class="nump">451,245<span></span>
</td>
<td class="nump">$ 451,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_OtherEuropeMember', window );">Other Europe | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_OtherInternationalMember', window );">Other International</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 60,963<span></span>
</td>
<td class="nump">60,963<span></span>
</td>
<td class="nump">$ 60,963<span></span>
</td>
<td class="nump">$ 60,650<span></span>
</td>
<td class="nump">60,650<span></span>
</td>
<td class="nump">$ 60,650<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 60,907<span></span>
</td>
<td class="nump">60,907<span></span>
</td>
<td class="nump">$ 60,907<span></span>
</td>
<td class="nump">$ 60,951<span></span>
</td>
<td class="nump">60,951<span></span>
</td>
<td class="nump">$ 60,951<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StatementGeographicalAxis=bxmt_OtherInternationalMember', window );">Other International | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember', window );">Office</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">42<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 5,489,331<span></span>
</td>
<td class="nump">5,489,331<span></span>
</td>
<td class="nump">$ 5,489,331<span></span>
</td>
<td class="nump">$ 7,386,333<span></span>
</td>
<td class="nump">7,386,333<span></span>
</td>
<td class="nump">$ 7,386,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 4,845,825<span></span>
</td>
<td class="nump">4,845,825<span></span>
</td>
<td class="nump">$ 4,845,825<span></span>
</td>
<td class="nump">$ 5,729,418<span></span>
</td>
<td class="nump">5,729,418<span></span>
</td>
<td class="nump">$ 5,729,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember', window );">Office | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_MultifamilyMember', window );">Multifamily</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">47<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 4,432,183<span></span>
</td>
<td class="nump">4,432,183<span></span>
</td>
<td class="nump">$ 4,432,183<span></span>
</td>
<td class="nump">$ 5,091,767<span></span>
</td>
<td class="nump">5,091,767<span></span>
</td>
<td class="nump">$ 5,091,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 4,289,958<span></span>
</td>
<td class="nump">4,289,958<span></span>
</td>
<td class="nump">$ 4,289,958<span></span>
</td>
<td class="nump">$ 4,934,364<span></span>
</td>
<td class="nump">4,934,364<span></span>
</td>
<td class="nump">$ 4,934,364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_MultifamilyMember', window );">Multifamily | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_IndustrialMember', window );">Industrial</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 3,561,323<span></span>
</td>
<td class="nump">3,561,323<span></span>
</td>
<td class="nump">$ 3,561,323<span></span>
</td>
<td class="nump">$ 2,030,627<span></span>
</td>
<td class="nump">2,030,627<span></span>
</td>
<td class="nump">$ 2,030,627<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 3,524,478<span></span>
</td>
<td class="nump">3,524,478<span></span>
</td>
<td class="nump">$ 3,524,478<span></span>
</td>
<td class="nump">$ 2,000,831<span></span>
</td>
<td class="nump">2,000,831<span></span>
</td>
<td class="nump">$ 2,000,831<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_IndustrialMember', window );">Industrial | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember', window );">Hospitality</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 2,096,519<span></span>
</td>
<td class="nump">2,096,519<span></span>
</td>
<td class="nump">$ 2,096,519<span></span>
</td>
<td class="nump">$ 2,768,374<span></span>
</td>
<td class="nump">2,768,374<span></span>
</td>
<td class="nump">$ 2,768,374<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 1,994,080<span></span>
</td>
<td class="nump">1,994,080<span></span>
</td>
<td class="nump">$ 1,994,080<span></span>
</td>
<td class="nump">$ 2,663,349<span></span>
</td>
<td class="nump">2,663,349<span></span>
</td>
<td class="nump">$ 2,663,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember', window );">Hospitality | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_RetailSiteMember', window );">Retail</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 769,377<span></span>
</td>
<td class="nump">769,377<span></span>
</td>
<td class="nump">$ 769,377<span></span>
</td>
<td class="nump">$ 555,553<span></span>
</td>
<td class="nump">555,553<span></span>
</td>
<td class="nump">$ 555,553<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 676,140<span></span>
</td>
<td class="nump">676,140<span></span>
</td>
<td class="nump">$ 676,140<span></span>
</td>
<td class="nump">$ 532,069<span></span>
</td>
<td class="nump">532,069<span></span>
</td>
<td class="nump">$ 532,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_RetailSiteMember', window );">Retail | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_SelfStorageMember', window );">Self-storage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 653,016<span></span>
</td>
<td class="nump">653,016<span></span>
</td>
<td class="nump">$ 653,016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 488,715<span></span>
</td>
<td class="nump">488,715<span></span>
</td>
<td class="nump">$ 488,715<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_SelfStorageMember', window );">Self-storage | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_LifeSciencesStudioMember', window );">Life Sciences / Studio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 341,730<span></span>
</td>
<td class="nump">341,730<span></span>
</td>
<td class="nump">$ 341,730<span></span>
</td>
<td class="nump">$ 342,817<span></span>
</td>
<td class="nump">342,817<span></span>
</td>
<td class="nump">$ 342,817<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 290,881<span></span>
</td>
<td class="nump">290,881<span></span>
</td>
<td class="nump">$ 290,881<span></span>
</td>
<td class="nump">$ 337,687<span></span>
</td>
<td class="nump">337,687<span></span>
</td>
<td class="nump">$ 337,687<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_LifeSciencesStudioMember', window );">Life Sciences / Studio | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OtherPropertyMember', window );">Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of Loans | loan</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 723,440<span></span>
</td>
<td class="nump">723,440<span></span>
</td>
<td class="nump">$ 723,440<span></span>
</td>
<td class="nump">$ 872,047<span></span>
</td>
<td class="nump">872,047<span></span>
</td>
<td class="nump">$ 872,047<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net Loan Exposure</a></td>
<td class="nump">$ 683,661<span></span>
</td>
<td class="nump">$ 683,661<span></span>
</td>
<td class="nump">$ 683,661<span></span>
</td>
<td class="nump">$ 836,585<span></span>
</td>
<td class="nump">$ 836,585<span></span>
</td>
<td class="nump">$ 836,585<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OtherPropertyMember', window );">Other | Loan Exposure Risk | Financing Receivables</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Net Loan Exposure Percentage of Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participation Liabilities, Principal Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationLiabilitiesPrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-20<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 275<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByTypeAxis=bxmt_LoanExposureRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByTypeAxis=bxmt_LoanExposureRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskByBenchmarkAxis=bxmt_FinancingReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=bxmt_FinancingReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_US">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_US</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesSunbeltMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_UnitedStatesSunbeltMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNortheastMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_UnitedStatesNortheastMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesWestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_UnitedStatesWestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesMidwestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_UnitedStatesMidwestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_UnitedStatesNorthwestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_UnitedStatesNorthwestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=us-gaap_NonUsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=us-gaap_NonUsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_GB">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_GB</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_IE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_IE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_AU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_AU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_SE">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_SE</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_OtherEuropeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_OtherEuropeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=bxmt_OtherInternationalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_OtherInternationalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_MultifamilyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_MultifamilyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_IndustrialMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_IndustrialMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_RetailSiteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_RetailSiteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_SelfStorageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_SelfStorageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_LifeSciencesStudioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_LifeSciencesStudioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OtherPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OtherPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Net Book Value, Total Loan Exposure and Net Loan Exposure of Loans Receivable Based on Internal Risk Ratings (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">$ (740,851)<span></span>
</td>
<td class="num">$ (741,541)<span></span>
</td>
<td class="num">$ (1,011,059)<span></span>
</td>
<td class="num">$ (893,938)<span></span>
</td>
<td class="num">$ (751,370)<span></span>
</td>
<td class="num">$ (576,936)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">16,793,738<span></span>
</td>
<td class="nump">16,793,738<span></span>
</td>
<td class="nump">17,034,303<span></span>
</td>
<td class="nump">17,034,303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet', window );">Cost-recovery proceeds</a></td>
<td class="nump">69,200<span></span>
</td>
<td class="nump">69,200<span></span>
</td>
<td class="nump">106,700<span></span>
</td>
<td class="nump">106,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Loan participations sold</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember', window );">Junior Loan Participation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Loan participations sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">$ 629,890<span></span>
</td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">$ 1,228,110<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 409,199<span></span>
</td>
<td class="nump">409,199<span></span>
</td>
<td class="nump">$ 1,919,280<span></span>
</td>
<td class="nump">1,919,280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">$ 408,355<span></span>
</td>
<td class="nump">408,355<span></span>
</td>
<td class="nump">$ 994,056<span></span>
</td>
<td class="nump">994,056<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="nump">22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 3,173,245<span></span>
</td>
<td class="nump">3,173,245<span></span>
</td>
<td class="nump">$ 3,346,881<span></span>
</td>
<td class="nump">3,346,881<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">$ 3,007,691<span></span>
</td>
<td class="nump">3,007,691<span></span>
</td>
<td class="nump">$ 3,349,347<span></span>
</td>
<td class="nump">3,349,347<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 10,578,120<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">$ 9,246,692<span></span>
</td>
<td class="nump">9,246,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">$ 10,087,715<span></span>
</td>
<td class="nump">10,087,715<span></span>
</td>
<td class="nump">$ 8,818,346<span></span>
</td>
<td class="nump">8,818,346<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 2,732,203<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">$ 2,707,104<span></span>
</td>
<td class="nump">2,707,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">$ 2,619,771<span></span>
</td>
<td class="nump">2,619,771<span></span>
</td>
<td class="nump">$ 2,622,877<span></span>
</td>
<td class="nump">2,622,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentLineItems', window );"><strong>Financing Receivable, Credit Quality Indicator [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">$ 1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">$ 1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount', window );">Net loan exposure</a></td>
<td class="nump">$ 670,206<span></span>
</td>
<td class="nump">$ 670,206<span></span>
</td>
<td class="nump">$ 1,249,677<span></span>
</td>
<td class="nump">$ 1,249,677<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Net Loans Exposure Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestNetLoansExposureAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Unamortized Loan Fee (Cost) And Purchase Premium (Discount), Sale And Collection Of Finance Receivables And Cost-Recovery Proceeds, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestUnamortizedLoanFeeCostAndPurchasePremiumDiscountSaleAndCollectionOfFinanceReceivablesAndCostRecoveryProceedsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participation Liabilities, Principal Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationLiabilitiesPrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<th class="th" colspan="6">3 Months Ended</th>
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<div>USD ($)</div>
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<div>USD ($)</div>
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<div>USD ($)</div>
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<div>USD ($)</div>
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<div>USD ($)</div>
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<div>USD ($)</div>
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<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
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<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">3.0<span></span>
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<td class="nump">3.0<span></span>
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<td class="nump">3.0<span></span>
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<td class="nump">3.0<span></span>
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<td class="nump">3.0<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet', window );">Net increase (decrease) in CECL reserve</a></td>
<td class="num">$ (45,100)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Amount charged off</a></td>
<td class="nump">42,111<span></span>
</td>
<td class="nump">$ 45,057<span></span>
</td>
<td class="nump">$ 41,824<span></span>
</td>
<td class="nump">$ 16,989<span></span>
</td>
<td class="nump">$ 12,537<span></span>
</td>
<td class="nump">$ 61,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 128,992<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 384,603<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="nump">695,719<span></span>
</td>
<td class="nump">740,851<span></span>
</td>
<td class="nump">741,541<span></span>
</td>
<td class="nump">1,011,059<span></span>
</td>
<td class="nump">893,938<span></span>
</td>
<td class="nump">751,370<span></span>
</td>
<td class="nump">$ 695,719<span></span>
</td>
<td class="nump">695,719<span></span>
</td>
<td class="nump">$ 695,719<span></span>
</td>
<td class="nump">$ 695,719<span></span>
</td>
<td class="nump">$ 695,719<span></span>
</td>
<td class="nump">733,936<span></span>
</td>
<td class="nump">$ 733,936<span></span>
</td>
<td class="nump">$ 733,936<span></span>
</td>
<td class="nump">$ 576,936<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">18,066,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,066,919<span></span>
</td>
<td class="nump">18,066,919<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">18,066,919<span></span>
</td>
<td class="nump">19,047,518<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Net book value</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">$ 17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">933,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">$ 933,635<span></span>
</td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_CorporateJointVentureMember', window );">Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure', window );">Loan exposure</a></td>
<td class="nump">43,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="nump">43,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">32,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,100<span></span>
</td>
<td class="nump">32,100<span></span>
</td>
<td class="nump">$ 32,100<span></span>
</td>
<td class="nump">32,100<span></span>
</td>
<td class="nump">32,100<span></span>
</td>
<td class="nump">32,400<span></span>
</td>
<td class="nump">$ 32,400<span></span>
</td>
<td class="nump">32,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">$ 1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="nump">$ 1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">2,732,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">$ 2,732,203<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">2,707,104<span></span>
</td>
<td class="nump">$ 2,707,104<span></span>
</td>
<td class="nump">2,707,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">65<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">10,578,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">$ 10,578,120<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">9,246,692<span></span>
</td>
<td class="nump">$ 9,246,692<span></span>
</td>
<td class="nump">9,246,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">3,173,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,173,245<span></span>
</td>
<td class="nump">3,173,245<span></span>
</td>
<td class="nump">$ 3,173,245<span></span>
</td>
<td class="nump">3,173,245<span></span>
</td>
<td class="nump">$ 3,173,245<span></span>
</td>
<td class="nump">3,346,881<span></span>
</td>
<td class="nump">$ 3,346,881<span></span>
</td>
<td class="nump">3,346,881<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=us-gaap_PaymentDeferralMember', window );">Payment Deferral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod', window );">Aggregate amortized cost basis of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">367,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent', window );">Percentage to aggregate loans receivable portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=us-gaap_ExtendedMaturityMember', window );">Extended Maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod', window );">Aggregate amortized cost basis of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">506,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent', window );">Percentage to aggregate loans receivable portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=us-gaap_ExtendedMaturityMember', window );">Extended Maturity | 5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanOneMember', window );">Extended Maturity, Loan One</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification', window );">Extension term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfLoansReceivable', window );">Proceeds from repayment of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanTwoMember', window );">Extended Maturity, Loan Two</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification', window );">Extension term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years 9 months 18 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfLoansReceivable', window );">Proceeds from repayment of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanThreeMember', window );">Extended Maturity, Loan Three</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification', window );">Extension term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years 9 months 18 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification', window );">Increase (decrease) in rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.10%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFourMember', window );">Extended Maturity, Loan Four</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification', window );">Extension term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification', window );">Increase (decrease) in rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2.43%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfLoansReceivable', window );">Proceeds from repayment of loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFiveMember', window );">Extended Maturity, Loan Five</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification', window );">Extension term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years 3 months 18 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification', window );">Increase (decrease) in rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3.56%)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember', window );">Extended Maturity, Senior Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember', window );">Extended Maturity, Senior Loans | 4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember', window );">Extended Maturity, Senior Loans | 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember', window );">Extended Maturity, Senior Loans | 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember', window );">Office</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">42<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">5,489,331<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,489,331<span></span>
</td>
<td class="nump">5,489,331<span></span>
</td>
<td class="nump">$ 5,489,331<span></span>
</td>
<td class="nump">5,489,331<span></span>
</td>
<td class="nump">$ 5,489,331<span></span>
</td>
<td class="nump">7,386,333<span></span>
</td>
<td class="nump">$ 7,386,333<span></span>
</td>
<td class="nump">7,386,333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember', window );">Hospitality</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">2,096,519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,096,519<span></span>
</td>
<td class="nump">2,096,519<span></span>
</td>
<td class="nump">$ 2,096,519<span></span>
</td>
<td class="nump">2,096,519<span></span>
</td>
<td class="nump">2,096,519<span></span>
</td>
<td class="nump">2,768,374<span></span>
</td>
<td class="nump">$ 2,768,374<span></span>
</td>
<td class="nump">2,768,374<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_MixedUseAssetMember', window );">Mixed Use Asset</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedNumberOfContracts', window );">Number of loan modifications | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoansAxis=bxmt_A12LoansMember', window );">12 Loans | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment', window );">Cash proceeds</a></td>
<td class="nump">9,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Amount charged off</a></td>
<td class="nump">42,111<span></span>
</td>
<td class="nump">45,057<span></span>
</td>
<td class="nump">41,824<span></span>
</td>
<td class="nump">16,989<span></span>
</td>
<td class="nump">12,537<span></span>
</td>
<td class="nump">61,013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="nump">505,406<span></span>
</td>
<td class="nump">$ 558,767<span></span>
</td>
<td class="nump">$ 555,379<span></span>
</td>
<td class="nump">$ 883,577<span></span>
</td>
<td class="nump">$ 759,380<span></span>
</td>
<td class="nump">$ 602,599<span></span>
</td>
<td class="nump">505,406<span></span>
</td>
<td class="nump">505,406<span></span>
</td>
<td class="nump">$ 505,406<span></span>
</td>
<td class="nump">505,406<span></span>
</td>
<td class="nump">505,406<span></span>
</td>
<td class="nump">580,651<span></span>
</td>
<td class="nump">580,651<span></span>
</td>
<td class="nump">580,651<span></span>
</td>
<td class="nump">$ 417,670<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans | 5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans | 4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans | 3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans | 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Principal balance</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans | Office</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="nump">382,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">382,200<span></span>
</td>
<td class="nump">382,200<span></span>
</td>
<td class="nump">$ 382,200<span></span>
</td>
<td class="nump">382,200<span></span>
</td>
<td class="nump">382,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitment | Payment Deferral</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability', window );">Unfunded loan commitments</a></td>
<td class="nump">4,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,700<span></span>
</td>
<td class="nump">4,700<span></span>
</td>
<td class="nump">$ 4,700<span></span>
</td>
<td class="nump">4,700<span></span>
</td>
<td class="nump">4,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitment | Extended Maturity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability', window );">Unfunded loan commitments</a></td>
<td class="nump">32,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,700<span></span>
</td>
<td class="nump">$ 32,700<span></span>
</td>
<td class="nump">$ 32,700<span></span>
</td>
<td class="nump">$ 32,700<span></span>
</td>
<td class="nump">$ 32,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_AssetSpecificCECLReservesMember', window );">Asset-specific CECL Reserves</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet', window );">(Decrease) increase in net CECL reserve</a></td>
<td class="num">(53,400)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_GeneralCECLReservesMember', window );">General CECL Reserves</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Accounts, Notes, Loans and Financing Receivable [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet', window );">(Decrease) increase in net CECL reserve</a></td>
<td class="nump">$ 8,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Allowance For Credit Loss, Period Increase (Decrease), Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecreaseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Before Allowance For Credit Loss, Loan Exposure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossLoanExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Excluding Accrued Interest, Period Increase (Decrease) And Writeoff, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableExcludingAccruedInterestPeriodIncreaseDecreaseAndWriteoffNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Modified, Interest Rate Increase (Decrease) From Modification</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableModifiedInterestRateIncreaseDecreaseFromModification</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableModifiedNumberOfContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Modified, Number Of Contracts</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableModifiedNumberOfContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableModifiedOffBalanceSheetLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Modified, Off Balance Sheet Liability</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableModifiedOffBalanceSheetLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableWeightedAverageRiskRating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Weighted Average Risk Rating</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableWeightedAverageRiskRating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of decrease in allowance for credit loss on financing receivable from writeoff. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable modified during period for debtor experiencing financial difficulty.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestModifiedPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage, excluding accrued interest, of financing receivable modified during period for debtor experiencing financial difficulty to total financing receivables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableModificationToTotalFinancingReceivablesExcludingAccruedInterestPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period of increase in weighted average maturity of financing receivable modified for debtor experiencing financial difficulty, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableModifiedWeightedAverageTermIncreaseFromModification</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromCollectionOfLoansReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the collection, including prepayments, of loans receivable issued for financing of goods and services.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromCollectionOfLoansReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from repayments of the balance excluding interest (principal) on loans receivable and leases held for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_CorporateJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_CorporateJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=us-gaap_PaymentDeferralMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=us-gaap_PaymentDeferralMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=us-gaap_ExtendedMaturityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=us-gaap_ExtendedMaturityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanTwoMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFourMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFourMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturityLoanFiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoanRestructuringModificationAxis=bxmt_ExtendedMaturitySeniorLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_MixedUseAssetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_NumberOfLoansAxis=bxmt_A12LoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_NumberOfLoansAxis=bxmt_A12LoansMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=bxmt_ImpairedLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=bxmt_ImpairedLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_AssetSpecificCECLReservesMember</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_GeneralCECLReservesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Schedule Of Current Expected Credit Loss Reserve By Pool (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward', window );"><strong>Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Beginning balance</a></td>
<td class="nump">$ 740,851<span></span>
</td>
<td class="nump">$ 741,541<span></span>
</td>
<td class="nump">$ 733,936<span></span>
</td>
<td class="nump">$ 893,938<span></span>
</td>
<td class="nump">$ 751,370<span></span>
</td>
<td class="nump">$ 576,936<span></span>
</td>
<td class="nump">$ 733,936<span></span>
</td>
<td class="nump">$ 576,936<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease', window );">(Decrease) increase in CECL reserves</a></td>
<td class="num">(3,021)<span></span>
</td>
<td class="nump">44,367<span></span>
</td>
<td class="nump">49,429<span></span>
</td>
<td class="nump">134,110<span></span>
</td>
<td class="nump">155,105<span></span>
</td>
<td class="nump">235,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs of CECL reserves</a></td>
<td class="num">(42,111)<span></span>
</td>
<td class="num">(45,057)<span></span>
</td>
<td class="num">(41,824)<span></span>
</td>
<td class="num">(16,989)<span></span>
</td>
<td class="num">(12,537)<span></span>
</td>
<td class="num">(61,013)<span></span>
</td>
<td class="num">(128,992)<span></span>
</td>
<td class="num">(384,603)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Ending balance</a></td>
<td class="nump">695,719<span></span>
</td>
<td class="nump">740,851<span></span>
</td>
<td class="nump">741,541<span></span>
</td>
<td class="nump">1,011,059<span></span>
</td>
<td class="nump">893,938<span></span>
</td>
<td class="nump">751,370<span></span>
</td>
<td class="nump">695,719<span></span>
</td>
<td class="nump">733,936<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_USLoansMember', window );">US Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward', window );"><strong>Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Beginning balance</a></td>
<td class="nump">90,902<span></span>
</td>
<td class="nump">97,661<span></span>
</td>
<td class="nump">80,057<span></span>
</td>
<td class="nump">62,531<span></span>
</td>
<td class="nump">74,528<span></span>
</td>
<td class="nump">78,335<span></span>
</td>
<td class="nump">80,057<span></span>
</td>
<td class="nump">78,335<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease', window );">(Decrease) increase in CECL reserves</a></td>
<td class="nump">5,134<span></span>
</td>
<td class="num">(6,759)<span></span>
</td>
<td class="nump">17,604<span></span>
</td>
<td class="num">(9,584)<span></span>
</td>
<td class="num">(11,997)<span></span>
</td>
<td class="num">(3,807)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs of CECL reserves</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Ending balance</a></td>
<td class="nump">96,036<span></span>
</td>
<td class="nump">90,902<span></span>
</td>
<td class="nump">97,661<span></span>
</td>
<td class="nump">52,947<span></span>
</td>
<td class="nump">62,531<span></span>
</td>
<td class="nump">74,528<span></span>
</td>
<td class="nump">96,036<span></span>
</td>
<td class="nump">80,057<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_NonUSLoansMember', window );">Non-U.S. Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward', window );"><strong>Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Beginning balance</a></td>
<td class="nump">38,369<span></span>
</td>
<td class="nump">39,937<span></span>
</td>
<td class="nump">26,141<span></span>
</td>
<td class="nump">28,151<span></span>
</td>
<td class="nump">30,790<span></span>
</td>
<td class="nump">31,560<span></span>
</td>
<td class="nump">26,141<span></span>
</td>
<td class="nump">31,560<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease', window );">(Decrease) increase in CECL reserves</a></td>
<td class="nump">3,302<span></span>
</td>
<td class="num">(1,568)<span></span>
</td>
<td class="nump">13,796<span></span>
</td>
<td class="num">(1,916)<span></span>
</td>
<td class="num">(2,639)<span></span>
</td>
<td class="num">(770)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs of CECL reserves</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Ending balance</a></td>
<td class="nump">41,671<span></span>
</td>
<td class="nump">38,369<span></span>
</td>
<td class="nump">39,937<span></span>
</td>
<td class="nump">26,235<span></span>
</td>
<td class="nump">28,151<span></span>
</td>
<td class="nump">30,790<span></span>
</td>
<td class="nump">41,671<span></span>
</td>
<td class="nump">26,141<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_UniqueLoansMember', window );">Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward', window );"><strong>Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Beginning balance</a></td>
<td class="nump">52,813<span></span>
</td>
<td class="nump">48,564<span></span>
</td>
<td class="nump">47,087<span></span>
</td>
<td class="nump">43,876<span></span>
</td>
<td class="nump">43,453<span></span>
</td>
<td class="nump">49,371<span></span>
</td>
<td class="nump">47,087<span></span>
</td>
<td class="nump">49,371<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease', window );">(Decrease) increase in CECL reserves</a></td>
<td class="num">(207)<span></span>
</td>
<td class="nump">4,249<span></span>
</td>
<td class="nump">1,477<span></span>
</td>
<td class="nump">4,424<span></span>
</td>
<td class="nump">423<span></span>
</td>
<td class="num">(5,918)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs of CECL reserves</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Ending balance</a></td>
<td class="nump">52,606<span></span>
</td>
<td class="nump">52,813<span></span>
</td>
<td class="nump">48,564<span></span>
</td>
<td class="nump">48,300<span></span>
</td>
<td class="nump">43,876<span></span>
</td>
<td class="nump">43,453<span></span>
</td>
<td class="nump">52,606<span></span>
</td>
<td class="nump">47,087<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward', window );"><strong>Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Beginning balance</a></td>
<td class="nump">558,767<span></span>
</td>
<td class="nump">555,379<span></span>
</td>
<td class="nump">580,651<span></span>
</td>
<td class="nump">759,380<span></span>
</td>
<td class="nump">602,599<span></span>
</td>
<td class="nump">417,670<span></span>
</td>
<td class="nump">580,651<span></span>
</td>
<td class="nump">417,670<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease', window );">(Decrease) increase in CECL reserves</a></td>
<td class="num">(11,250)<span></span>
</td>
<td class="nump">48,445<span></span>
</td>
<td class="nump">16,552<span></span>
</td>
<td class="nump">141,186<span></span>
</td>
<td class="nump">169,318<span></span>
</td>
<td class="nump">245,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs of CECL reserves</a></td>
<td class="num">(42,111)<span></span>
</td>
<td class="num">(45,057)<span></span>
</td>
<td class="num">(41,824)<span></span>
</td>
<td class="num">(16,989)<span></span>
</td>
<td class="num">(12,537)<span></span>
</td>
<td class="num">(61,013)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Ending balance</a></td>
<td class="nump">$ 505,406<span></span>
</td>
<td class="nump">$ 558,767<span></span>
</td>
<td class="nump">$ 555,379<span></span>
</td>
<td class="nump">$ 883,577<span></span>
</td>
<td class="nump">$ 759,380<span></span>
</td>
<td class="nump">$ 602,599<span></span>
</td>
<td class="nump">$ 505,406<span></span>
</td>
<td class="nump">$ 580,651<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of increase (decrease) in allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of decrease in allowance for credit loss on financing receivable from writeoff. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_USLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_USLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_NonUSLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_NonUSLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_UniqueLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_UniqueLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<SEQUENCE>76
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loans Receivable, Net - Loans Receivable Based On Our Internal Risk Ratings, Separated By Year Of Origination (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,066,919<span></span>
</td>
<td class="nump">$ 19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">$ (740,851)<span></span>
</td>
<td class="num">$ (741,541)<span></span>
</td>
<td class="num">$ (1,011,059)<span></span>
</td>
<td class="num">$ (893,938)<span></span>
</td>
<td class="num">$ (751,370)<span></span>
</td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">$ (576,936)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract', window );"><strong>Gross charge-offs</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYearWriteoff', window );">Year one</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff', window );">Year two</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff', window );">Year three</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(52,045)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff', window );">Year four</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(168)<span></span>
</td>
<td class="num">(255,005)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff', window );">Year five</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(71,853)<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff', window );">Prior</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(56,971)<span></span>
</td>
<td class="num">(77,553)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs</a></td>
<td class="num">(42,111)<span></span>
</td>
<td class="num">(45,057)<span></span>
</td>
<td class="num">(41,824)<span></span>
</td>
<td class="num">(16,989)<span></span>
</td>
<td class="num">(12,537)<span></span>
</td>
<td class="num">(61,013)<span></span>
</td>
<td class="num">(128,992)<span></span>
</td>
<td class="num">(384,603)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_LoansReceivableMember', window );">Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">3,578,441<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,578,441<span></span>
</td>
<td class="nump">329,059<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">333,977<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">333,977<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,264,668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">3,977,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,977,188<span></span>
</td>
<td class="nump">7,399,261<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">5,176,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,176,963<span></span>
</td>
<td class="nump">873,180<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">5,000,350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000,350<span></span>
</td>
<td class="nump">6,181,350<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">18,066,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,066,919<span></span>
</td>
<td class="nump">19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_UniqueLoansMember', window );">Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">814,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">869,443<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">869,443<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">838,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">838,767<span></span>
</td>
<td class="nump">791,558<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,708,210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,708,210<span></span>
</td>
<td class="nump">1,605,783<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(52,606)<span></span>
</td>
<td class="num">(52,813)<span></span>
</td>
<td class="num">(48,564)<span></span>
</td>
<td class="num">(48,300)<span></span>
</td>
<td class="num">(43,876)<span></span>
</td>
<td class="num">(43,453)<span></span>
</td>
<td class="num">(52,606)<span></span>
</td>
<td class="num">(47,087)<span></span>
</td>
<td class="num">(49,371)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract', window );"><strong>Gross charge-offs</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=bxmt_ImpairedLoansMember', window );">Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">170,388<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">168,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">168,985<span></span>
</td>
<td class="nump">367,030<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">433,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">433,385<span></span>
</td>
<td class="nump">34,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">571,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">571,782<span></span>
</td>
<td class="nump">1,255,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">CECL reserve</a></td>
<td class="num">(505,406)<span></span>
</td>
<td class="num">(558,767)<span></span>
</td>
<td class="num">(555,379)<span></span>
</td>
<td class="num">(883,577)<span></span>
</td>
<td class="num">(759,380)<span></span>
</td>
<td class="num">(602,599)<span></span>
</td>
<td class="num">(505,406)<span></span>
</td>
<td class="num">(580,651)<span></span>
</td>
<td class="num">$ (417,670)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract', window );"><strong>Gross charge-offs</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Charge-offs</a></td>
<td class="num">(42,111)<span></span>
</td>
<td class="num">$ (45,057)<span></span>
</td>
<td class="num">$ (41,824)<span></span>
</td>
<td class="num">$ (16,989)<span></span>
</td>
<td class="num">$ (12,537)<span></span>
</td>
<td class="num">$ (61,013)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GeographicDistributionAxis=us-gaap_GeographicDistributionDomesticMember', window );">U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">1,180,517<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,180,517<span></span>
</td>
<td class="nump">329,059<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">333,977<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">333,977<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,185,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">2,346,232<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,346,232<span></span>
</td>
<td class="nump">5,037,654<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">3,149,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,149,854<span></span>
</td>
<td class="nump">751,337<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">2,123,522<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,123,522<span></span>
</td>
<td class="nump">2,500,841<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">9,134,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,134,102<span></span>
</td>
<td class="nump">10,804,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GeographicDistributionAxis=us-gaap_GeographicDistributionForeignMember', window );">Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">2,397,924<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,397,924<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,094,844<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">592,528<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">592,528<span></span>
</td>
<td class="nump">1,994,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">1,593,724<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,593,724<span></span>
</td>
<td class="nump">87,629<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">1,466,279<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,466,279<span></span>
</td>
<td class="nump">1,633,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">6,050,455<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,050,455<span></span>
</td>
<td class="nump">4,810,072<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">409,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">409,199<span></span>
</td>
<td class="nump">1,919,280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1 | Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">151,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">151,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">151,577<span></span>
</td>
<td class="nump">325,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">203,721<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">203,721<span></span>
</td>
<td class="nump">60,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">53,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,901<span></span>
</td>
<td class="nump">1,381,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">409,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">409,199<span></span>
</td>
<td class="nump">1,919,280<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1 | Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1 | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1 | U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">151,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">151,577<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">151,577<span></span>
</td>
<td class="nump">245,289<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">203,721<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">203,721<span></span>
</td>
<td class="nump">60,240<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">53,901<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,901<span></span>
</td>
<td class="nump">1,381,858<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">409,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">409,199<span></span>
</td>
<td class="nump">1,839,061<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingOneMember', window );">1 | Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">80,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">80,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">3,173,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,173,245<span></span>
</td>
<td class="nump">3,346,881<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2 | Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">678,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">678,795<span></span>
</td>
<td class="nump">60,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">60,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,963<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">697,257<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">789,802<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">789,802<span></span>
</td>
<td class="nump">2,399,516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">1,381,450<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,381,450<span></span>
</td>
<td class="nump">87,629<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">262,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">262,235<span></span>
</td>
<td class="nump">101,828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">3,173,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,173,245<span></span>
</td>
<td class="nump">3,346,881<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2 | Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2 | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2 | U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">33,314<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,314<span></span>
</td>
<td class="nump">60,651<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">60,963<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60,963<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">197,153<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">197,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">197,274<span></span>
</td>
<td class="nump">1,611,856<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">724,262<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">724,262<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">262,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">262,235<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,278,048<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,278,048<span></span>
</td>
<td class="nump">1,869,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingTwoMember', window );">2 | Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">645,481<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">645,481<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">500,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">592,528<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">592,528<span></span>
</td>
<td class="nump">787,660<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">657,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">657,188<span></span>
</td>
<td class="nump">87,629<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">101,828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,895,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,895,197<span></span>
</td>
<td class="nump">1,477,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">10,578,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">9,246,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3 | Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">2,899,646<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,899,646<span></span>
</td>
<td class="nump">268,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">273,014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">273,014<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">3,008,569<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">2,499,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,499,726<span></span>
</td>
<td class="nump">3,287,535<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">2,820,303<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,820,303<span></span>
</td>
<td class="nump">691,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">2,085,431<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,085,431<span></span>
</td>
<td class="nump">1,991,083<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">10,578,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,578,120<span></span>
</td>
<td class="nump">9,246,692<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3 | Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">814,225<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">869,443<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">869,443<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">291,004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">291,004<span></span>
</td>
<td class="nump">265,808<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,160,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,160,447<span></span>
</td>
<td class="nump">1,080,033<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3 | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3 | U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">1,147,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,147,203<span></span>
</td>
<td class="nump">268,408<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">273,014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">273,014<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,599,604<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">1,630,283<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,630,283<span></span>
</td>
<td class="nump">2,160,837<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">1,883,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,883,767<span></span>
</td>
<td class="nump">691,097<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">691,837<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">691,837<span></span>
</td>
<td class="nump">392,470<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">5,626,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,626,104<span></span>
</td>
<td class="nump">5,112,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingThreeMember', window );">3 | Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">1,752,443<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,752,443<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">594,740<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,126,698<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">936,536<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">936,536<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">1,102,590<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,102,590<span></span>
</td>
<td class="nump">1,332,805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">3,791,569<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,791,569<span></span>
</td>
<td class="nump">3,054,243<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">2,732,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">2,707,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4 | Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">236,780<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">367,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">367,098<span></span>
</td>
<td class="nump">1,019,672<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">338,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">338,104<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">2,027,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,027,001<span></span>
</td>
<td class="nump">1,450,652<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">2,732,203<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,732,203<span></span>
</td>
<td class="nump">2,707,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4 | Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">547,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">547,763<span></span>
</td>
<td class="nump">525,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">547,763<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">547,763<span></span>
</td>
<td class="nump">525,750<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4 | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4 | U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">236,780<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">367,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">367,098<span></span>
</td>
<td class="nump">1,019,672<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">338,104<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">338,104<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">1,115,549<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,115,549<span></span>
</td>
<td class="nump">726,513<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,820,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,820,751<span></span>
</td>
<td class="nump">1,982,965<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFourMember', window );">4 | Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">363,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">363,689<span></span>
</td>
<td class="nump">198,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">363,689<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">363,689<span></span>
</td>
<td class="nump">198,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5 | Total loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">170,388<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">168,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">168,985<span></span>
</td>
<td class="nump">367,030<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">433,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">433,385<span></span>
</td>
<td class="nump">34,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">571,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">571,782<span></span>
</td>
<td class="nump">1,255,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5 | Unique Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5 | Impaired loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">170,388<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">168,985<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">168,985<span></span>
</td>
<td class="nump">367,030<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">433,385<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">433,385<span></span>
</td>
<td class="nump">34,214<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">571,782<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">571,782<span></span>
</td>
<td class="nump">1,255,929<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">1,174,152<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,174,152<span></span>
</td>
<td class="nump">1,827,561<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5 | U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InternalCreditAssessmentAxis=bxmt_RiskRatingFiveMember', window );">5 | Non-U.S. loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract', window );"><strong>Total loans receivable</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear', window );">Year one</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear', window );">Year two</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear', window );">Year three</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear', window );">Year four</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear', window );">Year five</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear', window );">Prior</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of decrease in allowance for credit loss on financing receivable from writeoff. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoffByOriginationYearAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossByOriginationYearAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable originated more than five years prior to current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated more than five years before current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestOriginatedMoreThanFiveYearsBeforeCurrentFiscalYearWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable originated four years prior to current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated four years before current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable originated three years prior to current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated three years before current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable originated in current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearOneOriginatedCurrentFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated in current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, of financing receivable originated two years prior to current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated two years before current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest of financing receivable originated in fiscal year prior to current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 79<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479294/326-20-55-79<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of writeoff of financing receivable originated in fiscal year before current fiscal year. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Real Estate Owned, Net - Additional Information (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
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<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>real_estate_owned_asset</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>real_estate_owned_asset</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale', window );">Number of REO assets classified as held for sale investment | real_estate_owned_asset</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10<span></span>
</td>
<td class="nump">7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedNumberOfAssets', window );">Number of real estate owned assets | real_estate_owned_asset</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedConsiderationTransferred', window );">Total acquisition price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 406,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation', window );">Land and land improvements</a></td>
<td class="nump">$ 221,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation', window );">Building and building improvements</a></td>
<td class="nump">137,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation', window );">Acquired intangible assets</a></td>
<td class="nump">49,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation', window );">Other components</a></td>
<td class="num">(1,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Amount charged off</a></td>
<td class="nump">42,111<span></span>
</td>
<td class="nump">$ 45,057<span></span>
</td>
<td class="nump">$ 41,824<span></span>
</td>
<td class="nump">$ 16,989<span></span>
</td>
<td class="nump">$ 12,537<span></span>
</td>
<td class="nump">$ 61,013<span></span>
</td>
<td class="nump">128,992<span></span>
</td>
<td class="nump">$ 384,603<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">933,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">$ 588,185<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetAcquisitionAxis=bxmt_A7RealEstateOwnedAssetsMember', window );">7 Real Estate Owned Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">$ 490,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">490,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CollateralAxis=us-gaap_CommercialRealEstateMember', window );">Commercial Real Estate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff', window );">Amount charged off</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 83,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Building And Building Improvements Acquired Through Foreclosure, Purchase Price Allocation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosurePurchasePriceAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Acquired Through Foreclosure, Gross, Purchase Price Allocation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateAcquiredThroughForeclosureGrossPurchasePriceAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Land And Site Improvements Acquired Through Foreclosure, Purchase Price Allocation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LandAndSiteImprovementsAcquiredThroughForeclosurePurchasePriceAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Assets Acquired Through Foreclosure, Purchase Price Allocation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherAssetsAcquiredThroughForeclosurePurchasePriceAllocation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Consideration Transferred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedNumberOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Number Of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedNumberOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Number Of Assets Classified As Held-For-Sale</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedNumberOfAssetsClassifiedAsHeldForSale</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, excluding accrued interest, of decrease in allowance for credit loss on financing receivable from writeoff. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAllowanceForCreditLossWriteoff</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 976<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477332/976-310-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetAcquisitionAxis=bxmt_A7RealEstateOwnedAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetAcquisitionAxis=bxmt_A7RealEstateOwnedAssetsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAxis=us-gaap_CommercialRealEstateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAxis=us-gaap_CommercialRealEstateMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Real Estate Owned, Net - Schedule of Real Estate Owned Asset Acquired (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Acquisition Date Fair Value</a></td>
<td class="nump">$ 958,127<span></span>
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<td class="nump">$ 591,629<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetAcquisitionAxis=bxmt_A3RealEstateOwnedAssetMember', window );">3 Real Estate Owned Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Acquisition Date Fair Value</a></td>
<td class="nump">406,272<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember', window );">Office | Chicago, IL | 3 Real Estate Owned Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Acquisition Date Fair Value</a></td>
<td class="nump">45,045<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_OfficeBuildingMember', window );">Office | Atlanta, GA | 3 Real Estate Owned Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Acquisition Date Fair Value</a></td>
<td class="nump">132,974<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=bxmt_HospitalityMember', window );">Hospitality | New York, NY | 3 Real Estate Owned Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateLineItems', window );"><strong>Real Estate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Acquisition Date Fair Value</a></td>
<td class="nump">$ 228,253<span></span>
</td>
<td class="text">&#160;<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateAcquiredThroughForeclosureGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Acquired Through Foreclosure, Gross</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateAcquiredThroughForeclosureGross</td>
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<td>xbrli:monetaryItemType</td>
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<td>debit</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 976<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477332/976-310-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateLineItems</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetAcquisitionAxis=bxmt_A3RealEstateOwnedAssetMember</td>
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<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StatementGeographicalAxis=bxmt_NewYorkNYMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Real Estate Owned, Net - Real Estate Owned Assets (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure', window );">Building and building improvements</a></td>
<td class="nump">$ 555,879<span></span>
</td>
<td class="nump">$ 410,546<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure', window );">Land and land improvements</a></td>
<td class="nump">402,248<span></span>
</td>
<td class="nump">181,083<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureGross', window );">Total</a></td>
<td class="nump">958,127<span></span>
</td>
<td class="nump">591,629<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation', window );">Less: accumulated depreciation</a></td>
<td class="num">(24,492)<span></span>
</td>
<td class="num">(3,444)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">933,635<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross', window );">Intangible real estate assets</a></td>
<td class="nump">130,099<span></span>
</td>
<td class="nump">83,253<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation', window );">Less: accumulated amortization</a></td>
<td class="num">(33,427)<span></span>
</td>
<td class="num">(5,964)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet', window );">Intangible real estate assets, net</a></td>
<td class="nump">96,672<span></span>
</td>
<td class="nump">77,289<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross', window );">Intangible real estate liabilities</a></td>
<td class="nump">4,545<span></span>
</td>
<td class="nump">1,422<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation', window );">Less: accumulated amortization</a></td>
<td class="num">(317)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet', window );">Intangible real estate liabilities, net</a></td>
<td class="nump">$ 4,228<span></span>
</td>
<td class="nump">$ 1,421<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Building And Building Improvements Acquired Through Foreclosure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_BuildingAndBuildingImprovementsAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Acquired Through Foreclosure, Accumulated Depreciation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateAcquiredThroughForeclosureAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Acquired Through Foreclosure, Gross</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateAcquiredThroughForeclosureGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Acquired Through Foreclosure, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Liabilities Acquired Through Foreclosure, Accumulated Depreciation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Liabilities Acquired Through Foreclosure, Gross</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Liabilities Acquired Through Foreclosure, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateLiabilitiesAcquiredThroughForeclosureNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Land And Site Improvements Acquired Through Foreclosure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LandAndSiteImprovementsAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Acquired Through Foreclosure, Accumulated Depreciation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateAcquiredThroughForeclosureAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateAcquiredThroughForeclosureGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Acquired Through Foreclosure, Gross</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateAcquiredThroughForeclosureGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Real Estate Owned, Net - Revenue and Expenses From Real Estate Owned (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedRentalIncome', window );">Rental income</a></td>
<td class="nump">$ 15,263<span></span>
</td>
<td class="nump">$ 1,037<span></span>
</td>
<td class="nump">$ 45,803<span></span>
</td>
<td class="nump">$ 1,037<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedOtherIncome', window );">Other operating income</a></td>
<td class="nump">18,470<span></span>
</td>
<td class="nump">177<span></span>
</td>
<td class="nump">63,775<span></span>
</td>
<td class="nump">177<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedIncome', window );">Revenue from real estate owned</a></td>
<td class="nump">33,733<span></span>
</td>
<td class="nump">1,214<span></span>
</td>
<td class="nump">109,578<span></span>
</td>
<td class="nump">1,214<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedOperatingExpenses', window );">Operating expense</a></td>
<td class="nump">28,061<span></span>
</td>
<td class="nump">1,654<span></span>
</td>
<td class="nump">89,238<span></span>
</td>
<td class="nump">2,432<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense', window );">Depreciation and amortization expense</a></td>
<td class="nump">15,039<span></span>
</td>
<td class="nump">1,030<span></span>
</td>
<td class="nump">47,960<span></span>
</td>
<td class="nump">1,215<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedExpenses', window );">Total expenses from real estate owned</a></td>
<td class="nump">43,100<span></span>
</td>
<td class="nump">2,684<span></span>
</td>
<td class="nump">137,198<span></span>
</td>
<td class="nump">3,647<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RealEstateOwnedIncomeLoss', window );">Net loss from real estate owned</a></td>
<td class="num">$ (9,367)<span></span>
</td>
<td class="num">$ (1,470)<span></span>
</td>
<td class="num">$ (27,620)<span></span>
</td>
<td class="num">$ (2,433)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedDepreciationAndAmortizationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Depreciation And Amortization Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedDepreciationAndAmortizationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Expenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Income (Loss)</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedOperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Operating Expenses</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedOperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedOtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Other Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedOtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RealEstateOwnedRentalIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Real Estate Owned, Rental Income</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RealEstateOwnedRentalIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Real Estate Owned, Net - Schedule of Undiscounted Future Minimum Rental Income (Detail)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAbstract', window );"><strong>Real Estate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">$ 17,836<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths', window );">2026</a></td>
<td class="nump">61,740<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears', window );">2027</a></td>
<td class="nump">50,111<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears', window );">2028</a></td>
<td class="nump">41,736<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears', window );">2029</a></td>
<td class="nump">34,329<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour', window );">Thereafter</a></td>
<td class="nump">72,948<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LessorOperatingLeasePaymentsToBeReceived', window );">Total</a></td>
<td class="nump">$ 278,700<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Lessor, Operating Lease, Payment to be Received, after Year Four</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LessorOperatingLeasePaymentToBeReceivedAfterYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceived">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payments to be received by lessor for operating lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceived</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payment to be received by lessor for operating lease in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payment to be received by lessor for operating lease in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payment to be received by lessor for operating lease in remainder of current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payment to be received by lessor for operating lease in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of lease payment to be received by lessor for operating lease in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LessorOperatingLeasePaymentsToBeReceivedTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Real Estate Owned, Net - Schedule of Amortization of Lease Intangibles (Detail)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract', window );"><strong>Below-Market Lease Intangible Assets [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="num">$ (292)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths', window );">2026</a></td>
<td class="num">(1,140)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo', window );">2027</a></td>
<td class="num">(995)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree', window );">2028</a></td>
<td class="num">(872)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour', window );">2029</a></td>
<td class="num">(498)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour', window );">Thereafter</a></td>
<td class="num">(431)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseNet', window );">Total</a></td>
<td class="num">(4,228)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeasesAcquiredInPlaceMember', window );">In-place lease intangibles</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Finite-Lived Intangible Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">9,561<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths', window );">2026</a></td>
<td class="nump">26,096<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo', window );">2027</a></td>
<td class="nump">15,437<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree', window );">2028</a></td>
<td class="nump">11,225<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour', window );">2029</a></td>
<td class="nump">7,765<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour', window );">Thereafter</a></td>
<td class="nump">11,002<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Total</a></td>
<td class="nump">81,086<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_AboveMarketLeasesMember', window );">Above market lease intangibles</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsLineItems', window );"><strong>Finite-Lived Intangible Assets [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">1,427<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths', window );">2026</a></td>
<td class="nump">4,121<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo', window );">2027</a></td>
<td class="nump">3,077<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree', window );">2028</a></td>
<td class="nump">2,505<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour', window );">2029</a></td>
<td class="nump">1,708<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour', window );">Thereafter</a></td>
<td class="nump">2,748<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Total</a></td>
<td class="nump">$ 15,586<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Below Market Lease, Amortization Income, after Year Four</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_BelowMarketLeaseAmortizationIncomeAfterYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Finite-Lived Intangible Asset, Expected Amortization, after Year Four</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization income for lease with finite life acquired as part of real property acquisition at below market lease rate expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAmortizationIncomeNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization income for lease with finite life acquired as part of real property acquisition at below market lease rate expected to be recognized in remainder of current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization income for lease with finite life acquired as part of real property acquisition at below market lease rate expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAmortizationIncomeYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization income for lease with finite life acquired as part of real property acquisition at below market lease rate expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAmortizationIncomeYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization income for lease with finite life acquired as part of real property acquisition at below market lease rate expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAmortizationIncomeYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseNetAmortizationIncomeFiscalYearMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 40<br> -SubTopic 30<br> -Topic 350<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 985<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in remainder of current fiscal year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 985<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 40<br> -SubTopic 30<br> -Topic 350<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 985<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 40<br> -SubTopic 30<br> -Topic 350<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 985<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization for assets, excluding financial assets and goodwill, lacking physical substance with finite life expected to be recognized in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 40<br> -SubTopic 30<br> -Topic 350<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 985<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481283/985-20-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 805<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 31<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479876/805-20-55-31<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 805<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 20<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479876/805-20-55-20<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 805<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 20<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479876/805-20-55-20<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 926<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483154/926-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNet</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Investments in Unconsolidated Entities - Schedule of Investment in Unconsolidated Entities (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>property</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>property</div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value | $</a></td>
<td class="nump">$ 182,598<span></span>
</td>
<td class="nump">$ 108,087<span></span>
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<td class="nump">$ 4,452<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember', window );">Equity Method Investments, Carried At Historical Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsNumberOfProperties', window );">Number of Assets | property</a></td>
<td class="nump">115<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value | $</a></td>
<td class="nump">$ 77,731<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 4,452<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember', window );">Net Lease Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsNumberOfProperties', window );">Number of Assets | property</a></td>
<td class="nump">115<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">0<span></span>
</td>
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<tr class="re">
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<td class="nump">75.00%<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">75.00%<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value | $</a></td>
<td class="nump">$ 77,731<span></span>
</td>
<td class="nump">52,181<span></span>
</td>
<td class="nump">$ 4,452<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_EquityMethodInvestmentsCarriedAtFairValueMember', window );">Equity Method Investments, Carried At Fair Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsNumberOfProperties', window );">Number of Assets | property</a></td>
<td class="nump">571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value | $</a></td>
<td class="nump">$ 104,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember', window );">Bank Loan Portfolio Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsNumberOfProperties', window );">Number of Assets | property</a></td>
<td class="nump">571<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership Interest</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value | $</a></td>
<td class="nump">$ 104,867<span></span>
</td>
<td class="nump">$ 55,906<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture1Member', window );">Bank Loan Portfolio Joint Venture 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership Interest</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture2Member', window );">Bank Loan Portfolio Joint Venture 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership Interest</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity Method Investments, Number Of Properties</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_EquityMethodInvestmentsNumberOfProperties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentsLineItems</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_EquityMethodInvestmentsCarriedAtHistoricalCostMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_EquityMethodInvestmentsCarriedAtFairValueMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture1Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture2Member</td>
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<tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Entities - Schedule of Activity Related to Investment in Unconsolidated Entities (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward', window );"><strong>Investments in Unconsolidated Entities [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, beginning balance</a></td>
<td class="nump">$ 108,087,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,452,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsContribution', window );">Contributions</a></td>
<td class="nump">70,951,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">178,664,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions', window );">Distributions</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">(Loss) Income From Unconsolidated Entities</a></td>
<td class="nump">3,924,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">1,035,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OciEquityMethodInvestmentAfterTax', window );">Accumulated Other Comprehensive Loss</a></td>
<td class="num">(364,000)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">(1,553,000)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, ending balance</a></td>
<td class="nump">182,598,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182,598,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember', window );">Net Lease Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward', window );"><strong>Investments in Unconsolidated Entities [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, beginning balance</a></td>
<td class="nump">52,181,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,452,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsContribution', window );">Contributions</a></td>
<td class="nump">26,281,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">76,391,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions', window );">Distributions</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">(Loss) Income From Unconsolidated Entities</a></td>
<td class="num">(367,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,559,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OciEquityMethodInvestmentAfterTax', window );">Accumulated Other Comprehensive Loss</a></td>
<td class="num">(364,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,553,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, ending balance</a></td>
<td class="nump">77,731,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">77,731,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember', window );">Bank Loan Portfolio Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward', window );"><strong>Investments in Unconsolidated Entities [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, beginning balance</a></td>
<td class="nump">55,906,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_EquityMethodInvestmentsContribution', window );">Contributions</a></td>
<td class="nump">44,670,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">102,273,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions', window );">Distributions</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">(Loss) Income From Unconsolidated Entities</a></td>
<td class="nump">4,291,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,594,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OciEquityMethodInvestmentAfterTax', window );">Accumulated Other Comprehensive Loss</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Equity method investments, ending balance</a></td>
<td class="nump">$ 104,867,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 104,867,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity Method Investments, Contribution</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_EquityMethodInvestmentsContribution</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_InvestmentsInUnconsolidatedEntitiesRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Investments in Unconsolidated Entities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_InvestmentsInUnconsolidatedEntitiesRollForward</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of distribution received from equity method investee for return on investment, classified as operating activities. Excludes distribution for return of investment, classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 21D<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-21D<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentDividendsOrDistributions</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) for proportionate share of equity method investee's income (loss).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(12))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(13)(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OciEquityMethodInvestmentAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of other comprehensive income (loss) (OCI) for proportionate share of equity method investee's OCI.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481725/323-10-35-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OciEquityMethodInvestmentAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Assets and Liabilities - Summary of Components of Other Assets (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract', window );"><strong>Other Assets And Liabilities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer', window );">Loan portfolio payments held by servicer</a></td>
<td class="nump">$ 429,747<span></span>
</td>
<td class="nump">$ 113,199<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestReceivable', window );">Accrued interest receivable</a></td>
<td class="nump">138,130<span></span>
</td>
<td class="nump">160,131<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent', window );">Accounts receivable and other assets</a></td>
<td class="nump">114,172<span></span>
</td>
<td class="nump">134,030<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet', window );">Real estate intangible assets, net</a></td>
<td class="nump">96,672<span></span>
</td>
<td class="nump">77,289<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherRealEstate', window );">Other real estate assets</a></td>
<td class="nump">35,867<span></span>
</td>
<td class="nump">9,338<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">19,505<span></span>
</td>
<td class="nump">72,454<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrentAndNoncurrent', window );">Prepaid expenses</a></td>
<td class="nump">126<span></span>
</td>
<td class="nump">1,002<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CollateralAlreadyPostedAggregateFairValue', window );">Collateral deposited under derivative agreements</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,810<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Total</a></td>
<td class="nump">834,219<span></span>
</td>
<td class="nump">572,253<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CashCollateralForCollateralizedLoanObligations', window );">Cash collateral</a></td>
<td class="nump">$ 105,200<span></span>
</td>
<td class="nump">$ 95,500<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accounts Receivable, Net, Current And Other Assets, Current</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AccountsReceivableNetCurrentAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CashCollateralForCollateralizedLoanObligations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash Collateral For Collateralized Loan Obligations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CashCollateralForCollateralizedLoanObligations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Intangible Real Estate Acquired Through Foreclosure, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_IntangibleRealEstateAcquiredThroughForeclosureNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan portfolio payments held by our third party loan servicer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanPortfolioPaymentsHeldByOurThirdPartyLoanServicer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Assets And Liabilities Disclosure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAlreadyPostedAggregateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 185<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-185<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4H<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4H<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAlreadyPostedAggregateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of interest earned but not received. Also called accrued interest or accrued interest receivable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477802/946-310-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of other real estate not separately disclosed, including, but not limited to, real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. This does not include real estate assets taken in settlement of troubled loans through surrender or foreclosure.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(7)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Other Assets and Liabilities - Summary of Components of Other Liabilities (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract', window );"><strong>Other Assets And Liabilities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuredDebtRepaymentsPendingServicerRemittance', window );">Debt repayments pending servicer remittance</a></td>
<td class="nump">$ 335,433<span></span>
</td>
<td class="nump">$ 3,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherRealEstateLiabilities', window );">Other real estate liabilities</a></td>
<td class="nump">114,413<span></span>
</td>
<td class="nump">72,018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrentAndNoncurrent', window );">Accrued dividends payable</a></td>
<td class="nump">80,238<span></span>
</td>
<td class="nump">81,214<span></span>
</td>
<td class="nump">$ 81,306<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued interest payable</a></td>
<td class="nump">64,911<span></span>
</td>
<td class="nump">77,855<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Management fee payable</a></td>
<td class="nump">16,849<span></span>
</td>
<td class="nump">18,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Current expected credit loss reserves for unfunded loan commitments</a></td>
<td class="nump">13,741<span></span>
</td>
<td class="nump">10,412<span></span>
</td>
<td class="nump">$ 8,300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities', window );">Accounts payable and other liabilities</a></td>
<td class="nump">11,230<span></span>
</td>
<td class="nump">13,834<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">2,557<span></span>
</td>
<td class="nump">5,238<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="nump">$ 639,372<span></span>
</td>
<td class="nump">$ 282,847<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Assets And Liabilities Disclosure</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherAssetsAndLiabilitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OtherRealEstateLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Real Estate Liabilities</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherRealEstateLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SecuredDebtRepaymentsPendingServicerRemittance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Secured debt repayments pending servicer remittance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SecuredDebtRepaymentsPendingServicerRemittance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndOtherAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities incurred and payable to vendors for goods and services received, and accrued liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(10)(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndOtherAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(24))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 405<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478790/946-405-45-2<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest payable on debt, including, but not limited to, trade payables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of fee payable for management of fund or trust.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OffBalanceSheetCreditLossLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482454/460-10-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OffBalanceSheetCreditLossLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 64<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481620/480-10-55-64<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Assets and Liabilities - Additional Information (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="4">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
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<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
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<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
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<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
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<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan</div>
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<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
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<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
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<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
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<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Current expected credit loss reserves for unfunded loan commitments</a></td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 8,300<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 13,741<span></span>
</td>
<td class="nump">$ 8,300<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
<td class="nump">$ 10,412<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal', window );">Increase (decrease) in reserve</a></td>
<td class="nump">2,000<span></span>
</td>
<td class="num">$ (1,600)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,300<span></span>
</td>
<td class="num">$ (7,100)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Current expected credit loss reserves for unfunded loan commitments</a></td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="nump">$ 1,532,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
<td class="nump">$ 1,263,068<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 1405<br> -Paragraph c<br> -Publisher SEC<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OffBalanceSheetCreditLossLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482454/460-10-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OffBalanceSheetCreditLossLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense (reversal of expense) for expected credit loss for off-balance sheet credit exposure. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476148/220-40-50-22<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Secured Debt, Net - Additional Information (Detail) - Secured debt, net<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>lender</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum', window );">Covenants, EBITDA to fixed charges, in percent</a></td>
<td class="nump">1.3<span></span>
</td>
<td class="nump">1.25<span></span>
</td>
<td class="nump">1.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum', window );">Covenants, minimum tangible net worth</a></td>
<td class="nump">$ 3,600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantCashLiquidityMinimum', window );">Covenants, minimum cash liquidity amount</a></td>
<td class="nump">$ 10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum', window );">Covenants, percentage of recourse indebtedness</a></td>
<td class="nump">0.05<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantIndebtednessMaximum', window );">Covenants, indebtedness to total assets, in percent</a></td>
<td class="nump">0.8333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Minimum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances', window );">Covenants, percentage of tangible assets on cash proceeds from equity issuances</a></td>
<td class="nump">0.75<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Maximum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances', window );">Covenants, percentage of tangible assets on cash proceeds from equity issuances</a></td>
<td class="nump">0.85<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New borrowings</a></td>
<td class="nump">$ 2,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">2,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New borrowings</a></td>
<td class="nump">2,183,266<span></span>
</td>
<td class="nump">$ 614,141<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 14,083,177<span></span>
</td>
<td class="nump">$ 14,807,821<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Number of lenders | lender</a></td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity', window );">Remaining borrowing capacity</a></td>
<td class="nump">$ 844,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantCashLiquidityMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Cash Liquidity, Minimum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantCashLiquidityMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Earnings Before Interest, Taxes, Depreciation, And Amortization, Or EBITDA To Fixed Charges, Minimum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantEarningsBeforeInterestTaxesDepreciationAndAmortizationOrEBITDAToFixedChargesMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantIndebtednessMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Indebtedness, Maximum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantIndebtednessMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Percentage Of Net Cash Proceeds Of Future Equity Issuances</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantPercentageOfNetCashProceedsOfFutureEquityIssuances</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Recourse Indebtedness, Maximum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantRecourseIndebtednessMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Tangible Net Worth, Minimum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantTangibleNetWorthMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentNumberOfLenders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Number Of Lenders</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentNumberOfLenders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets pledged to secure a debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Secured Debt, Net - Schedule of Secured Debt Agreements (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Net book value</a></td>
<td class="nump">9,540,224<span></span>
</td>
<td class="nump">$ 9,696,334<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Deferred financing costs</a></td>
<td class="num">(8,108)<span></span>
</td>
<td class="num">(9,195)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Net book value</a></td>
<td class="nump">9,540,224<span></span>
</td>
<td class="nump">9,696,334<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 9,548,332<span></span>
</td>
<td class="nump">$ 9,705,529<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-1A<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>90
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Secured Debt, Net - Schedule of Secured Credit Facilities (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan </div>
<div>lender</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 2,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Lenders | lender</a></td>
<td class="nump">13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 9,548,332<span></span>
</td>
<td class="nump">$ 9,705,529<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Loan Count | loan</a></td>
<td class="nump">112<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 14,083,177<span></span>
</td>
<td class="nump">$ 14,807,821<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Weighted Average | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Minimum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Maximum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | USD | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Lenders | lender</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 3,954,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Loan Count | loan</a></td>
<td class="nump">81<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 6,522,111<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | USD | Weighted Average | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">32.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | USD | Minimum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | USD | Maximum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | GBP | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Lenders | lender</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 2,265,827<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Loan Count | loan</a></td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 3,098,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | GBP | Weighted Average | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | GBP | Minimum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | EUR | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Lenders | lender</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 1,835,792<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Loan Count | loan</a></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 2,588,781<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | EUR | Weighted Average | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">42.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | EUR | Minimum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | EUR | Maximum | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Others | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLenders', window );">Lenders | lender</a></td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 1,492,460<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Loan Count | loan</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 1,873,776<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Others | Weighted Average | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent', window );">Recourse Limitation</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentNumberOfLenders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Number Of Lenders</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentNumberOfLenders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LineOfCreditFacilityRecourseLimitationPercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line Of Credit Facility, Recourse Limitation, Percent</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LineOfCreditFacilityRecourseLimitationPercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ScheduleOfSecuredCreditFacilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of Secured Credit Facilities [Line Item]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ScheduleOfSecuredCreditFacilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets pledged to secure a debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_WeightedAverageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_WeightedAverageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_USD</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_GBP</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CurrencyAxis=currency_EUR">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=currency_EUR</td>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CurrencyAxis=srt_OtherCurrencyMember</td>
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<td><strong> Balance Type:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Secured Debt, Net - Schedule of All in Cost of Secured Credit Facilities (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">2,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">2,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">2,183,266<span></span>
</td>
<td class="nump">$ 614,141<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 9,548,332<span></span>
</td>
<td class="nump">$ 9,705,529<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost', window );">Wtd. avg. all-in cost (percentage)</a></td>
<td class="nump">1.82%<span></span>
</td>
<td class="nump">1.92%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 14,083,177<span></span>
</td>
<td class="nump">$ 14,807,821<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentWeightedAverageAllInYield', window );">Wtd. avg. all-in yield (percentage)</a></td>
<td class="nump">3.35%<span></span>
</td>
<td class="nump">3.58%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Net interest margin (percentage)</a></td>
<td class="nump">1.53%<span></span>
</td>
<td class="nump">1.66%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities | + 1.50% or less</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">$ 1,385,800<span></span>
</td>
<td class="nump">$ 165,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 4,547,118<span></span>
</td>
<td class="nump">$ 3,976,192<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost', window );">Wtd. avg. all-in cost (percentage)</a></td>
<td class="nump">1.54%<span></span>
</td>
<td class="nump">1.53%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 6,600,493<span></span>
</td>
<td class="nump">$ 6,185,925<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentWeightedAverageAllInYield', window );">Wtd. avg. all-in yield (percentage)</a></td>
<td class="nump">2.99%<span></span>
</td>
<td class="nump">3.18%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Net interest margin (percentage)</a></td>
<td class="nump">1.45%<span></span>
</td>
<td class="nump">1.65%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities | + 1.51% to + 1.75%</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">$ 555,478<span></span>
</td>
<td class="nump">$ 74,118<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 2,564,711<span></span>
</td>
<td class="nump">$ 2,238,376<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost', window );">Wtd. avg. all-in cost (percentage)</a></td>
<td class="nump">1.75%<span></span>
</td>
<td class="nump">1.78%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 3,375,095<span></span>
</td>
<td class="nump">$ 3,140,937<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentWeightedAverageAllInYield', window );">Wtd. avg. all-in yield (percentage)</a></td>
<td class="nump">3.48%<span></span>
</td>
<td class="nump">3.52%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Net interest margin (percentage)</a></td>
<td class="nump">1.73%<span></span>
</td>
<td class="nump">1.74%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities | + 1.76% to + 2.00%</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">$ 104,841<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 935,067<span></span>
</td>
<td class="nump">$ 969,541<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost', window );">Wtd. avg. all-in cost (percentage)</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="nump">2.09%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 1,766,876<span></span>
</td>
<td class="nump">$ 1,802,431<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentWeightedAverageAllInYield', window );">Wtd. avg. all-in yield (percentage)</a></td>
<td class="nump">3.28%<span></span>
</td>
<td class="nump">3.67%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Net interest margin (percentage)</a></td>
<td class="nump">1.18%<span></span>
</td>
<td class="nump">1.58%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net | Secured debt, net | Secured credit facilities | + 2.01% or more</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems', window );"><strong>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">New Financings</a></td>
<td class="nump">$ 137,147<span></span>
</td>
<td class="nump">$ 374,407<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total borrowings</a></td>
<td class="nump">$ 1,501,436<span></span>
</td>
<td class="nump">$ 2,521,420<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost', window );">Wtd. avg. all-in cost (percentage)</a></td>
<td class="nump">2.63%<span></span>
</td>
<td class="nump">2.61%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Collateral</a></td>
<td class="nump">$ 2,340,713<span></span>
</td>
<td class="nump">$ 3,678,528<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentWeightedAverageAllInYield', window );">Wtd. avg. all-in yield (percentage)</a></td>
<td class="nump">4.24%<span></span>
</td>
<td class="nump">4.31%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtWeightedAverageInterestRate', window );">Net interest margin (percentage)</a></td>
<td class="nump">1.61%<span></span>
</td>
<td class="nump">1.70%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentWeightedAverageAllInYield">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt instrument weighted average all in yield.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentWeightedAverageAllInYield</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LineOfCreditFacilityWeightedAverageAllInCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line Of Credit Facility, Weighted Average All-In Cost</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LineOfCreditFacilityWeightedAverageAllInCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Schedule Of All In Cost Of Secured Credit Facilities [Line Items]</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ScheduleOfAllInCostOfSecuredCreditFacilitiesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets pledged to secure a debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtWeightedAverageInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average interest rate of debt outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtWeightedAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SecuredCreditFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_VariableRateSpreadAxis=bxmt_A1.50OrLessMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_VariableRateSpreadAxis=bxmt_A1.50OrLessMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_VariableRateSpreadAxis=bxmt_A1.51To1.75Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_VariableRateSpreadAxis=bxmt_A1.51To1.75Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_VariableRateSpreadAxis=bxmt_A1.76To2.00Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_VariableRateSpreadAxis=bxmt_A1.76To2.00Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_VariableRateSpreadAxis=bxmt_A2.01OrMoreMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_VariableRateSpreadAxis=bxmt_A2.01OrMoreMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<head>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Securitized Debt Obligations, Net (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration', window );">Debt instrument, variable interest rate, type [Extensible Enumeration]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">SOFR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">SOFR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">$ 2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,936,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,552,403<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">2,470,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,470,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,936,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,552,403<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, loan obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.57%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuritizedDebtObligationsYieldRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.15%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.98%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Interest expense on debt</a></td>
<td class="nump">40,000<span></span>
</td>
<td class="nump">$ 40,600<span></span>
</td>
<td class="nump">$ 107,800<span></span>
</td>
<td class="nump">$ 123,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5SeniorCollateralizedLoanObligationMember', window );">2025 FL5 Senior Collateralized Loan Obligation | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">831,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 831,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">821,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 821,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, loan obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.15%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember', window );">2025 FL5 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuritizedDebtObligationsYieldRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2021FL4SeniorCollateralizedLoanObligationMember', window );">2021 FL4 Senior Collateralized Loan Obligation | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">609,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 609,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 785,453<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">609,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 609,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 785,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, loan obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.45%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.39%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2021FL4UnderlyingCollateralAssetsMember', window );">2021 FL4 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">759,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 759,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 952,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">759,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 759,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 952,764<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuritizedDebtObligationsYieldRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.66%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL3SeniorCollateralizedLoanObligationMember', window );">2020 FL3 Senior Collateralized Loan Obligation | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">457,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 457,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 552,664<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">457,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 457,129<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 552,663<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, loan obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.51%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.92%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL3UnderlyingCollateralAssetsMember', window );">2020 FL3 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">625,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 625,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 743,914<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">625,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 625,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 743,914<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuritizedDebtObligationsYieldRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.78%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.92%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL2SeniorCollateralizedLoanObligationMember', window );">2020 FL2 Senior Collateralized Loan Obligation | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">581,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 581,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 598,850<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">581,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 581,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 598,851<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, loan obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.76%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL2UnderlyingCollateralAssetsMember', window );">2020 FL2 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">813,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 813,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 855,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">$ 813,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 813,742<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 855,725<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SecuritizedDebtObligationsYieldRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.71%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCollateralAmountFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Collateral Amount, Face Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCollateralAmountFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Collateral Amount, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCollateralAmountNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt, Securitized Obligation, Weighted Average Cost Over Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtSecuritizedObligationWeightedAverageCostOverVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LongTermDebtNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Debt, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LongTermDebtNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SecuritizedDebtObligationsYieldRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Securitized Debt Obligations Yield Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SecuritizedDebtObligationsYieldRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets pledged to secure a debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 8: 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates type of variable interest rate on debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 470<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>enum2:enumerationSetItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5SeniorCollateralizedLoanObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2025FL5SeniorCollateralizedLoanObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2021FL4SeniorCollateralizedLoanObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2021FL4SeniorCollateralizedLoanObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2021FL4UnderlyingCollateralAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2021FL4UnderlyingCollateralAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL3SeniorCollateralizedLoanObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2020FL3SeniorCollateralizedLoanObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL3UnderlyingCollateralAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2020FL3UnderlyingCollateralAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL2SeniorCollateralizedLoanObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2020FL2SeniorCollateralizedLoanObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2020FL2UnderlyingCollateralAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2020FL2UnderlyingCollateralAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Asset-Specific Debt, Net (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration', window );">Debt instrument, variable interest rate, type [Extensible Enumeration]</a></td>
<td class="text">SOFR<span></span>
</td>
<td class="text">SOFR<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Count, financing provided | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans', window );">Count, collateral assets | loan</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Principal balance</a></td>
<td class="nump">$ 629,890<span></span>
</td>
<td class="nump">$ 1,228,110<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">781,189<span></span>
</td>
<td class="nump">1,467,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Book Value</a></td>
<td class="nump">627,916<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCollateralAmount', window );">Book Value, collateral assets</a></td>
<td class="nump">$ 775,248<span></span>
</td>
<td class="nump">$ 1,459,864<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate', window );">Wtd. Avg. Yield/Cost, financing provided</a></td>
<td class="nump">3.18%<span></span>
</td>
<td class="nump">3.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate', window );">Wtd. Avg. Yield/Cost, collateral assets</a></td>
<td class="nump">4.52%<span></span>
</td>
<td class="nump">4.03%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt, Asset-Specific, Underlying Assets, Weighted Average Yield Over Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtAssetSpecificUnderlyingAssetsWeightedAverageYieldOverVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt, Asset-Specific, Weighted Average Cost Over Variable Rate</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtAssetSpecificWeightedAverageCostOverVariableRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCollateralAmountFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Collateral Amount, Face Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCollateralAmountFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCollateralAmountNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Collateral Amount, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCollateralAmountNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCollateralAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets pledged to secure a debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCollateralAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(f))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 8: 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicates type of variable interest rate on debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 470<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentVariableInterestRateTypeExtensibleEnumeration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>enum2:enumerationSetItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Loan Participations Sold, Net (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLineItems', window );"><strong>Loan Participations Sold [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Principal Balance, loan participation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLiabilitiesAmount', window );">Book Value, loan participation</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseOperating', window );">Interest expense</a></td>
<td class="nump">247,055<span></span>
</td>
<td class="nump">$ 321,744<span></span>
</td>
<td class="nump">754,015<span></span>
</td>
<td class="nump">$ 1,004,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember', window );">Junior Loan Participation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLineItems', window );"><strong>Loan Participations Sold [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoanParticipationsSold', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Principal Balance, loan participation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLiabilitiesAmount', window );">Book Value, loan participation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 100,064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ParticipationsSoldLoanYield', window );">Wtd. Avg. Yield/Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAxis=bxmt_TotalJuniorLoanParticipationMember', window );">Total Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLineItems', window );"><strong>Loan Participations Sold [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoanParticipationsSold', window );">Count | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldTotalLoan', window );">Principal Balance, total loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 442,142<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldTotalLoanAmount', window );">Book Value, total loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 442,008<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ParticipationsSoldLoanYield', window );">Wtd. Avg. Yield/Cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.14%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldAxis=bxmt_LoanParticipationsSoldMember', window );">Loan Participations Sold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLineItems', window );"><strong>Loan Participations Sold [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseOperating', window );">Interest expense</a></td>
<td class="nump">$ 1,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 22,600<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participation Liabilities, Principal Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationLiabilitiesPrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldLiabilitiesAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Liabilities, Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldLiabilitiesAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldTotalLoan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Total Loan</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldTotalLoan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldTotalLoanAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Total Loan, Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldTotalLoanAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_NumberOfLoanParticipationsSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Loan Participations Sold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_NumberOfLoanParticipationsSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ParticipationsSoldLoanYield">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Participations Sold Loan Yield</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ParticipationsSoldLoanYield</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseOperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense classified as operating.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(9))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseOperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldAxis=bxmt_JuniorLoanParticipationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldAxis=bxmt_TotalJuniorLoanParticipationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldAxis=bxmt_TotalJuniorLoanParticipationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldAxis=bxmt_LoanParticipationsSoldMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldAxis=bxmt_LoanParticipationsSoldMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loans, Net - Additional Information (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,389<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 5,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayment of term loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,310<span></span>
</td>
<td class="nump">18,797<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentAmortizationPercentage', window );">Amortization percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum', window );">Total debt to total assets ratio</a></td>
<td class="nump">0.8333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8333<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B1TermLoanDue2026Member', window );">B-1 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repayment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage', window );">Weighted-average price of repurchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">99.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B4TermLoanDue2029Member', window );">B-4 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebt', window );">Repayment of term loan</a></td>
<td class="nump">$ 403,100<span></span>
</td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member', window );">B-5 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 650,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repayment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">648,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member', window );">B-6 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="nump">1,000,000<span></span>
</td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member', window );">B-7 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="nump">$ 453,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 453,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentAmortizationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents debt instrument amortization percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentAmortizationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Repurchase Weighted-Average Price, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExtinguishmentOfDebtAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount of debt extinguished.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B1TermLoanDue2026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B1TermLoanDue2026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B4TermLoanDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B4TermLoanDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loans, Net - Schedule of Debt (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">1,808,127<span></span>
</td>
<td class="nump">$ 1,764,437<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred financing costs and unamortized discount</a></td>
<td class="num">(33,214)<span></span>
</td>
<td class="num">(32,364)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Net book value</a></td>
<td class="nump">1,774,913<span></span>
</td>
<td class="nump">1,732,073<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | B-1 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">309,268<span></span>
</td>
<td class="nump">309,268<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | B-4 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">805,169<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | B-5 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">650,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | B-6 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">1,045,754<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | B-7 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 453,105<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | SOFR | B-1 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">2.36%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | SOFR | B-4 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | SOFR | B-5 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | SOFR | B-6 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentVariableRateFloor', window );">Variable rate floor</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | SOFR | B-7 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">2.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentVariableRateFloor', window );">Variable rate floor</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | Secured Overnight Financing Rate (SOFR), All-In Cost | B-1 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">2.53%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | Secured Overnight Financing Rate (SOFR), All-In Cost | B-4 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | Secured Overnight Financing Rate (SOFR), All-In Cost | B-5 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">4.27%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | Secured Overnight Financing Rate (SOFR), All-In Cost | B-6 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.55%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net | Secured Overnight Financing Rate (SOFR), All-In Cost | B-7 Term Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentVariableRateFloor">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Variable Rate Floor</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentVariableRateFloor</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unamortized debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B1TermLoanDue2026Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B1TermLoanDue2026Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B4TermLoanDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B4TermLoanDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=us-gaap_SecuredOvernightFinancingRateSofrMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=us-gaap_SecuredOvernightFinancingRateSofrMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=bxmt_SecuredOvernightFinancingRateSOFRAllInCostMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Term Loans, Net - Schedule Of Interest Expense, Debt (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,331<span></span>
</td>
<td class="nump">$ 32,185<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebtExcludingAmortization', window );">Cash coupon</a></td>
<td class="nump">$ 32,898<span></span>
</td>
<td class="nump">$ 44,242<span></span>
</td>
<td class="nump">101,041<span></span>
</td>
<td class="nump">132,906<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="nump">2,266<span></span>
</td>
<td class="nump">2,283<span></span>
</td>
<td class="nump">8,381<span></span>
</td>
<td class="nump">6,848<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Total interest expense</a></td>
<td class="nump">$ 35,164<span></span>
</td>
<td class="nump">$ 46,525<span></span>
</td>
<td class="nump">$ 109,422<span></span>
</td>
<td class="nump">$ 139,754<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCostsAndDiscounts</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebtExcludingAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebtExcludingAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Senior Secured Notes, Net - Schedule of Senior Secured Notes (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">7,834<span></span>
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<td class="num">$ (4,424)<span></span>
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</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">785,316<span></span>
</td>
<td class="nump">785,316<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred financing costs and unamortized discounts</a></td>
<td class="num">(7,935)<span></span>
</td>
<td class="num">(9,857)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease', window );">Hedging adjustments</a></td>
<td class="nump">7,834<span></span>
</td>
<td class="num">(4,424)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Net book value</a></td>
<td class="nump">$ 785,215<span></span>
</td>
<td class="nump">771,035<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate and all-in cost</a></td>
<td class="nump">3.95%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net | October 2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 335,316<span></span>
</td>
<td class="nump">335,316<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest Rate</a></td>
<td class="nump">3.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">All-in cost</a></td>
<td class="nump">4.06%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net | December 2024</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">450,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 450,000<span></span>
</td>
<td class="nump">$ 450,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest Rate</a></td>
<td class="nump">7.75%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">All-in cost</a></td>
<td class="nump">8.14%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unamortized debt discount (premium) and debt issuance costs.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cumulative increase (decrease) in fair value of hedged liability in fair value hedge, attributable to hedged risk. Excludes cumulative basis adjustment related to foreign exchange risk.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SeniorSecuredNotesDue2027Member</td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Senior Secured Notes, Net (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,331<span></span>
</td>
<td class="nump">$ 32,185<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebtExcludingAmortization', window );">Cash coupon</a></td>
<td class="nump">$ 11,862<span></span>
</td>
<td class="nump">$ 3,160<span></span>
</td>
<td class="nump">35,587<span></span>
</td>
<td class="nump">9,701<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="nump">654<span></span>
</td>
<td class="nump">254<span></span>
</td>
<td class="nump">2,003<span></span>
</td>
<td class="nump">775<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Total interest expense</a></td>
<td class="nump">$ 12,516<span></span>
</td>
<td class="nump">$ 3,414<span></span>
</td>
<td class="nump">$ 37,590<span></span>
</td>
<td class="nump">$ 10,476<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCostsAndDiscounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseDebtExcludingAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebtExcludingAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<tr>
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<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Senior Secured Notes, Net - Additional Information (Detail)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 2,389,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 5,352,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">330,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum', window );">Total debt to total assets ratio</a></td>
<td class="nump">0.8333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8333<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8333<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum', window );">Total unencumbered assets to total unsecured debt ratio</a></td>
<td class="nump">1.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net | October 2021</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,600,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 30,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage', window );">Repurchase weighted-average price, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">92.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">88.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Total Debt to Total Assets, Maximum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantTotalDebtToTotalAssetsMaximum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Covenant, Total Unencumbered Assets To Total Unsecured Debt Ratio, Minimum</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCovenantTotalUnencumberedAssetsToTotalUnsecuredDebtRatioMinimum</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:pureItemType</td>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Repurchase Weighted-Average Price, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage</td>
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<td>dtr-types:percentItemType</td>
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<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount of debt extinguished.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-4<br></p></div>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Convertible Notes, Net - Summary of Outstanding Convertible Senior Notes (Detail)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($)</div>
</th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">266,157<span></span>
</td>
<td class="nump">$ 266,157<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet', window );">Deferred financing costs and unamortized discount</a></td>
<td class="num">(1,694)<span></span>
</td>
<td class="num">(2,541)<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Net book value</a></td>
<td class="nump">264,463<span></span>
</td>
<td class="nump">263,616<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net | Convertible Senior Notes Due 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 266,157<span></span>
</td>
<td class="nump">$ 266,157<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest Rate</a></td>
<td class="nump">5.50%<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost', window );">All-in cost</a></td>
<td class="nump">5.79%<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionPrice1', window );">Conversion price (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 36.27<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionRatio1', window );">Conversion rate</a></td>
<td class="nump">0.0275702<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument Interest Rate Stated Percentage Including Amortization Cost</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">bxmt_DebtInstrumentInterestRateStatedPercentageIncludingAmortizationCost</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleConversionPrice1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The price per share of the conversion feature embedded in the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionPrice1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentConvertibleConversionRatio1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionRatio1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of unamortized debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_ConvertibleSeniorNotesDue2027Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Convertible Notes, Net - Additional Information (Detail) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SharePrice', window );">Share price (in dollars per share)</a></td>
<td class="nump">$ 18.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 2,389<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 5,352<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued interest payable</a></td>
<td class="nump">64,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">64,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 77,855<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage', window );">Weighted-average price of repurchase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on extinguishment of debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestPayableCurrentAndNoncurrent', window );">Accrued interest payable</a></td>
<td class="nump">$ 649<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 649<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,300<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Repurchase Weighted-Average Price, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentRepurchaseWeightedAveragePricePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount of debt extinguished.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtAmount</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-2<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481303/470-50-40-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest payable on debt, including, but not limited to, trade payables.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPayableCurrentAndNoncurrent</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Price of a single share of a number of saleable stocks of a company.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Convertible Notes, Net - Summary of Details about Interest Expense (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 27,331<span></span>
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<td class="nump">$ 32,185<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebtExcludingAmortization', window );">Cash coupon</a></td>
<td class="nump">$ 3,660<span></span>
</td>
<td class="nump">$ 3,874<span></span>
</td>
<td class="nump">10,979<span></span>
</td>
<td class="nump">12,124<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts', window );">Discount and issuance cost amortization</a></td>
<td class="nump">282<span></span>
</td>
<td class="nump">305<span></span>
</td>
<td class="nump">847<span></span>
</td>
<td class="nump">944<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseDebt', window );">Total interest expense</a></td>
<td class="nump">$ 3,942<span></span>
</td>
<td class="nump">$ 4,179<span></span>
</td>
<td class="nump">$ 11,826<span></span>
</td>
<td class="nump">$ 13,068<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCostsAndDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense attributable to debt discount (premium) and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCostsAndDiscounts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td>debit</td>
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<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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-Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1I<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I<br><br>Reference 30: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br><br>Reference 31: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense for debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-6<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents the portion of interest incurred in the period on debt arrangements that was charged against earnings, excluding amortization of debt discount (premium) and financing costs.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69F<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69F<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1F<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1F<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseDebtExcludingAmortization</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments - Summary of Outstanding Foreign Exchange Derivatives Designated as Net Investment Hedges of Foreign Currency Risk (Detail) - Designated Hedges - Net Investment Hedges<br> &#8364; in Thousands, &#163; in Thousands, kr in Thousands, SFr in Thousands, $ in Thousands, $ in Thousands</strong></div></th>
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<div>Sep. 30, 2025 </div>
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<div>Sep. 30, 2025 </div>
<div>GBP (&#163;) </div>
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<div>Sep. 30, 2025 </div>
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<div>Sep. 30, 2025 </div>
<div>CAD ($) </div>
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<div>Sep. 30, 2025 </div>
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<div>derivative_instrument</div>
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<div>Dec. 31, 2024 </div>
<div>SEK (kr) </div>
<div>derivative_instrument</div>
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<div>Dec. 31, 2024 </div>
<div>GBP (&#163;) </div>
<div>derivative_instrument</div>
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<th class="th">
<div>Dec. 31, 2024 </div>
<div>EUR (&#8364;) </div>
<div>derivative_instrument</div>
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<th class="th">
<div>Dec. 31, 2024 </div>
<div>AUD ($) </div>
<div>derivative_instrument</div>
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<div>Dec. 31, 2024 </div>
<div>CHF (SFr) </div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell SEK Forward</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | kr</a></td>
<td class="nump">kr 970,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">kr 971,180<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell GBP Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 700,195<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 604,739<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell EUR Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 657,309<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 603,910<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell AUD Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">8<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 383,504<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 355,703<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell CAD Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 120,877<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Buy USD / Sell CHF Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | SFr</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">SFr 52<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">SFr 6,752<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 25<br> -Paragraph 6A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480682/815-20-25-6A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
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<tr>
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<td>us-gaap_</td>
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<tr>
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<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Nominal or face amount used to calculate payment on derivative.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 181<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-181<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeNotionalAmount</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeNumberOfInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of derivative instruments of a particular group held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478795/946-210-50-6<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477439/946-210-55-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13(Column A)(Footnote 3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13(Column C))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5A<br> -Subparagraph (SX 210.12-13A(Column B))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeNumberOfInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwedishKronaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_NetInvestmentHedgingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_NetInvestmentHedgingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellGreatBritainPoundMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellEuropeanDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellAustralianDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellCanadianDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=bxmt_ForeignExchangeContractBuyUnitedStatesDollarSellSwissFrancMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments - Summary of Non-designated Hedges (Detail) - Derivatives not designated as hedging instruments<br> &#8364; in Thousands, &#163; in Thousands, SFr in Thousands</strong></div></th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>GBP (&#163;) </div>
<div>derivative_instrument</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>EUR (&#8364;) </div>
<div>derivative_instrument</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>CHF (SFr) </div>
<div>derivative_instrument</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>GBP (&#163;) </div>
<div>derivative_instrument</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Buy GBP / Sell USD Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#163;</a></td>
<td class="nump">&#163; 109,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 54,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Buy USD / Sell GBP Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="nump">3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#163;</a></td>
<td class="nump">&#163; 109,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 54,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Buy EUR / Sell USD Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 35,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Buy USD / Sell EUR Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 35,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Buy CHF / Sell USD Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">1<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Nominal or face amount used to calculate payment on derivative.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of derivative instruments of a particular group held by the entity.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments - Summary of Outstanding Interest Rate Derivatives Designated as Hedges of Interest Rate Risk (Detail) - Fair Value Hedging - Designated Hedges - Interest rate swap<br> $ in Thousands</strong></div></th>
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<th class="th" colspan="1">12 Months Ended</th>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNumberOfInstrumentsHeld', window );">Number of instruments | derivative_instrument</a></td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeNotionalAmount', window );">Notional amount | $</a></td>
<td class="nump">$ 450,000<span></span>
</td>
<td class="nump">$ 450,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Fixed Rate</a></td>
<td class="nump">3.81%<span></span>
</td>
<td class="nump">3.81%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAverageRemainingMaturity1', window );">Maturity (Years)</a></td>
<td class="text">4 years 2 months 12 days<span></span>
</td>
<td class="text">4 years 10 months 24 days<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAverageRemainingMaturity1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Average remaining period until maturity of the derivative contract, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAverageRemainingMaturity1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeFixedInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fixed interest rate related to the interest rate derivative.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeFixedInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 25<br> -Paragraph 6A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480682/815-20-25-6A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Nominal or face amount used to calculate payment on derivative.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 181<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-181<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeNumberOfInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of derivative instruments of a particular group held by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478795/946-210-50-6<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477439/946-210-55-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13(Column A)(Footnote 3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SX 210.12-13(Column C))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 320<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5A<br> -Subparagraph (SX 210.12-13A(Column B))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeNumberOfInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_FairValueHedgingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_InterestRateSwapMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments - Carrying Amount and Cumulative Basis Adjustments (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract', window );"><strong>Derivative Instruments and Hedging Activities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgedLiabilityFairValueHedge', window );">Carrying Amount of the Hedged Assets/ Liabilities</a></td>
<td class="nump">$ 451,189<span></span>
</td>
<td class="nump">$ 437,759<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease', window );">Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount</a></td>
<td class="nump">$ 7,834<span></span>
</td>
<td class="num">$ (4,424)<span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liability hedged in fair value hedging relationship.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgedLiabilityFairValueHedge</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cumulative increase (decrease) in fair value of hedged liability in fair value hedge, attributable to hedged risk. Excludes cumulative basis adjustment related to foreign exchange risk.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgedLiabilityFairValueHedgeCumulativeIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments - Schedule of Derivative Instruments in Statement of Operations (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,059)<span></span>
</td>
<td class="nump">$ 6,346<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeForwardMember', window );">Foreign Exchange Forward</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="nump">$ 5,493<span></span>
</td>
<td class="nump">$ 4,805<span></span>
</td>
<td class="nump">9,711<span></span>
</td>
<td class="nump">14,514<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated Hedges | Foreign Exchange Forward | Interest Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="nump">6,174<span></span>
</td>
<td class="nump">4,442<span></span>
</td>
<td class="nump">13,820<span></span>
</td>
<td class="nump">13,309<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Designated Hedges | Foreign Exchange Forward | Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="num">(674)<span></span>
</td>
<td class="nump">399<span></span>
</td>
<td class="num">(1,884)<span></span>
</td>
<td class="nump">1,244<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Non-Designated Hedges | Foreign Exchange Forward | Interest Income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="num">(46)<span></span>
</td>
<td class="num">(22)<span></span>
</td>
<td class="num">(96)<span></span>
</td>
<td class="num">(32)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Non-Designated Hedges | Foreign Exchange Forward | Interest Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossLineItems', window );"><strong>Derivative Instruments, Gain (Loss) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeGainLossOnDerivativeNet', window );">Increase (Decrease) to Net Interest Income Recognized from Derivatives</a></td>
<td class="nump">$ 39<span></span>
</td>
<td class="num">$ (14)<span></span>
</td>
<td class="num">$ (2,129)<span></span>
</td>
<td class="num">$ (7)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the fair value of derivatives recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeGainLossOnDerivativeNet</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4D<br> -Subparagraph (a)(5)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4D<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentRiskAxis=us-gaap_ForeignExchangeForwardMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_InterestIncomeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementLocationAxis=us-gaap_InterestExpenseMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments - Net Gains (Losses) on Fair Value Hedging Relationships (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract', window );"><strong>Derivative Instruments and Hedging Activities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_InterestExpenseOperating', window );">Total interest and related expenses presented in the consolidated statements of operations</a></td>
<td class="nump">$ 247,055<span></span>
</td>
<td class="nump">$ 321,744<span></span>
</td>
<td class="nump">$ 754,015<span></span>
</td>
<td class="nump">$ 1,004,854<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1', window );">Total gain on derivative instruments</a></td>
<td class="nump">486<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,774<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1', window );">Fair value basis adjustment on hedged items</a></td>
<td class="num">(494)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7,834)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments', window );">Derivative settlements and accruals</a></td>
<td class="nump">674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,116<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings', window );">Net (Loss) Gain on Fair Value Hedging Relationships</a></td>
<td class="nump">$ 666<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,056<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) On Settlements and Accruals of Fair Value Hedging Instruments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_GainLossOnSettlementsAndAccrualsOfFairValueHedgingInstruments</td>
</tr>
<tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) from the increase (decrease) in fair value of derivative and nonderivative instruments designated as fair value hedging instruments recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476148/220-40-50-21<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ChangeInUnrealizedGainLossOnFairValueHedgingInstruments1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of the increase (decrease) in fair value of the hedged item in a fair value hedge recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4C<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476148/220-40-50-21<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ChangeInUnrealizedGainLossOnHedgedItemInFairValueHedge1</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Total amount of gain (loss) derived from fair value hedges recognized in earnings in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnFairValueHedgesRecognizedInEarnings</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense classified as operating.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(9))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>debit</td>
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<html>
<head>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments - Summary of Fair Value of Derivative Financial Instruments (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">$ 19,505<span></span>
</td>
<td class="nump">$ 72,454<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">2,557<span></span>
</td>
<td class="nump">5,238<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Derivatives designated as hedging instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">17,752<span></span>
</td>
<td class="nump">69,433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">2,296<span></span>
</td>
<td class="nump">4,386<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Derivatives designated as hedging instruments | Foreign exchange contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">9,867<span></span>
</td>
<td class="nump">69,433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">2,296<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember', window );">Derivatives designated as hedging instruments | Interest rate derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">7,885<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">4,386<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Derivatives not designated as hedging instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">1,753<span></span>
</td>
<td class="nump">3,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">852<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Derivatives not designated as hedging instruments | Foreign exchange contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">1,753<span></span>
</td>
<td class="nump">3,021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">261<span></span>
</td>
<td class="nump">852<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember', window );">Derivatives not designated as hedging instruments | Interest rate derivatives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivative assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivative liabilities</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Derivative Financial Instruments - Summary of Effect of Derivative Financial Instruments on Consolidated Statements of Comprehensive Income And Operations (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 25,174<span></span>
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<td class="num">$ (178,488)<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax', window );">Total</a></td>
<td class="nump">25,174<span></span>
</td>
<td class="num">(178,488)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax', window );">Foreign exchange contracts</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax', window );">Total</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities', window );">Payments under derivative financial instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">198,264<span></span>
</td>
<td class="nump">$ 140,566<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_NetInvestmentHedgingMember', window );">Net Investment Hedges | Foreign exchange contracts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems', window );"><strong>Derivative Instruments and Hedging Activities Disclosures [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsForDerivativeInstrumentInvestingActivities', window );">Payments under derivative financial instruments</a></td>
<td class="nump">$ 68,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments', window );">Payments under derivative financial instruments, net of adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 102,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Comprehensive Income (Loss), Cash Flow And Net Investment Hedge, Gain (Loss), Reclassification, Before Tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherComprehensiveIncomeLossCashFlowAndNetInvestmentHedgeGainLossReclassificationBeforeTax</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Other Comprehensive Income (Loss), Net Investment Hedge and Cash Flow Hedge, Gain (Loss), Before Reclassification And Tax</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OtherComprehensiveIncomeLossNetInvestmentHedgeAndCashFlowHedgeGainLossBeforeReclassificationAndTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Payments for Derivative Instrument, Investing Activities, Net Of Adjustments</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_PaymentsForDerivativeInstrumentInvestingActivitiesNetOfAdjustments</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 181<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-181<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EEE<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EEE<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EEE<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EEE<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EEE<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EEE<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4EE<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4EE<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosuresLineItems</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax and reclassification, of gain (loss) from derivative designated and qualifying as net investment hedge.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4A<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4CCC<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CCC<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossBeforeReclassificationAndTax</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of reclassification from accumulated other comprehensive income (AOCI) for gain (loss) from derivative designated and qualifying as net investment hedge.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 182<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4CCC<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CCC<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetInvestmentHedgeGainLossReclassificationBeforeTax</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for derivative instruments during the period, which are classified as investing activities, excluding those designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_PaymentsForDerivativeInstrumentInvestingActivities</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsGainLossByHedgingRelationshipAxis=us-gaap_NetInvestmentHedgingMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Derivative Financial Instruments - Additional Information (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract', window );"><strong>Derivative Instruments and Hedging Activities Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CollateralAlreadyPostedAggregateFairValue', window );">Collateral deposited under derivative agreements</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 4,810<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CollateralAlreadyPostedAggregateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate fair value of assets that are already posted, at the end of the reporting period, as collateral for derivative instruments with credit-risk-related contingent features.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 185<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480401/815-10-55-185<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4H<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4H<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CollateralAlreadyPostedAggregateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Additional Information (Detail)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">1 Months Ended</th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Oct. 29, 2025 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>May 31, 2013 </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Jun. 30, 2024 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>agreement </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jul. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2023 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CommonAndPreferredStockSharesAuthorized', window );">Shares authorized (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">100,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StockRepurchaseProgramAuthorizedAmount1', window );">Share repurchase program, authorized, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Repurchases of class A common stock (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,653,583<span></span>
</td>
<td class="nump">628,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,066<span></span>
</td>
<td class="nump">$ 39<span></span>
</td>
<td class="nump">$ 31,647<span></span>
</td>
<td class="nump">$ 10,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 47,700<span></span>
</td>
<td class="nump">$ 11,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased', window );">Weighted average price per share (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17.97<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17.49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17.97<span></span>
</td>
<td class="nump">$ 17.49<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1', window );">Share repurchase program, remaining authorized, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 73,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 73,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized', window );">Common shares reserved for issuance (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan', window );">Common stock, shares issued under dividend reinvestment program (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">652<span></span>
</td>
<td class="nump">4,647<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Shares issued (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,875,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance', window );">Number of shares available for future issuance (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,966,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,966,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SaleOfStockNumberOfEquityDistributionAgreements', window );">Number of equity distribution agreements | agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SaleOfStockMaximumAuthorizedAmount', window );">Aggregate sales price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 699,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction', window );">Number of shares sold (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SaleOfStockRemainingAuthorizedAmount', window );">Aggregate sales price remaining available</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 480,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 480,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 1.41<span></span>
</td>
<td class="nump">$ 1.71<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DividendsCommonStock', window );">Class A common stock dividends declared</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 80,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,320<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,268<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax', window );">Net realized and unrealized gains related to changes in fair value of derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">93,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">272,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax', window );">Cumulative unrealized currency translation adjustment on assets and liabilities denominated in foreign currencies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">82,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">263,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,597,403<span></span>
</td>
<td class="nump">$ 3,623,537<span></span>
</td>
<td class="nump">$ 3,688,718<span></span>
</td>
<td class="nump">$ 3,860,397<span></span>
</td>
<td class="nump">$ 4,004,598<span></span>
</td>
<td class="nump">$ 4,164,587<span></span>
</td>
<td class="nump">3,597,403<span></span>
</td>
<td class="nump">$ 3,860,397<span></span>
</td>
<td class="nump">3,794,189<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,387,504<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent Event</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_StockRepurchaseProgramAuthorizedAmount1', window );">Share repurchase program, authorized, amount</a></td>
<td class="nump">$ 150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Repurchases of class A common stock (in shares) | shares</a></td>
<td class="nump">3,336,416<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="nump">$ 61,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased', window );">Weighted average price per share (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 18.38<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1', window );">Share repurchase program, remaining authorized, amount</a></td>
<td class="nump">$ 11,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LegalEntityAxis=bxmt_UnconsolidatedEntitiesMember', window );">Unconsolidated Entities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax', window );">Net realized and unrealized gains related to changes in fair value of derivative instruments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,500)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember', window );">Multifamily Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">45,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_ParentMember', window );">Stockholders' Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Repurchases of class A common stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,066<span></span>
</td>
<td class="nump">39<span></span>
</td>
<td class="nump">31,647<span></span>
</td>
<td class="nump">10,998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,590,702<span></span>
</td>
<td class="nump">3,616,772<span></span>
</td>
<td class="nump">3,681,968<span></span>
</td>
<td class="nump">3,844,592<span></span>
</td>
<td class="nump">3,984,504<span></span>
</td>
<td class="nump">4,144,753<span></span>
</td>
<td class="nump">3,590,702<span></span>
</td>
<td class="nump">3,844,592<span></span>
</td>
<td class="nump">3,787,308<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,367,711<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_ParentMember', window );">Stockholders' Equity | Multifamily Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">39,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember', window );">Non-Controlling Interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,701<span></span>
</td>
<td class="nump">$ 6,765<span></span>
</td>
<td class="nump">$ 6,750<span></span>
</td>
<td class="nump">$ 15,805<span></span>
</td>
<td class="nump">$ 20,094<span></span>
</td>
<td class="nump">$ 19,834<span></span>
</td>
<td class="nump">6,701<span></span>
</td>
<td class="nump">$ 15,805<span></span>
</td>
<td class="nump">6,881<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,793<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember', window );">Non-Controlling Interests | Multifamily Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Change in equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CommonAndPreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of total shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CommonAndPreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Dividend Reinvestment And Direct Stock Purchase Plan, Remaining Shares Available For Future Issuance</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DividendReinvestmentAndDirectStockPurchasePlanRemainingSharesAvailableForFutureIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Dividend Reinvestment And Direct Stock Purchase Plan, Shares Authorized</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DividendReinvestmentAndDirectStockPurchasePlanSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SaleOfStockMaximumAuthorizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sale Of Stock, Maximum Authorized Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SaleOfStockMaximumAuthorizedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SaleOfStockNumberOfEquityDistributionAgreements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sale Of Stock, Number Of Equity Distribution Agreements</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SaleOfStockNumberOfEquityDistributionAgreements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SaleOfStockRemainingAuthorizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Sale Of Stock, Remaining Authorized Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SaleOfStockRemainingAuthorizedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StockRepurchaseProgramAuthorizedAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount authorized for purchase of share under share repurchase plan. Includes, but is not limited to, repurchase of stock and unit of ownership.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 505<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481520/505-30-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_StockRepurchaseProgramAuthorizedAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accumulated adjustment, net of tax, that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency from the functional currency of the reporting entity, net of reclassification of realized foreign currency translation gains or losses.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 14A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 5A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482736/825-10-45-5A<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-10A<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 815<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480870/815-30-50-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 220<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after tax, of accumulated gain (loss) on derivative instrument designated and qualifying as cash flow hedge included in assessment of hedge effectiveness.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AociLossCashFlowHedgeCumulativeGainLossAfterTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfStockLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting 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Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 19: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 20: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 21: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfStockLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -SubTopic 405<br> -Topic 942<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477787/942-405-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued or sold by the subsidiary or equity method investee per stock transaction.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SaleOfStockNumberOfSharesIssuedInTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Per share weighted-average price paid for shares purchased on open market for issuance under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period from a dividend reinvestment plan (DRIP). A dividend reinvestment plan allows the shareholders to reinvest dividends paid to them by the entity on new issues of stock by the entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount remaining authorized for purchase of share under share repurchase plan. Includes, but is not limited to, repurchase of stock and unit of ownership.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 205<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478009/946-205-45-4<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=bxmt_UnconsolidatedEntitiesMember</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=bxmt_MultifamilyJointVentureMember</td>
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<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_ParentMember</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Schedule of Movement in Outstanding Shares of Class A Common Stock, Restricted Class A Common Stock and Deferred Stock Units (Detail) - shares<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 31, 2013</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits', window );">Beginning balance (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173,204,190<span></span>
</td>
<td class="nump">173,569,397<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of class A common stock (in shares)</a></td>
<td class="nump">25,875,000<span></span>
</td>
<td class="nump">1,778<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Repurchase of class A common stock (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,653,583)<span></span>
</td>
<td class="num">(628,884)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted class A common stock, net (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">467,180<span></span>
</td>
<td class="nump">401,901<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits', window );">Issuance of deferred stock units (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">32,165<span></span>
</td>
<td class="nump">42,338<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits', window );">Ending balance (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">171,051,730<span></span>
</td>
<td class="nump">173,389,399<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited', window );">Shares forfeited (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">43,832<span></span>
</td>
<td class="nump">102,484<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=srt_DirectorMember', window );">Director</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted class A common stock, net (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,140<span></span>
</td>
<td class="nump">41,282<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=bxmt_DeferredStockUnitsMember', window );">Deferred Stock Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity [Roll Forward]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">331,611<span></span>
</td>
<td class="nump">401,802<span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Common Stock, Shares Outstanding, Including Deferred Stock Units</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CommonStockSharesOutstandingIncludingDeferredStockUnits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:sharesItemType</td>
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<tr>
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<td>na</td>
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<tr>
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<td>instant</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Stock Issued During Period, Shares, Deferred Stock Units</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_StockIssuedDuringPeriodSharesDeferredStockUnits</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td>na</td>
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<tr>
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<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares related to Restricted Stock Award forfeited during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Schedule of Dividend Activity (Detail) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividends declared on common stock and deferred stock units (in dollars per share)</a></td>
<td class="nump">$ 0.47<span></span>
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<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.47<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 0.62<span></span>
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<td class="nump">$ 1.41<span></span>
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<td class="nump">$ 1.71<span></span>
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<td class="nump">$ 80,200<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="nump">143<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 241<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 483<span></span>
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<td class="nump">$ 694<span></span>
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<td class="nump">80,381<span></span>
</td>
<td class="nump">$ 80,796<span></span>
</td>
<td class="nump">$ 80,837<span></span>
</td>
<td class="nump">81,547<span></span>
</td>
<td class="nump">$ 107,873<span></span>
</td>
<td class="nump">$ 107,901<span></span>
</td>
<td class="nump">242,014<span></span>
</td>
<td class="nump">297,318<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
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<td class="nump">$ 80,238<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 81,306<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 241,531<span></span>
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<td class="nump">$ 296,624<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfStockLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -SubTopic 405<br> -Topic 942<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477787/942-405-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Dividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -SubTopic 405<br> -Topic 942<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477787/942-405-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCommonStock</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind dividends declared for award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity - Schedule of Basic and Diluted Earnings Per Share on Weighted-Average of Both Restricted and Unrestricted Class A Common Stock Outstanding (Detail) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net (loss) income</a></td>
<td class="nump">$ 63,397<span></span>
</td>
<td class="num">$ (56,384)<span></span>
</td>
<td class="nump">$ 70,009<span></span>
</td>
<td class="num">$ (241,279)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted-average shares outstanding, basic (in shares)</a></td>
<td class="nump">171,812,685<span></span>
</td>
<td class="nump">173,637,101<span></span>
</td>
<td class="nump">171,903,127<span></span>
</td>
<td class="nump">173,881,116<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted-average shares outstanding, diluted (in shares)</a></td>
<td class="nump">171,812,685<span></span>
</td>
<td class="nump">173,637,101<span></span>
</td>
<td class="nump">171,903,127<span></span>
</td>
<td class="nump">173,881,116<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Per share amount, basic (in dollars per share)</a></td>
<td class="nump">$ 0.37<span></span>
</td>
<td class="num">$ (0.32)<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="num">$ (1.39)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Per share amount, diluted (in dollars per share)</a></td>
<td class="nump">$ 0.37<span></span>
</td>
<td class="num">$ (0.32)<span></span>
</td>
<td class="nump">$ 0.41<span></span>
</td>
<td class="num">$ (1.39)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities', window );">Effect of dilutive securities - convertible notes (in shares)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-1<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible debt securities using the if-converted method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 42<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-42<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 40<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-40<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToConversionOfDebtSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479857/480-10-S50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479887/480-10-S45-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3A<br> -Subparagraph (24)(d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480244/480-10-S99-3A<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 105<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 9<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479343/105-10-65-9<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 805<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476176/805-60-65-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-3<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-11<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-11<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 5<br> -Subparagraph (SAB Topic 6.B)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-5<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-10<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-11<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 16<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-16<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-10<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Expenses - Additional Information (Detail) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementAndServiceFeesRate', window );">Management base fee percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementAndServiceFeesIncentiveRate', window );">Management incentive fee percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ManagementFeeCoreEarningsFeePercentage', window );">Management core earnings fee percentage</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ManagementFeeCoreEarningsMeasurementPeriod', window );">Management core earnings fee measurement period (in years)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ManagementFeeCoreEarningsMinimumThreshold', window );">Management core earnings fee minimum threshold</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementFeeExpense', window );">Management fees</a></td>
<td class="nump">$ 16,849,000<span></span>
</td>
<td class="nump">$ 18,605,000<span></span>
</td>
<td class="nump">$ 51,120,000<span></span>
</td>
<td class="nump">$ 56,258,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AccruedManagementAndIncentiveFeesPayable', window );">Accrued management and incentive fees payable</a></td>
<td class="nump">16,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,800,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,500,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember', window );">Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncentiveFeeExpense', window );">Total incentive compensation payments</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
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<td class="text">&#160;<span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AccruedManagementAndIncentiveFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Accrued management and incentive fees payable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AccruedManagementAndIncentiveFeesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ManagementFeeCoreEarningsFeePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Management Fee, Core Earnings Fee, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ManagementFeeCoreEarningsFeePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ManagementFeeCoreEarningsMeasurementPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Management Fee, Core Earnings, Measurement Period</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ManagementFeeCoreEarningsMeasurementPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ManagementFeeCoreEarningsMinimumThreshold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Management Fee, Core Earnings, Minimum Threshold</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ManagementFeeCoreEarningsMinimumThreshold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncentiveFeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for incentive fee based on performance under arrangement to manage operations, including, but not limited to, investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 850<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncentiveFeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementAndServiceFeesIncentiveRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Rate based on performance for management and service fees under arrangement to manage operations, including, but not limited to, investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementAndServiceFeesIncentiveRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementAndServiceFeesRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Rate for management and service fees under arrangement to manage operations, including, but not limited to, investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementAndServiceFeesRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 850<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Other Expenses - Schedule of General and Administrative Expenses (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfessionalFees', window );">Professional services</a></td>
<td class="nump">$ 3,351<span></span>
</td>
<td class="nump">$ 3,753<span></span>
</td>
<td class="nump">$ 11,543<span></span>
</td>
<td class="nump">$ 11,709<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherGeneralAndAdministrativeExpense', window );">Operating and other costs</a></td>
<td class="nump">2,094<span></span>
</td>
<td class="nump">1,686<span></span>
</td>
<td class="nump">5,824<span></span>
</td>
<td class="nump">5,044<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense', window );">Subtotal</a></td>
<td class="nump">5,445<span></span>
</td>
<td class="nump">5,439<span></span>
</td>
<td class="nump">17,367<span></span>
</td>
<td class="nump">16,753<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationAbstract', window );"><strong>Non-cash compensation expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RestrictedStockExpense', window );">Restricted class A common stock earned</a></td>
<td class="nump">7,130<span></span>
</td>
<td class="nump">7,728<span></span>
</td>
<td class="nump">21,053<span></span>
</td>
<td class="nump">23,400<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DirectorShareBasedPaymentArrangementExpense', window );">Director stock-based compensation</a></td>
<td class="nump">172<span></span>
</td>
<td class="nump">256<span></span>
</td>
<td class="nump">517<span></span>
</td>
<td class="nump">658<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Subtotal</a></td>
<td class="nump">7,302<span></span>
</td>
<td class="nump">7,984<span></span>
</td>
<td class="nump">21,570<span></span>
</td>
<td class="nump">24,058<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">Total general and administrative expenses</a></td>
<td class="nump">12,747<span></span>
</td>
<td class="nump">13,423<span></span>
</td>
<td class="nump">38,937<span></span>
</td>
<td class="nump">40,811<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_MultifamilyJointVentureMember', window );">Multifamily Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Schedule of Equity Method Investments [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense', window );">Subtotal</a></td>
<td class="nump">$ 66<span></span>
</td>
<td class="nump">$ 125<span></span>
</td>
<td class="nump">$ 259<span></span>
</td>
<td class="nump">$ 668<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DirectorShareBasedPaymentArrangementExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Director Share-Based Payment Arrangement, Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DirectorShareBasedPaymentArrangementExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>General And Administrative Expense, Excluding Non-Cash Compensation Expense</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_GeneralAndAdministrativeExpenseExcludingNonCashCompensationExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of general and administrative expense classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 48<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Subparagraph (k)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalFees</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedStockExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for award of restricted stock or unit under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedStockExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationAbstract</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>May 31, 2013</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax provision</a></td>
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<td class="nump">$ 3,133<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">1,778<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation', window );">NOL limitation per annum</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 159,000<span></span>
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<td class="nump">$ 159,000<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Operating Loss Carryforwards, Limitations On Use, Annual Limitation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OperatingLossCarryforwardsLimitationsOnUseAnnualLimitation</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
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<tr>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-4<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-21<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 220<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476153/220-40-55-14<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.7)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-10<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (h)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(9))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Subparagraph (a)<br> -SubTopic 20<br> -Topic 740<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482659/740-20-45-2<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h))<br> -SubTopic 10<br> -Topic 235<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLossCarryforwards</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(28))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 505<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478448/946-505-50-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(i)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock-Based Incentive Plans - Additional Information (Detail)<br> $ in Millions</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>plan </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans', window );">Number of benefit plans | plan</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember', window );">Restricted Class A Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Restricted shares, vesting period (in years)</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">1,582,654<span></span>
</td>
<td class="nump">2,142,759<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost relating to nonvested share-based compensation | $</a></td>
<td class="nump">$ 30.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Unrecognized compensation cost expected to be recognized over weighted average period (in years)</a></td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember', window );">Restricted Class A Common Stock | Vest in 2025</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">304,010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember', window );">Restricted Class A Common Stock | Vest in 2026</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">863,026<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember', window );">Restricted Class A Common Stock | Vest in 2027</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">415,618<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember', window );">Class A Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Maximum number of shares available under plan (in shares)</a></td>
<td class="nump">10,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Number of shares available under plan (in shares)</a></td>
<td class="nump">5,980,325<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Number Of Stock Incentive Plans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfStockIncentivePlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cost not yet recognized for nonvested award under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(v)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 4: 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-SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(01)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 26: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(02)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 27: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(03)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 28: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 29: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 30: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares authorized for issuance under share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<DOCUMENT>
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<FILENAME>R106.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stock-Based Incentive Plans - Movement in Outstanding Shares of Restricted Class A Common Stock and Weighted-Average Grant Date Fair Value Per Share (Detail) - Restricted Class A Common Stock<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2025 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Restricted Class A Common Stock</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Beginning balance (in shares) | shares</a></td>
<td class="nump">2,142,759<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">511,012<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares) | shares</a></td>
<td class="num">(1,027,285)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeited (in shares) | shares</a></td>
<td class="num">(43,832)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Ending balance (in shares) | shares</a></td>
<td class="nump">1,582,654<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward', window );"><strong>Weighted-Average Grant Date Fair Value Per Share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Beginning balance (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 21.13<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">17.88<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">21.17<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">19.41<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Ending balance (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 20.10<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(03)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(03)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(01)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(01)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(02)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(02)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Values - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivatives</a></td>
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<td class="nump">$ 72,454<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivatives</a></td>
<td class="nump">2,557<span></span>
</td>
<td class="nump">5,238<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Level 1</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivatives</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivatives</a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Level 2</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeAssets', window );">Derivatives</a></td>
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<td class="text">&#160;<span></span>
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<td class="nump">2,557<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Derivatives</a></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilities</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesFairValueDisclosureAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Values - Additional Information (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsFairValueDisclosure', window );">Investments in unconsolidated entities</a></td>
<td class="nump">$ 104,867,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of investments accounted under the equity method.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2E<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(12))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsFairValueDisclosure</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
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<DOCUMENT>
<TYPE>XML
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair Values - Schedule of Details of Book Value, Face Amount, and Fair Value of Financial Instruments (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CashAndCashEquivalents', window );">Cash and cash equivalents, book value</a></td>
<td class="nump">$ 377,921<span></span>
</td>
<td class="nump">$ 323,483<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure', window );">Cash and cash equivalents, fair value</a></td>
<td class="nump">377,921<span></span>
</td>
<td class="nump">323,483<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net, book value</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess', window );">Loan receivable, net, face amount</a></td>
<td class="nump">18,188,534<span></span>
</td>
<td class="nump">19,203,126<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LoansReceivableFairValueDisclosure', window );">Loan receivable, net, fair value</a></td>
<td class="nump">17,407,513<span></span>
</td>
<td class="nump">18,288,958<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLiabilitiesAmount', window );">Loan participations sold, net, book value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount', window );">Loan participations sold, net, face amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">100,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LoanParticipationsSoldLiabilitiesFairValue', window );">Loan participations sold, net, fair value</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">99,822<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">9,540,224<span></span>
</td>
<td class="nump">9,696,334<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">9,548,332<span></span>
</td>
<td class="nump">9,705,529<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">9,450,250<span></span>
</td>
<td class="nump">9,590,400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">2,470,067<span></span>
</td>
<td class="nump">1,936,956<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">2,479,417<span></span>
</td>
<td class="nump">1,936,967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">2,455,101<span></span>
</td>
<td class="nump">1,838,089<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">627,916<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">619,599<span></span>
</td>
<td class="nump">1,218,639<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">1,774,913<span></span>
</td>
<td class="nump">1,732,073<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">1,808,127<span></span>
</td>
<td class="nump">1,764,437<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">1,812,573<span></span>
</td>
<td class="nump">1,765,668<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">785,215<span></span>
</td>
<td class="nump">771,035<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">785,316<span></span>
</td>
<td class="nump">785,316<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">801,487<span></span>
</td>
<td class="nump">780,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">264,463<span></span>
</td>
<td class="nump">263,616<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Long-term debt, face amount</a></td>
<td class="nump">266,157<span></span>
</td>
<td class="nump">266,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtFairValue', window );">Long-term debt, fair value</a></td>
<td class="nump">$ 262,899<span></span>
</td>
<td class="nump">$ 257,707<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash And Cash Equivalents</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationLiabilitiesPrincipalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participation Liabilities, Principal Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationLiabilitiesPrincipalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldLiabilitiesAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Liabilities, Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldLiabilitiesAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldLiabilitiesFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Loan Participations Sold, Liabilities, Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldLiabilitiesFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentsFinancialAssetsBalanceSheetGroupingsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, fee, and loan in process, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLossFeeAndLoanInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansReceivableFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of loan receivable, including, but not limited to, mortgage loans held for investment, finance receivables held for investment, policy loans on insurance contracts.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansReceivableFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (bbb)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -SubTopic 10<br> -Topic 825<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-10<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (c)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482881/825-10-55-12<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Variable Interest Entities - Additional Information (Detail) - loan<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract', window );"><strong>Variable Interest Entity, Primary Beneficiary, Does Not Hold Majority Voting Interest, Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoansModified', window );">Number of loans modified</a></td>
<td class="nump">2<span></span>
</td>
<td class="nump">2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoansModified">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans Modified</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoansModified</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityPrimaryBeneficiaryDoesNotHoldMajorityVotingInterestDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R111.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Variable Interest Entities - Assets and Liabilities of Consolidated VIEs (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Jun. 30, 2025</div></th>
<th class="th"><div>Mar. 31, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Jun. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Dec. 31, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 377,921<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 323,483<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">18,066,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,047,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Current expected credit loss reserve</a></td>
<td class="num">(695,719)<span></span>
</td>
<td class="num">$ (740,851)<span></span>
</td>
<td class="num">$ (741,541)<span></span>
</td>
<td class="num">(733,936)<span></span>
</td>
<td class="num">$ (1,011,059)<span></span>
</td>
<td class="num">$ (893,938)<span></span>
</td>
<td class="num">$ (751,370)<span></span>
</td>
<td class="num">$ (576,936)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">17,371,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,313,582<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">933,635<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">588,185<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">834,219<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">572,253<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">19,699,573<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,801,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="nump">639,372<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">282,847<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
<td class="nump">16,102,170<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,007,766<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Securitized debt obligations, net</a></td>
<td class="nump">2,470,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,936,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember', window );">VIE</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">40,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss', window );">Loans receivable</a></td>
<td class="nump">2,946,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,338,201<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest', window );">Current expected credit loss reserve</a></td>
<td class="num">(133,345)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(202,400)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss', window );">Loans receivable, net</a></td>
<td class="nump">2,813,295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,135,801<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RealEstateAcquiredThroughForeclosure', window );">Real estate owned, net</a></td>
<td class="nump">525,084<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">177,322<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherAssets', window );">Other assets</a></td>
<td class="nump">234,188<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">126,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Assets', window );">Total Assets</a></td>
<td class="nump">3,612,866<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,448,786<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OtherLiabilities', window );">Other liabilities</a></td>
<td class="nump">41,177<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,277<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total Liabilities</a></td>
<td class="nump">2,511,244<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,950,233<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember', window );">VIE | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LiabilitiesAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Securitized debt obligations, net</a></td>
<td class="nump">$ 2,470,067<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,936,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478671/942-235-S50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> 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(a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481404/852-10-50-7<br><br>Reference 36: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30<br><br>Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalent. Cash includes, but is not limited to, currency on hand, demand deposit with financial institution, and account with general characteristic of demand deposit. Cash equivalent includes, but is not limited to, short-term, highly liquid investment that is both readily convertible to known amount of cash and so near maturity that it presents insignificant risk of change in value because of change in interest rate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount excluding accrued interest, of allowance for credit loss on financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, after allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amortized cost excluding accrued interest, before allowance for credit loss, of financing receivable. Excludes net investment in lease.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-3B<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.</p></div>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 480<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 64<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481620/480-10-55-64<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-14<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 944<br> -SubTopic 605<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477548/944-605-55-11<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(b)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAcquiredThroughForeclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of land and buildings obtained through foreclosure proceedings or defeasance in full or partial satisfaction of a debt arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-3<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAcquiredThroughForeclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ConsolidatedEntitiesAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties - Our Manager (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Management fee payable</a></td>
<td class="nump">$ 16,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,849<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,534<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Non-cash compensation expense</a></td>
<td class="nump">$ 7,302<span></span>
</td>
<td class="nump">$ 7,984<span></span>
</td>
<td class="nump">$ 21,570<span></span>
</td>
<td class="nump">$ 24,058<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">170,720,119<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">170,720,119<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172,792,094<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember', window );">Restricted Class A Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">1,582,654<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,582,654<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,142,759<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Restricted shares, vesting period (in years)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember', window );">Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">12,874,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,874,956<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CommonStockSharesOutstandingPercentage', window );">Percentage of stock</a></td>
<td class="nump">7.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_SubsidiaryOfCommonParentMember', window );">Subsidiary of Common Parent</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, shares outstanding (in shares)</a></td>
<td class="nump">8,234,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,234,581<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CommonStockSharesOutstandingPercentage', window );">Percentage of stock</a></td>
<td class="nump">4.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_DirectorMember', window );">Director | Deferred Stock Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">331,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">331,611<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember', window );">BXMT Advisors Limited Liability Company and Affiliates | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Management fee payable</a></td>
<td class="nump">$ 16,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,500<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember', window );">Manager | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RelatedPartyTransactionRenewalTerm', window );">Renewal term (in years)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentForManagementFee', window );">Management fees paid to manager</a></td>
<td class="nump">17,000<span></span>
</td>
<td class="nump">18,700<span></span>
</td>
<td class="nump">$ 52,800<span></span>
</td>
<td class="nump">64,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Expenses</a></td>
<td class="nump">$ 449<span></span>
</td>
<td class="nump">340<span></span>
</td>
<td class="nump">$ 868<span></span>
</td>
<td class="nump">1,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember', window );">Manager | Related Party | Restricted Class A Common Stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Number of shares of restricted class A common stock outstanding (in shares)</a></td>
<td class="nump">828,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">828,213<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue', window );">Aggregate grant fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Restricted shares, vesting period (in years)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Non-cash compensation expense</a></td>
<td class="nump">$ 3,600<span></span>
</td>
<td class="nump">$ 4,200<span></span>
</td>
<td class="nump">$ 10,900<span></span>
</td>
<td class="nump">$ 12,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CommonStockSharesOutstandingPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Common Stock, Shares, Outstanding, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CommonStockSharesOutstandingPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RelatedPartyTransactionRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Related Party Transaction, Renewal Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RelatedPartyTransactionRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Fair Value</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of fee payable for management of fund or trust.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(12)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentForManagementFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount paid to managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 230<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477867/946-230-45-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-17<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentForManagementFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense for share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Period over which grantee's right to exercise award under share-based payment arrangement is no longer contingent on satisfaction of service or performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Includes, but is not limited to, combination of market, performance or service condition.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 718<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(ii)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_SubsidiaryOfCommonParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_SubsidiaryOfCommonParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_DirectorMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_DirectorMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=bxmt_DeferredStockUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=bxmt_DeferredStockUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BxmtAdvisorsLimitedLiabilityCompanyAndAffiliatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BXMTAdvisorsLimitedLiabilityCompanyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties - Incurred Amounts by Related Parties (Detail)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>asset</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>asset</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember', window );">Revantage Corporate Services, LLC and Revantage Global Services Europe S.&#224; r.l, EQ Management, LLC, BRE Hotels &amp; Resorts, LLC LivCor, LLC, NNN PortCo - Reliant | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">$ 3,830<span></span>
</td>
<td class="nump">422<span></span>
</td>
<td class="nump">$ 7,471<span></span>
</td>
<td class="nump">1,027<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember', window );">Brio Real Estate Services, LLC, Brio Real Estate (UK) Ltd And Brio Real Estate (AUS) Pty Ltd | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">1,244<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">2,345<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member', window );">Revantage Corporate Services, LLC And Revantage Global Services Europe S.&#224; r.l. | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">353<span></span>
</td>
<td class="nump">384<span></span>
</td>
<td class="nump">696<span></span>
</td>
<td class="nump">945<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_PerformPropertiesLLCMember', window );">Perform Properties, LLC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">1,903<span></span>
</td>
<td class="nump">38<span></span>
</td>
<td class="nump">2,797<span></span>
</td>
<td class="nump">82<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_LivCorLLCMember', window );">LivCor LLC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">46<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">322<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BREHotelsResortsLLCMember', window );">BRE Hotels &amp; Resorts, LLC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">284<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,153<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_LendingOneMember', window );">LendingOne | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">158<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember', window );">Total | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">897<span></span>
</td>
<td class="nump">165<span></span>
</td>
<td class="nump">2,170<span></span>
</td>
<td class="nump">337<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCMember', window );">BTIG, LLC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">84<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">124<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCMember', window );">BTIG, LLC | Related Party | Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCMember', window );">BTIG, LLC | Related Party | Convertible Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ExtinguishmentOfDebtAmount', window );">Repurchase of aggregate principal amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_GryphonMutualPropertyAmericaICGryphonMember', window );">Gryphon Mutual Property Americas IC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">697<span></span>
</td>
<td class="nump">57<span></span>
</td>
<td class="nump">1,845<span></span>
</td>
<td class="nump">142<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AmountContributedToCaptiveTowardsInsurancePremium', window );">Insurance costs inclusive of premiums, capital surplus contributions, taxes and pro rata share of expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,400<span></span>
</td>
<td class="nump">400<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_GryphonMutualPropertyAmericaICGryphonMember', window );">Gryphon Mutual Property Americas IC | Affiliates of Manager</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentForManagementFee', window );">Management fees paid to manager</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86<span></span>
</td>
<td class="nump">30<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneInternalAuditServicesMember', window );">Blackstone internal audit services | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">71<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_LexingtonNationalLandServicesMember', window );">Lexington National Land Services | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">170<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="nump">216<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneSecuritiesPartnersL.PMember', window );">Blackstone Securities Partners L.P | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction', window );">Related party transaction</a></td>
<td class="nump">$ 30<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 109<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_CTInvestmentManagementCo.LLCCTIMCOMember', window );">CT Investment Management Co., LLC | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_CollateralizedLoanObligationsNumberOfAssets', window );">Number of assets in special servicing under CLOs | asset</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AmountContributedToCaptiveTowardsInsurancePremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount Contributed To Captive Towards Insurance Premium</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AmountContributedToCaptiveTowardsInsurancePremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_CollateralizedLoanObligationsNumberOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Collateralized Loan Obligations, Number Of Assets</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_CollateralizedLoanObligationsNumberOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ExtinguishmentOfDebtAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Gross amount of debt extinguished.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ExtinguishmentOfDebtAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentForManagementFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount paid to managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 230<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477867/946-230-45-1<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-17<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentForManagementFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAmountsOfTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of transactions with related party during the financial reporting period.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAmountsOfTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCUKAUSPtyLtdRevantageCorporateAndGlobalServicesEuropeS.aR.l.PerformPropertiesLLCLivCorLLCBREHotelsResortsLLCLendingOneLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BrioRealEstateServicesLLCBrioRealEstateUKLtdAndBrioRealEstateAUSPtyLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_RevantageCorporateServicesLLCAndRevantageGlobalServicesEuropeS.aR.l.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_PerformPropertiesLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_PerformPropertiesLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_LivCorLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_LivCorLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BREHotelsResortsLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BREHotelsResortsLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_LendingOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_LendingOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BTIGLLCGryphonMutualPropertyAmericasICInternalAuditServicesLexingtonNationalLandServicesBlackstoneSecuritiesPartnersL.PMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BTIGLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BTIGLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_GryphonMutualPropertyAmericaICGryphonMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_GryphonMutualPropertyAmericaICGryphonMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=srt_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BlackstoneInternalAuditServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BlackstoneInternalAuditServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_LexingtonNationalLandServicesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_LexingtonNationalLandServicesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BlackstoneSecuritiesPartnersL.PMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BlackstoneSecuritiesPartnersL.PMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_CTInvestmentManagementCo.LLCCTIMCOMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_CTInvestmentManagementCo.LLCCTIMCOMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>129
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions With Related Parties - Affiliate Transactions (Details)<br> $ in Thousands, &#8364; in Millions, &#163; in Millions</strong></div></th>
<th class="th" colspan="6">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Jun. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>GBP (&#163;)</div>
</th>
<th class="th">
<div>Dec. 31, 2021 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2019 </div>
<div>EUR (&#8364;)</div>
</th>
<th class="th">
<div>Dec. 31, 2018 </div>
<div>GBP (&#163;)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireEquityMethodInvestments', window );">Investment in unconsolidated entities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">178,664<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees', window );">Origination and other fees received on loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,882<span></span>
</td>
<td class="nump">26,140<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value</a></td>
<td class="nump">$ 182,598<span></span>
</td>
<td class="nump">$ 108,087<span></span>
</td>
<td class="nump">$ 4,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RepaymentsOfLoanParticipations', window );">Repayment of loan participations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 104,028<span></span>
</td>
<td class="nump">235,960<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember', window );">Bank Loan Portfolio Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership percentage</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value</a></td>
<td class="nump">$ 104,867<span></span>
</td>
<td class="nump">55,906<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 104,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture1Member', window );">Bank Loan Portfolio Joint Venture 1</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireEquityMethodInvestments', window );">Investment in unconsolidated entities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 57,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture2Member', window );">Bank Loan Portfolio Joint Venture 2</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireEquityMethodInvestments', window );">Investment in unconsolidated entities</a></td>
<td class="nump">$ 44,700<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership percentage</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember', window );">Net Lease Joint Venture</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentOwnershipPercentage', window );">Ownership percentage</a></td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">75.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Book Value</a></td>
<td class="nump">$ 77,731<span></span>
</td>
<td class="nump">$ 52,181<span></span>
</td>
<td class="nump">$ 4,452<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 77,731<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">1,808,127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,764,437<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,808,127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">785,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">785,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">785,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face Value</a></td>
<td class="nump">2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,936,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,552,403<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,098,228<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,936,967<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,479,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member', window );">B-6 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="nump">1,000,000<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">1,045,754<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,045,754<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member', window );">B-5 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">650,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">650,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_SeniorSecuredNotesDue2029Member', window );">December 2024 | Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face Value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">450,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">450,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">450,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">450,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember', window );">2025 FL5 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">898,950<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member', window );">B-7 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="nump">453,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">453,100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total face value</a></td>
<td class="nump">453,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">453,105<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember', window );">Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face amount of loans</a></td>
<td class="nump">$ 606,000<span></span>
</td>
<td class="nump">$ 1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 94,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">606,000<span></span>
</td>
<td class="nump">94,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 303.5<span></span>
</td>
<td class="nump">&#8364; 350.0<span></span>
</td>
<td class="nump">&#8364; 350.0<span></span>
</td>
<td class="nump">&#163; 148.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RelatedPartyTransactionInterestInLoanPercentage', window );">Related party transaction, interest in loan, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
<td class="nump">17.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold', window );">Selling loan amount | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 232.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage', window );">Remaining loan amount in new lenders | &#8364;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#8364; 347.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_RepaymentsOfLoanParticipations', window );">Repayment of loan participations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 46,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember', window );">Related Party | Senior Participations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsOfLoanParticipations', window );">Proceeds of loan participations | &#163;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">&#163; 100.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember', window );">Related Party | Senior Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages', window );">Face amount of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 560,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">560,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_AgencyMultifamilyLendingPartnershipMember', window );">Agency Multifamily Lending Partnership | Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoansReferred', window );">Number of loans referred | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees', window );">Origination and other fees received on loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfOtherAssets1', window );">Proceeds from sale of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">59,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Senior Loans, Blackstone-Advised Investment Vehicle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoansModified', window );">Number of loans modified | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Performing Loans, Blackstone-Advised Investment Vehicle</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLoanOriginations1', window );">Origination and other fees received on loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 554,400<span></span>
</td>
<td class="nump">$ 98,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_NumberOfLoansCount', window );">Number of loans count | loan</a></td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Performing Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_ProceedsFromLoanOriginations1', window );">Origination and other fees received on loans receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 148,800<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | Senior Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face Value</a></td>
<td class="nump">$ 666,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 666,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Count, financing provided | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | Mezzanine Loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face Value</a></td>
<td class="nump">123,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 123,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentNumberOfLoans', window );">Count, financing provided | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-6 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 83,900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-5 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">62,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | December 2024 | Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 80,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | 2025 FL5 Underlying Collateral Assets | Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 75,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember', window );">Blackstone-Advised Investment Vehicles, or the Funds | Related Party | B-7 Term Loan | Secured term loans, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentCollateralAmountFaceAmount', window );">Principal Balance, collateral assets</a></td>
<td class="nump">$ 33,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 33,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentCollateralAmountFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Collateral Amount, Face Amount</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentCollateralAmountFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Debt Instrument, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_NumberOfLoansCount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of loans count.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_NumberOfLoansCount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_NumberOfLoansModified">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Loans Modified</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_NumberOfLoansModified</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_NumberOfLoansReferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number Of Loans Referred</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_NumberOfLoansReferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds From Loan Origination And Other Loan Receivable Fees</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ProceedsFromLoanOriginationAndOtherLoanReceivableFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_ProceedsOfLoanParticipations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Proceeds Of Loan Participations</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_ProceedsOfLoanParticipations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RelatedPartyTransactionInterestInLoanPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Related Party Transaction, Interest In Loan, Percentage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RelatedPartyTransactionInterestInLoanPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_RepaymentsOfLoanParticipations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents repayments of loan participants.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_RepaymentsOfLoanParticipations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>SEC Schedule, 12-29, Real Estate Companies, Investment In Mortgage Loans On Real Estate, Remaining Amount Of Mortgage</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_SECSchedule1229RealEstateCompaniesInvestmentInMortgageLoansOnRealEstateRemainingAmountOfMortgage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_MortgageLoansOnRealEstateFaceAmountOfMortgages">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual principal due at origination of mortgage loan within investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Subsection 29<br> -Paragraph Column F<br> -Publisher SEC<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 948<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478322/948-310-S50-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 948<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column F))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479628/948-310-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MortgageLoansOnRealEstateFaceAmountOfMortgages</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>srt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482900/835-30-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentOwnershipPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentOwnershipPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481664/323-10-45-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of decrease in investment in mortgage loan on real estate by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate, from sale.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 948<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478322/948-310-S50-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 948<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.12-29(Column G)(Footnote 6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479628/948-310-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageLoansOnRealEstateCostOfMortgagesSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the purchase of or advances to an equity method investments, which are investments in joint ventures and entities in which the entity has an equity ownership interest normally of 20 to 50 percent and exercises significant influence.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLoanOriginations1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cash inflow associated with loan origination (the process when securing a mortgage for a piece of real property) or lease origination.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLoanOriginations1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfOtherAssets1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from the sale of other assets as part of operating activities.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-25<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfOtherAssets1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 850<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483326/850-10-50-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(k)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_BankLoanPortfolioJointVenture2Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=bxmt_NetLeaseJointVentureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B6TermLoanDue2030Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B5TermLoanDue2028Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_SeniorSecuredNotesDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_SeniorSecuredNotesDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_A2025FL5UnderlyingCollateralAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_B7TermLoanDue2029Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LoanParticipationsSoldAxis=bxmt_SeniorLoanParticipationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LoanParticipationsSoldAxis=bxmt_SeniorLoanParticipationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=us-gaap_SeniorLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=us-gaap_SeniorLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_AgencyMultifamilyLendingPartnershipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_CounterpartyNameAxis=bxmt_BlackstoneAdvisedInvestmentVehiclesOrTheFundsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=bxmt_SeniorLoansBlackstoneAdvisedInvestmentVehicleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_PerformingLoansBlackstoneAdvisedInvestmentVehicleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=bxmt_PerformingLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=bxmt_PerformingLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentTypeAxis=bxmt_MezzanineLoanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentTypeAxis=bxmt_MezzanineLoanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>130
<FILENAME>R115.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies - Additional Information (Detail)<br></strong></div></th>
<th class="th" colspan="5">9 Months Ended</th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2025 </div>
<div>USD ($) </div>
<div>director</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>loan</div>
</th>
<th class="th">
<div>Dec. 31, 2024 </div>
<div>USD ($) </div>
<div>security_loan</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Current expected credit loss reserves for unfunded loan commitments</a></td>
<td class="nump">$ 13,741,000<span></span>
</td>
<td class="nump">$ 13,741,000<span></span>
</td>
<td class="nump">$ 13,741,000<span></span>
</td>
<td class="nump">$ 13,741,000<span></span>
</td>
<td class="nump">$ 13,741,000<span></span>
</td>
<td class="nump">$ 10,412,000<span></span>
</td>
<td class="nump">$ 10,412,000<span></span>
</td>
<td class="nump">$ 8,300,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="nump">130<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation', window );">Number of non-employee directors eligible for annual compensation | director</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation', window );">Number of directors not eligible for compensation | director</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_BoardOfDirectorsMember', window );">Board of Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">210,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationCash', window );">Annual cash compensation paid in cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">95,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationStock', window );">Annual cash compensation paid in the form of deferred stock units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">115,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMember', window );">Audit Committee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_CompensationCommitteeMember', window );">Compensation Committee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_CorporateGovernanceCommitteeMember', window );">Corporate Governance Committee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMembersMember', window );">Audit Committee Members</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_srt_TitleOfIndividualAxis=bxmt_InvestmentRiskManagementCommitteeMember', window );">Investment risk management committee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_AnnualDirectorCompensationAdditionalCompensation', window );">Annual cash compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember', window );">Unfunded Loan Commitment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems', window );"><strong>Financing Receivable, Allowance for Credit Loss [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_OffBalanceSheetCreditLossLiability', window );">Current expected credit loss reserves for unfunded loan commitments</a></td>
<td class="nump">1,532,429,000<span></span>
</td>
<td class="nump">$ 1,532,429,000<span></span>
</td>
<td class="nump">$ 1,532,429,000<span></span>
</td>
<td class="nump">1,532,429,000<span></span>
</td>
<td class="nump">$ 1,532,429,000<span></span>
</td>
<td class="nump">$ 1,263,068,000<span></span>
</td>
<td class="nump">$ 1,263,068,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_FinancingReceivableNumberOfLoans', window );">Number of loans | loan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings', window );">Aggregate unfunded loan commitments</a></td>
<td class="nump">800,100,000<span></span>
</td>
<td class="nump">$ 800,100,000<span></span>
</td>
<td class="nump">800,100,000<span></span>
</td>
<td class="nump">800,100,000<span></span>
</td>
<td class="nump">800,100,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OffBalanceSheetCreditLossLiabilityNet', window );">Net unfunded commitments</a></td>
<td class="nump">$ 732,300,000<span></span>
</td>
<td class="nump">$ 732,300,000<span></span>
</td>
<td class="nump">$ 732,300,000<span></span>
</td>
<td class="nump">$ 732,300,000<span></span>
</td>
<td class="nump">$ 732,300,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_OffBalanceSheetCreditLossLiabilityTerm', window );">Weighted-average future funding period (in years)</a></td>
<td class="text">2 years 1 month 6 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AnnualDirectorCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Director Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AnnualDirectorCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AnnualDirectorCompensationAdditionalCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Director Compensation, Additional Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AnnualDirectorCompensationAdditionalCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AnnualDirectorCompensationCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Director Compensation, Cash</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AnnualDirectorCompensationCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_AnnualDirectorCompensationStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Annual Director Compensation, Stock</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_AnnualDirectorCompensationStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Board Of Directors, Number Of Directors Eligible For Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_BoardOfDirectorsNumberOfDirectorsEligibleForCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Board Of Directors, Number Of Members Not Eligible For Annual Compensation</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_BoardOfDirectorsNumberOfMembersNotEligibleForAnnualCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_FinancingReceivableNumberOfLoans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Financing Receivable, Number Of Loans</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_FinancingReceivableNumberOfLoans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Off-Balance-Sheet, Credit Loss, Liability, Committed Financings</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OffBalanceSheetCreditLossLiabilityCommittedFinancings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OffBalanceSheetCreditLossLiabilityNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Off-Balance-Sheet, Credit Loss, Liability, Net</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OffBalanceSheetCreditLossLiabilityNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_OffBalanceSheetCreditLossLiabilityTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Off-Balance-Sheet, Credit Loss, Liability, Term</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_OffBalanceSheetCreditLossLiabilityTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Regulation S-K (SK)<br> -Number 229<br> -Section 1405<br> -Paragraph c<br> -Publisher SEC<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableAllowanceForCreditLossesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OffBalanceSheetCreditLossLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of expected credit loss for credit exposure on off-balance-sheet commitment, including but not limited to, loan commitment, standby letter of credit, financial guarantee not accounted for as insurance. Excludes off-balance sheet credit exposure accounted for as insurance and instrument accounted for under derivatives and hedging.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482454/460-10-45-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OffBalanceSheetCreditLossLiability</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_BoardOfDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_BoardOfDirectorsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_CompensationCommitteeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_CompensationCommitteeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_CorporateGovernanceCommitteeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_CorporateGovernanceCommitteeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMembersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_AuditCommitteeMembersMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_TitleOfIndividualAxis=bxmt_InvestmentRiskManagementCommitteeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_TitleOfIndividualAxis=bxmt_InvestmentRiskManagementCommitteeMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis=us-gaap_UnfundedLoanCommitmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies - Schedule of Principal Debt Repayments (Detail) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Sep. 30, 2025</div></th>
<th class="th"><div>Dec. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">$ 203,096<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">2,637,665<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">3,514,056<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">1,335,212<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">2,452,026<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">2,895,767<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">13,037,822<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember', window );">Secured debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">199,342<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">2,313,383<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">2,821,019<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">1,320,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">1,162,807<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">1,731,584<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">9,548,332<span></span>
</td>
<td class="nump">$ 9,705,529<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">9,540,224<span></span>
</td>
<td class="nump">9,696,334<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_AssetSpecificDebtMember', window );">Asset-specific debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">76,549<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">390,357<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">162,984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">629,890<span></span>
</td>
<td class="nump">1,228,110<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">627,916<span></span>
</td>
<td class="nump">1,224,841<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_TermLoanMember', window );">Term Loans</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">3,754<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">324,282<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">15,015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">15,015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">448,862<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">1,001,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">$ 1,808,127<span></span>
</td>
<td class="nump">1,764,437<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_DebtInstrumentAmortizationPercentage', window );">Amortization percentage</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">$ 1,774,913<span></span>
</td>
<td class="nump">1,732,073<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember', window );">Senior secured notes, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">335,316<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">450,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">785,316<span></span>
</td>
<td class="nump">785,316<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">785,215<span></span>
</td>
<td class="nump">771,035<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember', window );">Convertible Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear', window );">2025 (remaining)</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths', window );">2026</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo', window );">2027</a></td>
<td class="nump">266,157<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree', window );">2028</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour', window );">2029</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_bxmt_LongTermDebtMaturityAfterYearFour', window );">Thereafter</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">266,157<span></span>
</td>
<td class="nump">266,157<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">264,463<span></span>
</td>
<td class="nump">263,616<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=bxmt_SecuritizedDebtObligationMember', window );">Securitized debt obligations, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Debt Instrument [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Total obligation</a></td>
<td class="nump">2,479,417<span></span>
</td>
<td class="nump">1,936,967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Long-term debt</a></td>
<td class="nump">$ 2,470,067<span></span>
</td>
<td class="nump">$ 1,936,956<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_DebtInstrumentAmortizationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Represents debt instrument amortization percentage.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_DebtInstrumentAmortizationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_bxmt_LongTermDebtMaturityAfterYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Long-Term Debt, Maturity, After Year Four</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">bxmt_LongTermDebtMaturityAfterYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>bxmt_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 815<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting 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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(22))<br> -SubTopic 10<br> -Topic 210<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 835<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482949/835-30-55-8<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(16))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 69C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69C<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1D<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1D<br><br>Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(16)(a)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1E<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 470<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1E<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 470<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1E<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 470<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1<br></p></div>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1E<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 470<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481544/470-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirement, and other securities issued that are redeemable by holder at fixed or determinable price and date, maturing in remainder of current fiscal year.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-4<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=bxmt_SeniorSecuredNotesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_ConvertibleDebtMember</td>
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<td></td>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td></td>
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<td>na</td>
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<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Segment Reporting (Details)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Sep. 30, 2025 </div>
<div>segment</div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_SegmentReportingAbstract', window );"><strong>Segment Reporting [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_us-gaap_NumberOfReportableSegments', window );">Number of reporting segments</a></td>
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<td class="nump">1<span></span>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 47<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 54<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-18<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfReportableSegments</td>
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<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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